<SEC-DOCUMENT>0001062993-18-001493.txt : 20180404
<SEC-HEADER>0001062993-18-001493.hdr.sgml : 20180404
<ACCEPTANCE-DATETIME>20180403194248
ACCESSION NUMBER:		0001062993-18-001493
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		121
CONFORMED PERIOD OF REPORT:	20171231
FILED AS OF DATE:		20180404
DATE AS OF CHANGE:		20180403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EMX Royalty Corp
		CENTRAL INDEX KEY:			0001285786
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35404
		FILM NUMBER:		18735469

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 501-543 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1X8
		BUSINESS PHONE:		604-688-6390

	MAIL ADDRESS:	
		STREET 1:		SUITE 501-543 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1X8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMX ROYALTY Corp
		DATE OF NAME CHANGE:	20170719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EURASIAN MINERALS INC
		DATE OF NAME CHANGE:	20040401
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>form20f.htm
<DESCRIPTION>FORM 20-F
<TEXT>
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<P align=center><B><FONT size=5>UNITED STATES </FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR>Washington, D.C. 20549
</P>
<P align=center><B><FONT size=5>FORM 20-F </FONT></B></P>
<P align=center>[&nbsp;&nbsp; ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b)
OR&nbsp; (g) OF THE SECURITIES EXCHANGE ACT OF 1934 </P>
<P align=center>OR </P>
<P align=center>[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 </P>
<P align=center>For the fiscal year ended <B><U>December 31, 2017 </U></B></P>
<P align=center>OR </P>
<P align=center>[&nbsp; &nbsp;] TRANSITION REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </P>
<P align=center>For the transition period from ____________ to ____________</P>
<P align=center>OR </P>
<P align=center>[&nbsp;&nbsp; ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </P>
<P align=center>Date of event requiring this shell company report </P>
<P align=center>Commission File Number: <B><U>001-35404 </U></B></P>
<P align=center><B><U><FONT size=5>EMX ROYALTY
CORPORATION</FONT></U></B><BR>(Formerly Eurasian Minerals Inc.)<B>
</B><BR>(Exact name of Registrant as specified in its charter) </P>
<P align=center><B><U>British Columbia, Canada<BR></U></B>(Jurisdiction of
incorporation or organization) </P>
<P align=center><B><U>Suite 501, 543 Granville Street, Vancouver, British
Columbia, Canada V6C 1X8</U> </B><BR>(Address of principal executive
offices) <BR></P>
<P align=center><B>Christina Cepeliauskas, Chief Financial Officer
</B><BR><B>Telephone No.: 604-688-6390 </B><BR><B>Facsimile No.: 604-688-1157
</B><BR><B><U>Suite 501, 543 Granville Street, Vancouver, British Columbia,
Canada V6C 1X8</U> </B><BR>(Name, Telephone, Email and/or Facsimile
number and Address of Company Contact Person) <BR></P>
<P align=center><U>Securities to be registered pursuant to Section 12(b) of the
Act: </U></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>
    <p align="center">Title of each class </TD>
    <TD align=left width="50%">
    <p align="center">Name on each exchange on which registered
</TD></TR>
  <TR vAlign=top>
    <TD align=left>
    <p align="center"><B><U>Common Shares, without par value </U></B></TD>
    <TD align=left width="50%">
    <p align="center"><B><U>NYSE American LLC
</U></B></TD></TR></TABLE>
<P align=center>Securities to be registered pursuant to Section 12(g) of the
Act: <BR><B><U>None</U> </B><BR></P>
<P align=justify>Securities for which there is a reporting obligation pursuant
to Section 15(d) of the Act: <B><U>None </U></B></P>
<P align=justify>Indicate the number of outstanding shares of each of the
Company&#146;s classes of capital or common stock as of the close of the period
covered by the annual report: <B><U>79,746,271 </U></B></P>
<P align=justify>Indicate by check mark if the registrant is a well-known
seasoned Company, as defined in Rule 405 of the Securities Act.<BR>Yes [&nbsp;
&nbsp;]&nbsp;&nbsp; No [X] </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_2></A>
<P align=justify>If this report is an annual or transition report, indicate by
check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934. <BR>Yes [&nbsp;&nbsp;
]&nbsp;&nbsp; No [X]<B> </B></P>
<P align=justify>Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past ninety days. <BR>Yes [X]&nbsp;&nbsp; No
[&nbsp;&nbsp; ] </P>
<P align=justify>Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such
files).<BR>Yes [X]&nbsp; &nbsp;No [&nbsp;&nbsp; ] </P>
<P align=justify>Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging
growth company. See definition of &#147;large accelerated filer,"accelerated filer,&#148;
and "emerging growth company" in Rule 12b-2 of the Exchange Act. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Large accelerated filer [&nbsp;&nbsp; ]</TD>
    <TD align=left width="33%">Accelerated filer [&nbsp;&nbsp; ]</TD>
    <TD align=left width="33%">Non-accelerated
      filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      [X] </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">Emerging growth company [&nbsp;&nbsp;
  ]</TD></TR></TABLE>
<P align=justify style="margin-left: 5%">If an emerging growth company that prepares its financial
statements in accordance with U.S. GAAP, indicate by check mark if the
registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards&#134; provided pursuant to
Section 13(a) of the Exchange Act. [&nbsp;&nbsp; ]</P>
<P align=justify style="margin-left: 5%">The term &#147;new or revised
financial accounting standard&#148; refers to any update issued by the Financial
Accounting Standards Board to its Accounting Standards Codification after April
5, 2012. </P>
<P align=justify style="margin-left: 5%">Indicate by check mark which basis of accounting the registrant
has used to prepare the financial statements included in this filing: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>U.S. GAA P [&nbsp;&nbsp; ] </TD>
    <TD align=left width="50%" >International Financial Reporting
      Standards as issued </TD>
    <TD align=left width="25%">Other [&nbsp; &nbsp;] </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%" >by the International Accounting
      Standards Board [X]&nbsp; </TD>
    <TD align=left width="25%"></TD></TR></TABLE>
<P align=justify>If &#147;Other&#148; has been checked in response to the previous
question, indicate by check mark which financial statement item the registrant
has elected to follow: <BR>Item 17 [&nbsp;&nbsp; ]&nbsp;&nbsp; Item 18 [&nbsp;
&nbsp;] </P>
<P align=justify>If this is an annual report, indicate by check mark whether the
registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
<BR>Yes [&nbsp;&nbsp; ]&nbsp;&nbsp; No [X]</P>
<P align=justify>Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Sections 12, 13 or 15(d) of the
Securities Exchange Act of 1934 subsequent to the distribution of securities
under a plan confirmed by a court. <BR>Yes [&nbsp; &nbsp;]&nbsp; &nbsp;No [X]<B>
</B></P>
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<P align=center><B>EMX ROYALTY CORPORATION </B></P>
<P align=center><B>TABLE OF CONTENTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=left>&nbsp; <A href="#page_Page"></A></TD>
    <TD align=left width="80%">&nbsp; <A href="#page_Page"></A></TD>
    <TD align=center width="5%">Page </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A href="#page_4">Glossary of
      Geological and Mining Terms </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_4">2 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_11">Itroduction </A></TD>
    <TD align=left width="80%">&nbsp; <A href="#page_11"></A></TD>
    <TD align=center width="5%"><A href="#page_11">9 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A href="#page_12">Cautionary
      Statement Regarding Forward-Looking Statements </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee>&nbsp;<A href="#page_12">10 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left colSpan=2><A href="#page_14">Cautionary Note to United
      States Investors Regarding Reserve and Resource Information </A></TD>
    <TD align=center width="5%">&nbsp;<A href="#page_14">12 </A></TD>
  </TR>
  <TR>
    <TD bgColor=#eeeeee>&nbsp;</TD>
    <TD width="80%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=center width="5%" bgColor=#eeeeee>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=3><a href="#page_15">&nbsp;<B>PART I</B>&nbsp; </a></TD>
  </TR>
  <TR>
    <TD bgColor=#eeeeee>&nbsp;</TD>
    <TD width="80%" bgColor=#eeeeee>&nbsp;</TD>
    <TD width="5%" bgColor=#eeeeee>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_15">Item 1. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_15">Identity of
      Directors, Senior Management and Advisors </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_15">13 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_15">Item 2. </A></TD>
    <TD align=left width="80%"><A href="#page_15">Offer Statistics and
      Expected Timetable </A></TD>
    <TD align=center width="5%"><A href="#page_15">13 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_15">Item 3. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_15">Key
      Information </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_15">13 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_22">Item 4. </A></TD>
    <TD align=left width="80%"><A href="#page_22">Information on the Company </A></TD>
    <TD align=center width="5%"><A href="#page_22">20 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_57">Item 5. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_57">Operating,
      Financial Review and Prospects </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_57">55 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_70">Item 6. </A></TD>
    <TD align=left width="80%"><A href="#page_70">Directors, Senior Management
      and Employees </A></TD>
    <TD align=center width="5%"><A href="#page_70">68 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_85">Item 7. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_85">Major
      Shareholders and Related Party Transactions </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_85">82 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_87">Item 8. </A></TD>
    <TD align=left width="80%"><A href="#page_87">Financial Information </A></TD>
    <TD align=center width="5%"><A href="#page_87">84 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_87">Item 9. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_87">The Offer
      and Listing </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_87">85 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_88">Item 10. </A></TD>
    <TD align=left width="80%"><A href="#page_88">Additional Information </A></TD>
    <TD align=center width="5%"><A href="#page_88">85 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_102">Item 11. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A
      href="#page_102">Quantitative and Qualitative Disclosures about Market
      Risk </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_102">100 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_103">Item 12. </A></TD>
    <TD align=left width="80%"><A href="#page_103">Description of Securities
      Other Than Equity Securities </A></TD>
    <TD align=center width="5%"><A href="#page_103">100 </A></TD>
  </TR>
  <TR>
    <TD bgColor=#eeeeee>&nbsp;</TD>
    <TD width="80%" bgColor=#eeeeee>&nbsp;</TD>
    <TD width="5%" bgColor=#eeeeee>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center bgColor=#eeeeee colSpan=3><a href="#page_103">&nbsp;<B>PART II</B>&nbsp; </a></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_103">Item 13. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_103">Defaults,
      Dividend Arrearages and Delinquencies </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_103">100 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_103">Item 14. </A></TD>
    <TD align=left width="80%"><A href="#page_103">Material Modifications to
      the Rights of Security Holders and Use of Proceeds </A></TD>
    <TD align=center width="5%"><A href="#page_103">100 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_104">Item 15. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_104">Controls
      and Procedures </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_104">101 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_105">Item 16A. </A></TD>
    <TD align=left width="80%"><A href="#page_105">Audit Committee Financial
      Expert </A></TD>
    <TD align=center width="5%"><A href="#page_105">102 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_105">Item 16B. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_105">Code of
      Ethics </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_105">102 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_105">Item 16C. </A></TD>
    <TD align=left width="80%"><A href="#page_105">Principal Accountant Fees
      and Services </A></TD>
    <TD align=center width="5%"><A href="#page_105">102 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_105">Item 16D. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_105">Exemptions
      from the Listing Standards for Audit Committees </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_105">103 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_106">Item 16E. </A></TD>
    <TD align=left width="80%"><A href="#page_106">Purchases of Equity
      Securities by the Issuer and Affiliated Purchasers </A></TD>
    <TD align=center width="5%"><A href="#page_106">103 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_106">Item 16F. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_106">Change in
      Registrant&#146;s Certifying Accountant </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_106">103 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_106">Item 16G. </A></TD>
    <TD align=left width="80%"><A href="#page_106">Corporate Governance </A></TD>
    <TD align=center width="5%"><A href="#page_106">103 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_106">Item 16H. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_106">Mine Safety
      Disclosure </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_106">103 </A></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgColor=#eeeeee>&nbsp;</TD>
    <TD width="80%" bgColor=#eeeeee>&nbsp;</TD>
    <TD width="5%" bgColor=#eeeeee>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=3><a href="#page_106">&nbsp;<B>PART III</B>&nbsp; </a></TD>
  </TR>
  <TR>
    <TD bgColor=#eeeeee>&nbsp;</TD>
    <TD width="80%" bgColor=#eeeeee>&nbsp;</TD>
    <TD width="5%" bgColor=#eeeeee>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_106">Item 17. </A></TD>
    <TD align=left width="80%"><A href="#page_106">Financial Statements </A></TD>
    <TD align=center width="5%"><A href="#page_106">103 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_106">Item 18. </A></TD>
    <TD align=left width="80%" bgColor=#eeeeee><A href="#page_106">Financial
      Statements </A></TD>
    <TD align=center width="5%" bgColor=#eeeeee><A href="#page_106">103 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_107">Item 19. </A></TD>
    <TD align=left width="80%"><A href="#page_107">Exhibits </A></TD>
    <TD align=center width="5%"><A href="#page_107">104 </A></TD>
  </TR>
</TABLE>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_4></A>
<P align=justify><B><I>Glossary of Geological and Mining Terms</I></B></P>
<P align=justify>Certain terms used in this Form 20-F are defined as follows:<I>
</I></P>
<P align=justify><B>Alunite: </B><SUP>a hydrated aluminium potassium, sulfate
mineral [(KAl</SUP>3<SUP>(SO</SUP>4<SUP>)</SUP>2<SUP>(OH)</SUP>6<SUP>].
</SUP></P>
<P align=justify><B>Andesite: </B>an extrusive igneous rock of intermediate
composition with a fine grained to porphyritic texture. </P>
<P align=justify><B>Argillic Alteration: </B>hydrothermal alteration of rock
which introduces clay minerals including kaolinite, smectite and illite. </P>
<P align=justify><B>Assay:</B> a quantitative chemical analysis of an ore,
mineral or concentrate to determine the amount of specific elements. </P>
<P align=justify><B>Breccia:</B> a coarse-grained clastic rock composed of
broken rock fragments held together by a mineral cement or in a fine-grained
matrix. </P>
<P align=justify><B>Carbonate: </B><SUP>a sedimentary rock made mainly of
calcium carbonate (CaCO</SUP>3<SUP>). </SUP></P>
<P align=justify><B>Dacite: </B>an extrusive igneous rock with a fine grained to
porphyritic texture and intermediate in composition between andesite and
rhyolite. </P>
<P align=justify><B>Diorite:</B> a grey to dark-grey intermediate intrusive
igneous rock composed principally of plagioclase feldspar, biotite, hornblende,
and/or pyroxene. </P>
<P align=justify><B>Dike: </B>a tabular igneous intrusion that cuts across the
country rock, generally vertical in nature. </P>
<P align=justify><B>Dor&#233;: </B>a mixture of predominantly gold and silver
produced by a mine, usually in a bar form, before separation and refining into
gold and silver by a refinery.</P>
<P align=justify><B>Epithermal: </B>said of<B> </B>a hydrothermal mineral
deposit formed within about 1 kilometer of the Earth&#146;s surface and in the
temperature range of 50<SUP>o</SUP>C to 200<SUP>o</SUP>C. </P>
<P align=justify><B>Feasibility Study: </B>is defined in the CIM Definition
Standards (2014) as referenced by NI 43-101 as a comprehensive technical and
economic study of the selected development option for a mineral project that
includes appropriately detailed assessments of applicable Modifying Factors
together with any other relevant operational factors and detailed financial
analysis that are necessary to demonstrate, at the time of reporting, that
extraction is reasonably justified (economically mineable). The results of the
study may reasonably serve as the basis for a final decision by a proponent or
financial institution to proceed with, or finance, the development of the
project. The confidence level of the study will be higher than that of a
Pre-Feasibility Study. </P>
<P align=justify><B>Foliation: </B>repetitive layering in metamorphic rocks.</P>
<P align=justify><B>Footwall:</B> the underlying side of a fault, ore body, or
mine working; particularly the wall rock beneath an inclined vein or fault.<B>
</B></P>
<P align=justify><B>Formation: </B>a persistent body of igneous, sedimentary, or
metamorphic rock, having easily recognizable boundaries that can be traced in
the field without recourse to detailed paleontologic or petrologic analysis, and
large enough to be represented on a geologic map as a practical or convenient
unit for mapping and description. </P>
<P align=justify><B>Gneiss: </B>a type of rock formed by high-grade regional
metamorphic processes from pre-existing formations of igneous or sedimentary
rocks.</P>
<P align=justify><B>Granodiorite: </B>a group of plutonic rocks intermediate in
composition between quartz diorite and quartz monzonite. </P>
<P align=justify><B>Greenfields: </B>conceptual exploration; relying on the
predictive power of ore genesis models to search for mineralization in
relatively unexplored ground. </P>
<P align=right>2 </P>
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<P align=justify><B>Hanging wall:</B> the overlying side of an ore body, fault,
or mine working, especially the wall rock above an inclined vein or fault. </P>
<P align=justify><B>Hornfels: </B>a fine-grained rock composed of a mosaic of
equidimensional grains without preferred orientation and typically formed by
contact metamorphism. </P>
<P align=justify><B>Hydrothermal: </B>of or pertaining to hot water, to the
action of hot water, or to the products of this action, such as a mineral
deposit precipitated from a hot aqueous solution, with or without demonstrable
association with igneous processes. </P>
<P align=justify><B>Igneous rock:</B> rock that is magmatic in origin. </P>
<P align=justify><B>Indicated mineral resource:</B> is defined in the CIM
Definition Standards (2014) as referenced by NI 43-101 as that part of a Mineral
Resource for which quantity, grade or quality, densities, shape and physical
characteristics are estimated with sufficient confidence to allow the
application of Modifying Factors in sufficient detail to support mine planning
and evaluation of the economic viability of the deposit. Geological evidence is
derived from adequately detailed and reliable exploration, sampling and testing
and is sufficient to assume geological and grade or quality continuity between
points of observation. An Indicated Mineral Resource has a lower level of
confidence than that applying to a Measured Mineral Resource and may only be
converted to a Probable Mineral Reserve.</P>
<P align=justify><B>Inferred mineral resource: </B>is defined in the CIM
Definition Standards (2014) as referenced by NI 43-101 as that part of a Mineral
Resource for which quantity and grade or quality are estimated on the basis of
limited geological evidence and sampling. Geological evidence is sufficient to
imply but not verify geological and grade or quality continuity. An Inferred
Mineral Resource has a lower level of confidence than that applying to an
Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is
reasonably expected that the majority of Inferred Mineral Resources could be
upgraded to Indicated Mineral Resources with continued exploration.</P>
<P align=justify><B>Intercalated:</B> said of layered material that exists or is
introduced between layers of a different character; especially said of
relatively thin strata of one kind of material that alternates with thicker
strata of some other kind, such as beds of shale intercalated in a body of
sandstone. </P>
<P align=justify><B>Jasperoid: </B>a dense chert-like siliceous rock, in which
chalcedony or cryptocrystalline quartz has replaced the carbonate materials of
limestone or dolomite.</P>
<P align=justify><B>Kriging:</B> a weighted, moving-average interpolation method
in which the set of weights assigned to samples minimizes the estimation
variance, which is computed as a function of the variogram model and locations
of the samples relative to each other, and to the point or block being
estimated. </P>
<P align=justify><B>Leach:</B> to dissolve minerals or metals out of ore with
chemicals.</P>
<P align=justify><B>Limestone</B>: a sedimentary rock consisting predominantly
of calcium carbonate. </P>
<P align=justify><B>Lithocap: </B>the shallow part of porphyry copper systems
typically above the main Cu-Au/-Mo zone; upper alteration zone. </P>
<P align=justify><B>Measured mineral resource:</B> is defined in the CIM
Definition Standards (2014) as referenced by NI 43-101 as that part of a Mineral
Resource for which quantity, grade or quality, densities, shape, and physical
characteristics are estimated with confidence sufficient to allow the
application of Modifying Factors to support detailed mine planning and final
evaluation of the economic viability of the deposit. Geological evidence is
derived from detailed and reliable exploration, sampling and testing and is
sufficient to confirm geological and grade or quality continuity between points
of observation. A Measured Mineral Resource has a higher level of confidence
than that applying to either an Indicated Mineral Resource or an Inferred
Mineral Resource. It may be converted to a Proven Mineral Reserve or to a
Probable Mineral Reserve.</P>
<P align=justify><B>Meta:</B> a prefix that, when used with the name of a
sedimentary or igneous rock, indicates that the rock has been metamorphosed.
</P>
<P align=justify><B>Metamorphic rock:</B> rock which has been changed from
igneous or sedimentary rock through heat and pressure into a new form of
rock.</P>
<P align=justify><B>Mineral Reserve:</B> is defined in the CIM Definition
Standards (2014) as referenced by NI 43-101 as the economically mineable part of
a Measured and/or Indicated Mineral Resource. It includes diluting materials and
allowances for losses, which may occur when the material is mined or extracted
and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors. Such
studies demonstrate that, at the time of reporting, extraction could reasonably
be justified. The reference point at which Mineral Reserves are defined, usually
the point where the ore is delivered to the processing plant, must be stated. It
is important that, in all situations where the reference point is different,
such as for a saleable product, a clarifying statement is included to ensure
that the reader is fully informed as to what is being reported. The public
disclosure of a Mineral Reserve must be demonstrated by a Pre-Feasibility Study
or Feasibility Study.</P>
<P align=right>3 </P>
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<P align=justify><B>Mineral Resource:</B> is defined in the CIM Definition
Standards (2014) as referenced by NI 43-101 as a concentration or occurrence of
solid material of economic interest in or on the Earth&#146;s crust in such form,
grade or quality and quantity that there are reasonable prospects for eventual
economic extraction. The location, quantity, grade or quality, continuity and
other geological characteristics of a Mineral Resource are known, estimated or
interpreted from specific geological evidence and knowledge, including sampling.
</P>
<P align=justify><B>Modifying factors:</B> is defined in the CIM Definition
Standards (2014) as the considerations used to convert Mineral Resources to
Mineral Reserves. These include, but are not restricted to, mining, processing,
metallurgical, infrastructure, economic, marketing, legal, environmental, social
and governmental factors. </P>
<P align=justify><B>Net smelter return royalty or NSR royalty:</B> a type of
royalty based on a percentage of the proceeds, net of smelting, refining and
transportation costs and penalties, from the sale of metals extracted from
concentrate and dor&#233; by the smelter or refinery. </P>
<P align=justify><B>NI 43-101: </B>National Instrument 43-101 <I>Standards of
Disclosure for Mineral Projects </I>of the Canadian Securities Administrators.
</P>
<P align=justify><B>Oxide:</B> a compound of ore that has been subjected to
weathering and alteration as a result of exposure to oxygen for a long period of
time. </P>
<P align=justify><B>Pegmatite: </B>a very coarse-grained igneous rock that has a
grain size of 20 millimetres or more.</P>
<P align=justify><B>Phyllite: </B>a regional metamorphic rock, intermediate in
grade between slate and schist. Minute crystals of sericite and chlorite impart
a silky sheen to the surfaces exposed by cleavage.<B> </B></P>
<P align=justify><B>Plagioclase: </B>a series of tectosilicate minerals within
the feldspar family.</P>
<P align=justify><B>Plutonic: </B>intrusive igneous rock that is crystallized
from magma slowly cooling below the surface of the Earth.<B> </B></P>
<P align=justify><B>Porphyry: </B>igneous rock consisting of large-grained
crystals dispersed in a fine-grained matrix or groundmass. </P>
<P align=justify><B>Pre-Feasibility Study:</B> is defined in the CIM Definition
Standards (2014) as referenced by NI 43-101 as a comprehensive study of a range
of options for the technical and economic viability of a mineral project that
has advanced to a stage where a preferred mining method, in the case of
underground mining, or the pit configuration, in the case of an open pit, is
established and an effective method of mineral processing is determined. It
includes a financial analysis based on reasonable assumptions on the Modifying
Factors and the evaluation of any other relevant factors which are sufficient
for a Qualified Person, acting reasonably, to determine if all or part of the
Mineral Resource may be converted to a Mineral Reserve at the time of reporting.
A Pre-Feasibility Study is at a lower confidence level than a Feasibility Study.
</P>
<P align=justify><B>Preliminary Economic Assessment:</B> is defined in NI 43-101
and NI 43-101CP as a study, other than a pre-feasibility or feasibility study
that includes an economic analysis of the potential viability of mineral
resources. The term preliminary economic assessment can include a study commonly
referred to as a scoping study. A preliminary economic assessment might be based
on measured, indicated, or inferred mineral resources, or a combination of any
of these. These types of economic analyses include disclosure of forecast mine
production rates that might contain capital costs to develop and sustain the
mining operation, operating costs, and projected cash flows.</P>
<P align=justify><B>Probable mineral reserve:</B> is defined in the CIM
Definition Standards (2014) as referenced by NI 43-101 as the economically
mineable part of an Indicated, and in some circumstances, a Measured Mineral
Resource. The confidence in the Modifying Factors applying to a Probable Mineral
Reserve is lower than that applying to a Proven Mineral Reserve. The Qualified
Person(s) may elect to convert Measured Mineral Resources to Probable Mineral
Reserves if the confidence in the Modifying Factors is lower than that applied
to a Proven Mineral Reserve.</P>
<P align=justify><B>Proven mineral reserve</B>: is defined in the CIM Definition
Standards (2014) as referenced by NI 43-101 as the economically mineable part of
a Measured Mineral Resource. A Proven Mineral Reserve implies a high degree of
confidence in the Modifying Factors. Application of the Proven Mineral Reserve
category implies that the Qualified Person has the highest degree of confidence in the estimate with the consequent
expectation in the minds of the readers of the report. The term should be
restricted to that part of the deposit where production planning is taking place
and for which any variation in the estimate would not significantly affect the
potential economic viability of the deposit. Proven Mineral Reserve estimates
must be demonstrated to be economic, at the time of reporting, by at least a
Pre-Feasibility Study. </P>
<P align=right>4 </P>
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<A name=page_7></A>
<P align=justify><B>Pyroclastic: </B>pertaining to clastic rock material formed
by volcanic explosion or aerial expulsion from a volcanic vent; also, pertaining
to rock texture of explosive origin. </P>
<P align=justify><B>Qualified Person: </B>is defined in NI 43-101 as an
individual who (a) is an engineer or geoscientist with a university degree, or
equivalent accreditation, in an area of geoscience, or engineering, relating to
mineral exploration or mining; (b) has at least five years of experience in
mineral exploration, mine development or operation or mineral project
assessment, or any combination of these, that is relevant to his or her
professional degree or area of practice; (c) has experience relevant to the
subject matter of the mineral project and the technical report; (d) is in good
standing with a professional association; and (e) in the case of a professional
association in a foreign jurisdiction, has a membership designation that (i)
requires attainment of a position of responsibility in their profession that
requires the exercise of independent judgment; and (ii) requires A. a favourable
confidential peer evaluation of the individual&#146;s character, professional
judgement, experience, and ethical fitness; or B. a recommendation for
membership by at least two peers, and demonstrated prominence or expertise in
the field of mineral exploration or mining; </P>
<P align=justify><B>Run-of-mine:</B> ore in its natural state as it is removed
from the mine that has not been subjected to additional size reduction. </P>
<P align=justify><B>Schist:</B> a strongly foliated crystalline rock, which
readily splits into sheets or slabs as a result of the planar alignment of the
constituent crystals. The constituent minerals are commonly specified (e.g.
&#147;quartz-muscovite-chlorite schist&#148;). </P>
<P align=justify><B>Shear zone:</B> a tabular zone of rock that has been crushed
and brecciated by parallel fractures due to &#147;shearing&#148; along a fault or zone of
weakness. These can be mineralized with ore-forming solutions. </P>
<P align=justify><B>Silicification: </B>the introduction of, or replacement by,
silica, generally resulting in the formation of fine-grained quartz, chalcedony,
or opal, which may fill pores and replace existing minerals. </P>
<P align=justify><B>Skarn: </B>metamorphic zone developed in the contact area
around igneous rock intrusions when carbonate sedimentary rocks are invaded by
large amounts of silicon, aluminum, iron, and magnesium. </P>
<P align=justify><B>Spectrography:</B> the process of using a spectrograph to
map or photograph a spectrum. </P>
<P align=justify><B>Stockwork: </B>a complex system of structurally controlled
or randomly oriented veins. </P>
<P align=justify><B>Strata:</B> layers of sedimentary rock with internally
consistent characteristics that distinguish them from other layers.</P>
<P align=justify><B>Strike:</B> the direction, or course or bearing of a vein or
rock formation measured on a level surface. </P>
<P align=justify><B>Stratibound: </B>confined to a particular stratigraphic
layer or unit. </P>
<P align=justify><B>Stratiform: </B>occurring as or arranged in strata. </P>
<P align=justify><B>Strip (or stripping) ratio:</B> the tonnage or volume of
waste material that must be removed to allow the mining of one tonne of ore in
an open pit. </P>
<P align=justify><B>Sulfides or sulphides:</B> compounds of sulfur (or sulphur)
with other metallic elements. </P>
<P align=justify><B>Tailing:</B> material rejected from a mill after the
recoverable valuable minerals have been extracted. </P>
<P align=justify><B>Terrane: </B>a rock formation or assemblage of rock
formations that share a common geologic history. </P>
<P align=justify><B>Tuff</B>: a general term for consolidated pyroclastic rocks.
</P>
<P align=justify><B>Vein:</B> sheet-like body of minerals formed by fracture
filling or replacement of host rock. </P>
<P align=justify><B>Vuggy:</B> containing small cavities in a rock or vein,
often with a mineral lining of different composition from that of the
surrounding rock. </P>
<P align=right>5 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_8></A><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Linear Measurements</B> </TD>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left width="65%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 inch</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >2.54 centimeters </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 foot</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >0.3048 meter </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 yard</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >0.9144 meter </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 mile</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >1.609 kilometers
</TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Area Measurements</B> </TD>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left width="65%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 acre</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >0.4047 hectare </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 hectare</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >2.471 acres </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 square mile</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >640 acres or 259 hectares or 2.59
      square kilometers </TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Units of Weight</B> </TD>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left width="65%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 short ton</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >2000 pounds or 0.893 long ton
  </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 long ton</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >2240 pounds or 1.12 short tons
  </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 metric tonne</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >2204.62 pounds or 1.1023 short
      tons </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 pound (16 oz.)</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >0.454 kilograms or 14.5833 troy
      ounces </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 troy oz.</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >31.1035 grams </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>1 troy oz. per short ton</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >34.2857 grams per metric tonne
  </TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center><B>Analytical</B> </TD>
    <TD align=center width="25%"><B>percent</B> </TD>
    <TD align=center width="25%"><B>grams per metric tonne</B> </TD>
    <TD align=center width="25%"><B>troy oz per short ton</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center>1% </TD>
    <TD align=center width="25%">1% </TD>
    <TD align=center width="25%">10,000 </TD>
    <TD align=center width="25%">291.667 </TD></TR>
  <TR vAlign=top>
    <TD align=center>1 gram/tonne </TD>
    <TD align=center width="25%">0.0001% </TD>
    <TD align=center width="25%">1 </TD>
    <TD align=center width="25%">0.029167 </TD></TR>
  <TR vAlign=top>
    <TD align=center>1 troy oz./short ton </TD>
    <TD align=center width="25%">0.003429% </TD>
    <TD align=center width="25%">34.2857 </TD>
    <TD align=center width="25%">1 </TD></TR>
  <TR vAlign=top>
    <TD align=center>10 ppb </TD>
    <TD align=center width="25%">nil </TD>
    <TD align=center width="25%">0.01 </TD>
    <TD align=center width="25%">0.00029 </TD></TR>
  <TR vAlign=top>
    <TD align=center>100 ppm </TD>
    <TD align=center width="25%">0.01 </TD>
    <TD align=center width="25%">100 </TD>
    <TD align=center width="25%">2.917 </TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Temperature Conversion Formulas</B> </TD>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="65%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Degrees Fahrenheit</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >(&#176;C x 1.8) + 32 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Degrees Celsius</B> </TD>
    <TD align=left width="10%" >= </TD>
    <TD align=left width="65%" >(&#176;F - 32) x 0.556
</TD></TR></TABLE></DIV>
<P align=right>6 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_9></A>
<P align=justify><B>Frequently Used Abbreviations and Symbols </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>AA</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >atomic absorption
      spectrometry </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Ag</B> </TD>
    <TD align=left width="85%" >silver </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>As</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >arsenic </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Au</B> </TD>
    <TD align=left width="85%" >gold </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>&#176;C</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >degrees Celsius
      (centigrade) </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>CIM</B> </TD>
    <TD align=left width="85%" >Canadian Institute of Mining,
      Metallurgy and Petroleum </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>cm</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >centimeter </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>C.P.G.</B> </TD>
    <TD align=left width="85%" >Certified Professional Geologist
    </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>CSAMT</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >Controlled source
      audio-frequency magnetotellurics </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Cu</B> </TD>
    <TD align=left width="85%" >copper </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>ESIA</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >Environmental
      &amp; Social Impact Assessment </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>F</B> </TD>
    <TD align=left width="85%" >fluorine </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>&#176;F</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >degrees
      Fahrenheit </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>g</B> </TD>
    <TD align=left width="85%" >gram(s) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>g/t</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >grams per tonne
    </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Hg</B> </TD>
    <TD align=left width="85%" >mercury </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>HSE</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >high sulphidation
      epithermal </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>ICP AES</B> </TD>
    <TD align=left width="85%" >inductively coupled plasma atomic
      emission spectroscopy </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>ICP MS</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >inductively
      coupled plasma mass spectroscopy </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>ICP MS/AAS</B> </TD>
    <TD align=left width="85%" >inductively coupled plasma mass
      spectroscopy/atomic absorption spectroscopy </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>IOCG</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff
      >iron-oxide-copper-gold </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>IP</B> </TD>
    <TD align=left width="85%" >Induced polarization </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>JORC</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >Joint Ore
      Reserves Committee </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>JV</B> </TD>
    <TD align=left width="85%" >joint venture </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>kg</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >kilogram </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>km</B> </TD>
    <TD align=left width="85%" >kilometer </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>m</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >meter(s) </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Ma</B> </TD>
    <TD align=left width="85%" >million years ago </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Mn</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >manganese </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Mo</B> </TD>
    <TD align=left width="85%" >molybdenum </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>n</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >number or count
    </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>oz</B> </TD>
    <TD align=left width="85%" >troy ounce </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>opt</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >ounce per short
      ton </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>oz/ton</B> </TD>
    <TD align=left width="85%" >ounce per short ton </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>oz/tonne</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >ounce per metric
      tonne </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Pb</B> </TD>
    <TD align=left width="85%" >lead </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>PEA</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >Preliminary
      Economic Assessment </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>PGE</B> </TD>
    <TD align=left width="85%" >platinum group element </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>ppb</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >parts per billion
    </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>ppm</B> </TD>
    <TD align=left width="85%" >parts per million </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>QA</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >quality assurance
    </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>QC</B> </TD>
    <TD align=left width="85%" >quality control </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>QP</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >Qualified Person
    </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>sq</B> </TD>
    <TD align=left width="85%" >square </TD></TR></TABLE></DIV>
<P align=right>7 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_10></A>
<P align=justify><B>Frequently Used Abbreviations and Symbols </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Sb</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >antimony </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>VMS</B> </TD>
    <TD align=left width="85%" >volcanogenic massive sulfide
  </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Zn</B> </TD>
    <TD align=left width="85%" bgColor=#e6efff >zinc
  </TD></TR></TABLE></DIV>
<P align=right><BR>8</P>
<P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_11></A>
<P align=center><B>INTRODUCTION </B></P>
<P align=justify>EMX Royalty Corporation (the &#147;Company&#148; or &#147;EMX&#148;) was
incorporated under the laws of the Yukon Territory of Canada on August 21, 2001
as 33544 Yukon Inc. and, on October 10, 2001, changed its name to Southern
European Exploration Ltd. On November 24, 2003, the Company completed the
reverse take-over of Marchwell Capital Corp., a TSX Venture Exchange (&#147;TSX-V&#148;)
listed company incorporated in Alberta on May 13, 1996 and which subsequently
changed its name to Eurasian Minerals Inc. On September 21, 2004, EMX continued
into British Columbia from Alberta under the <I>Business Corporations Act.
</I>On July 19, 2017, EMX changed its name to EMX Royalty Corporation to better
reflect the nature of its business.</P>
<P align=justify>EMX&#146;s head office is located at Suite 501 &#150; 543 Granville
Street, Vancouver, British Columbia V6C 1X8, Canada, and its registered and
records office is located at Northwest Law Group, Suite 704 &#150; 595 Howe Street,
Vancouver, British Columbia V6C 2T5, Canada.</P>
<P align=justify>EMX is a reporting company under the securities legislation of
British Columbia and Alberta and is listed on the TSX-V, as a Tier 1 Company,
and the NYSE American LLC (&#147;NYSE American&#148;). EMX&#146;s common shares without par
value (&#147;Common Shares&#148;) are traded on the TSX-V and the NYSE American under the
symbol &#147;EMX&#148;. </P>
<P align=center><B>BUSINESS OF EMX ROYALTY CORPORATION </B></P>
<P align=justify>EMX is principally in the business of exploring for, and
generating royalties from minerals properties, as well as identifying mineral
property royalty opportunities for purchase. Under the royalty generation
business model, the Company acquires and advances early-stage mineral
exploration projects and then sells the projects to, and thereby forms
relationships with, other parties in consideration of a retained royalty
interest, as well as annual advance royalty and other pre-production cash or
share payments and work commitments. Through its various agreements, EMX may
also provide technical and commercial assistance to such companies as the
projects advance. By selling interests in its projects to third parties for a
royalty interest, EMX:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>reduces its exposure to the costs and risks associated
      with mineral exploration and project development,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>receives near term cash flow from scheduled
      pre-production and milestone based bonus payments,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>maintains the opportunity to participate in exploration
      upside, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>develops a pipeline for potential production royalty
      payments and associated greenfields discoveries in the
  future.</P></TD></TR></TABLE>
<P align=justify>This approach helps preserve the Company&#146;s treasury, which can
be utilized for further project acquisitions and other business initiatives.
</P>
<P align=justify>Strategic investments are an important complement to the
Company&#146;s royalty acquisition and royalty generation initiatives. These
investments are made in under-valued exploration companies identified by the
Company. EMX helps to develop the value of these assets, with exit strategies
that can include royalty positions or equity sales. </P>
<P align=justify>EMX started receiving royalty income as of August 17, 2012 when
it acquired Bullion Monarch Mining, Inc. (&#147;Bullion Monarch&#148; or &#147;BULM&#148;). The
Company&#146;s royalty, exploration, and strategic investment portfolio mainly
consists of properties in North America, Turkey, Europe, Haiti, Australia, New
Zealand, the Russian Federation, and Chile. </P>
<P align=center><B>FINANCIAL AND OTHER INFORMATION </B></P>
<P align=justify>In this Annual Report, unless otherwise specified, all dollar
amounts are expressed in Canadian Dollars (&#147;C$&#148; or &#147;$&#148;). References to &#147;US$&#148; are
to United States dollars. The Government of Canada permits a floating exchange
rate to determine the value of the Canadian dollar against the U.S. dollar.</P>
<P align=center><B>FORWARD-LOOKING STATEMENTS </B></P>
<P align=justify>The Company is a &#147;foreign private issuer&#148; as defined in Rule
3b-4 under the Exchange Act and Rule 405 under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;). Equity securities of the Company are accordingly
exempt from Sections 14(a), 14(b), 14(c), 14(f) and 16 of the Exchange Act
pursuant to Rule 3a12-3 thereunder. </P>
<P align=right>9 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_12></A>
<P align=center><B>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</B>
</P>
<P align=justify>This Annual Report, including the documents incorporated by
reference herein, may contain forward-looking statements. These forward-looking
statements may include statements regarding perceived merit of properties,
exploration results and budgets, mineral reserves and resource estimates, work
programs, capital expenditures, operating costs, cash flow estimates, production
estimates and similar statements relating to the economic viability of a
project, timelines, strategic plans, completion of transactions, market prices
for metals or other statements that are not statements of fact. These statements
relate to analyses and other information that are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions of
management. Statements concerning mineral resource estimates may also be deemed
to constitute &#147;forward-looking statements&#148; to the extent that they involve
estimates of the mineralization that will be encountered if the property is
developed. </P>
<P align=justify>Any statements that express or involve discussions with respect
to predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always, identified
by words or phrases such as &#147;expects&#148;, &#147;anticipates&#148;, &#147;believes&#148;, &#147;plans&#148;,
&#147;projects&#148;, &#147;estimates&#148;, &#147;assumes&#148;, &#147;intends&#148;, &#147;strategy&#148;, &#147;goals&#148;,
&#147;objectives&#148;, &#147;potential&#148;, &#147;possible&#148; or variations thereof or stating that
certain actions, events, conditions or results &#147;may&#148;, &#147;could&#148;, &#147;would&#148;,
&#147;should&#148;, &#147;might&#148; or &#147;will&#148; be taken, occur or be achieved, or the negative of
any of these terms and similar expressions) are not statements of historical
fact and may be forward-looking statements. </P>
<P align=justify>Forward-looking statements are based on a number of material
assumptions, including those listed below, which could prove to be significantly
incorrect:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>the Company&#146;s ability to achieve production at any of its mineral
  properties;
  <LI>estimated capital costs, operating costs, production and economic returns;

  <LI>estimated metal pricing, metallurgy, mineability, marketability and
  operating and capital costs, together with other assumptions underlying the
  Company&#146;s resource and reserve estimates;
  <LI>the Company&#146;s expected ability to develop adequate infrastructure at a
  reasonable cost;
  <LI>assumptions that all necessary permits and governmental approvals will be
  obtained;
  <LI>assumptions made in the interpretation of drill results, the geology,
  grade and continuity of the Company&#146;s mineral deposits;
  <LI>the Company&#146;s expectations regarding demand for equipment, skilled labor
  and services needed for exploration and development of mineral properties; and

  <LI>the Company&#146;s activities will not be adversely disrupted or impeded by
  development, operating or regulatory risks. </LI></UL>
<P align=justify>Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors that could cause actual
events or results to differ from those reflected in the forward-looking
statements, including, without limitation:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>uncertainty of whether there will ever be production at the Company&#146;s
  mineral exploration and development properties;
  <LI>uncertainty of estimates of capital costs, operating costs, production and
  economic returns;
  <LI>uncertainties relating to the assumptions underlying the Company&#146;s
  resource and reserve estimates, such as metal pricing, metallurgy,
  mineability, marketability and operating and capital costs;
  <LI>risks related to the Company&#146;s ability to commence production and generate
  material revenues or obtain adequate financing for its planned exploration and
  development activities;
  <LI>risks related to the Company&#146;s ability to finance the development of its
  mineral properties through external financing, joint ventures or other
  strategic alliances, the sale of property interests or otherwise;
  <LI>risks related to the third parties on which the Company depends for its
  exploration and development activities;
  <LI>dependence on cooperation of joint venture partners in exploration and
  development of properties;
  <LI>credit, liquidity, interest rate and currency risks;
  <LI>risks related to market events and general economic conditions;
  <LI>uncertainty related to inferred mineral resources;
  <LI>risks and uncertainties relating to the interpretation of drill results,
  the geology, grade and continuity of the Company&#146;s mineral deposits;
  <LI>risks related to lack of adequate infrastructure;
  <LI>mining and development risks, including risks related to infrastructure,
  accidents, equipment breakdowns, labor disputes or other unanticipated
  difficulties with or interruptions in development, construction or production;

  <LI>the risk that permits and governmental approvals necessary to develop and
  operate mines on the Company&#146;s properties will not be available on a timely
  basis or at all;
  <LI>commodity price fluctuations; </LI></UL>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_13></A>
<UL style="TEXT-ALIGN: justify">
  <LI>risks related to governmental regulation and permits, including
  environmental regulation;
  <LI>risks related to the need for reclamation activities on the Company&#146;s
  properties and uncertainty of cost estimates related thereto;
  <LI>uncertainty related to title to the Company&#146;s mineral properties;
  <LI>uncertainty as to the outcome of potential litigation;
  <LI>risks related to increases in demand for equipment, skilled labor and
  services needed for exploration and development of mineral properties, and
  related cost increases;
  <LI>increased competition in the mining industry;
  <LI>the Company&#146;s need to attract and retain qualified management and
  technical personnel;
  <LI>risks related to hedging arrangements or the lack thereof;
  <LI>uncertainty as to the Company&#146;s ability to acquire additional commercially
  mineable mineral rights;
  <LI>risks related to the integration of potential new acquisitions into the
  Company&#146;s existing operations;
  <LI>risks related to unknown liabilities in connection with acquisitions;
  <LI>risks related to conflicts of interest of some of the directors of the
  Company;
  <LI>risks related to global climate change;
  <LI>risks related to adverse publicity from non-governmental organizations;
  <LI>risks related to political uncertainty or instability in countries where
  the Company&#146;s mineral properties are located;
  <LI>uncertainty as to the Company&#146;s passive foreign investment company
  (&#147;PFIC&#148;) status;
  <LI>uncertainty as to the Company&#146;s status as a &#147;foreign private issuer&#148; and
  &#147;emerging growth company&#148; in future years;
  <LI>uncertainty as to the Company&#146;s ability to maintain the adequacy of
  internal control over financial reporting; and
  <LI>risks related to regulatory and legal compliance and increased costs
  relating thereto. </LI></UL>
<P align=justify>This list is not exhaustive of the factors that may affect any
of the Company&#146;s forward-looking statements. Forward-looking statements are
statements about the future and are inherently uncertain, and actual
achievements of the Company or other future events or conditions may differ
materially from those reflected in the forward-looking statements due to a
variety of risks, uncertainties and other factors, including, without
limitation, those referred to under the heading &#147;Key Information&#148; (as defined
below), which is incorporated by reference herein.</P>
<P align=justify>The Company&#146;s forward-looking statements are based on the
beliefs, expectations and opinions of management on the date of this Annual
Report, and the Company does not assume any obligation to update forward-looking
statements if circumstances or management&#146;s beliefs, expectations or opinions
should change, except as required by law. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements.</P>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_14></A>
<P align=center><B>CAUTIONARY NOTE TO UNITED STATES INVESTORS REGARDING RESERVE
AND RESOURCE INFORMATION </B></P>
<P align=justify>Unless otherwise indicated, all resource estimates, and any
future reserve estimates, included or incorporated by reference in this annual
report on Form 10-K have been, and will be, prepared in accordance with Canadian
National Instrument 43-101 <I>Standards of Disclosure for Mineral Projects</I>
(&#147;NI 43-101&#148;) and the Canadian Institute of Mining, Metallurgy and Petroleum
Definition Standards for Mineral Resources and Mineral Reserves (&#147;CIM Definition
Standards&#148;). NI 43-101 is a rule developed by the Canadian Securities
Administrators which establishes standards for all public disclosure an issuer
makes of scientific and technical information concerning mineral projects.</P>
<P align=justify>Canadian standards, including NI 43-101, differ significantly
from the requirements of the SEC, and reserve and resource information contained
or incorporated by reference into this annual report on Form 20-F may not be
comparable to similar information disclosed by U.S. companies. In particular,
and without limiting the generality of the foregoing, the term &#147;resource&#148; does
not equate to the term &#147;reserves&#148;. Under SEC Industry Guide 7, mineralization
may not be classified as a &#147;reserve&#148; unless the determination has been made that
the mineralization could be economically and legally produced or extracted at
the time the reserve determination is made. SEC Industry Guide 7 does not define
and the SEC&#146;s disclosure standards normally do not permit the inclusion of
information concerning &#147;measured mineral resources&#148;, &#147;indicated mineral
resources&#148; or &#147;inferred mineral resources&#148; or other descriptions of the amount
of mineralization in mineral deposits that do not constitute &#147;reserves&#148; by U.S.
standards in documents filed with the SEC. U.S. investors should also understand
that &#147;inferred mineral resources&#148; have a great amount of uncertainty as to their
existence and great uncertainty as to their economic and legal feasibility. It
cannot be assumed that all or any part of an &#147;inferred mineral resource&#148; will
ever be upgraded to a higher category. Under Canadian rules, estimated &#147;inferred
mineral resources&#148; may not form the basis of feasibility or pre-feasibility
studies except in rare cases. Investors are cautioned not to assume that all or
any part of an &#147;inferred mineral resource&#148; exists or is economically or legally
mineable. Disclosure of &#147;contained ounces&#148; or "contained pounds" in a resource
is permitted disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report mineralization that does not constitute
&#147;reserves&#148; by SEC standards as in-place tonnage and grade without reference to
unit measures. The requirements of NI 43-101 for identification of &#147;reserves&#148;
are also not the same as those of the SEC, and any reserves reported by us in
the future in compliance with NI 43-101 may not qualify as &#147;reserves&#148; under SEC
standards. Accordingly, information concerning mineral deposits set forth herein
may not be comparable to information made public by companies that report in
accordance with United States standards.</P>
<P align=right>12 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_15></A>
<P align=center><B>PART I</B> </P>
<P align=justify><B><U>ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND
ADVISERS</U></B></P>
<P align=justify>Not applicable.</P>
<P align=justify><B><U>ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE</U></B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>ITEM 3. KEY INFORMATION</U></B> </P>
<P align=justify><B><U>3.A.1. and 3.A.2 Selected Financial Data</U></B></P>
<P align=justify>The selected financial data of the Company for the fiscal years
ending December 31, 2017, 2016, 2015, 2014 and 2013 was derived from the
financial statements of the Company that have been audited by Davidson and
Company LLP, Independent Registered Public Accountants, as indicated in their
audit report, which are included elsewhere in this Annual Report. </P>
<P align=justify>The Company has not declared any dividends since incorporation
and does not anticipate that it will do so in the foreseeable future. The
present policy of the Company is to retain all available funds for use in its
operations and the expansion of its business. </P>
<P align=justify>Table No. 3 is derived from the financial statements of the
Company, which have been prepared in accordance with International Financial
Reporting Standards as issued by the International Accounting Standards Board.
</P>
<P align=center>Table No. 3 <BR>Selected Financial Data <BR>(C$) <BR></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" align=left >&nbsp;
    </TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=right width="11%"><B>Year
      </B><B>Ended</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=right width="11%"><B>Year
      </B><B>Ended</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=right width="11%"><B>Year
      </B><B>Ended</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=right width="11%"><B>Year
      </B><B>Ended</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double" align=right width="11%"><B>Year
      </B><B>Ended</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="11%"><B>December </B><B>31, </B><B>2017&nbsp;</B><B>
      </B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="11%"
    ><STRONG>December 31, 2016</STRONG></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="11%"
    ><STRONG>December 31, 2015</STRONG></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="11%"
    ><STRONG>December 31, 2014</STRONG></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="11%"
    ><STRONG>December 31, 2013</STRONG> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff ><B>IFRS</B> </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Royalty income </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="11%">2,857,927 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="11%">2,227,322 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="11%">1,609,553 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="11%">2,247,334 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="11%">3,102,888 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Exploration expenditures
      (net) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>4,471,074 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>4,999,959 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>4,364,675 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>5,022,658 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>3,839,703 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Loss from operations </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(7,781,070</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(8,267,563</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(8,087,982</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(8,681,619</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(7,680,848</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left >Net loss for the year </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">(7,393,384</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">(2,683,482</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">(6,875,857</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">(17,448,041</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">(13,982,612</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Net loss per share-basic and
      diluted </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(0.09</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(0.04</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(0.09</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(0.24</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>(0.19</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="11%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Wtd. Avg. Shares </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>78,002,082 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>73,874,415 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>73,480,833 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>73,154,139 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>72,509,793 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Period-end Shares </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">79,725,187 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">74,089,710 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">73,534,710 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">73,371,710 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">72,980,209 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#e6efff >&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="11%" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Working capital </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">6,535,893 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">6,002,318 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">5,787,109 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">7,096,916 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">14,217,999 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Exploration and evaluation
      assets (net) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>1,841,966 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>2,145,000 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>2,381,540 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>2,379,886 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>3,031,368 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Royalty interest </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">21,943,743 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">25,831,152 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">28,798,980 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">29,327,960 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">35,063,725 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Total assets </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>45,750,784 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>47,843,555 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>50,624,129 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>54,292,093 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="11%" bgColor=#e6efff>70,073,220 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Share capital </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">124,062,091 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">117,504,585 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">117,000,052 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">116,766,102 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="11%">116,151,675 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left bgColor=#e6efff
    >Deficit </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="11%"
    bgColor=#e6efff>(104,382,744</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="11%"
     bgColor=#e6efff>(96,989,360</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>)&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="11%"
     bgColor=#e6efff>(94,305,878</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>)&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="11%"
     bgColor=#e6efff>(87,430,021</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="11%"
    bgColor=#e6efff>(69,981,980</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD></TR></TABLE></DIV>
<P align=justify><B><U>3.A.3. Exchange Rates</U></B> </P>
<P align=justify>In this Annual Report, unless otherwise specified, all dollar
amounts are expressed in Canadian Dollars (&#147;C$&#148;, &#147;CDN&#148;). The Government of
Canada permits a floating exchange rate to determine the value of the Canadian
Dollar against the U.S. Dollar (&#147;US$&#148;). </P>
<P align=justify>Table No. 4 sets forth the exchange rates for the Canadian
Dollar at the end of five most recent fiscal years ended December 31, the
average rates for the period, and the range of high and low rates for the
period. The data for each month during the most recent six months is also
provided.</P>
<P align=justify>For purposes of this table, the exchange rate means the Bank of
Canada noon rate. The table sets forth the number of Canadian Dollars required
to buy one U.S. dollar. The average exchange rate means the average of the
exchange rates on the last day of each month during the period.</P>
<P align=right>13 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_16></A>
<P align=center>Table No. 4 <BR>U.S. Dollar/Canadian Dollar <BR></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double" align=left
      ><B>Last </B><B>6 </B><B>months
      </B><B>ended</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=center width="15%" >Average </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=center width="15%">High </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=center width="15%" >&nbsp;Low </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=center width="15%">Close </TD>
  </TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD align=right width="15%" >&nbsp;</TD>
    <TD align=right width="15%">&nbsp;</TD>
    <TD align=right width="15%" >&nbsp;</TD>
    <TD align=right width="15%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >March 1 to 28, 2018 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.2926</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.3091 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.2804</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.2859 </TD></TR>
  <TR vAlign=top>
    <TD align=left >February 2018 </TD>
    <TD align=right width="15%" >1.2563</TD>
    <TD align=right width="15%">1.2790 </TD>
    <TD align=right width="15%" >1.2297</TD>
    <TD align=right width="15%">1.2791 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >January 2018 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.2436</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.2570 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.2301</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.2301 </TD></TR>
  <TR vAlign=top>
    <TD align=left >December 2017 </TD>
    <TD align=right width="15%" >1.2755</TD>
    <TD align=right width="15%">1.2819 </TD>
    <TD align=right width="15%" >1.2551</TD>
    <TD align=right width="15%">1.2551 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >November 2017 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.2756</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.2886 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.2677</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.2881 </TD></TR>
  <TR vAlign=top>
    <TD align=left >October 2017 </TD>
    <TD align=right width="15%" >1.2591</TD>
    <TD align=right width="15%">1.2865 </TD>
    <TD align=right width="15%" >1.2462</TD>
    <TD align=right width="15%">1.2865 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >September 2017 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.3244</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.3403 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.3097</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.3403 </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD align=right width="15%" ></TD>
    <TD align=right width="15%">&nbsp;</TD>
    <TD align=right width="15%" >&nbsp;</TD>
    <TD align=right width="15%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff ><B>Last </B><B>Quarter
      </B><B>&amp; </B><B>Last </B><B>5
      </B><B>Years</B> </TD>
    <TD align=right width="15%"  bgColor=#e6efff></TD>
    <TD align=right width="15%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="15%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="15%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Fiscal Year Ended December 31, 2017 </TD>
    <TD align=right width="15%" >1.2986</TD>
    <TD align=right width="15%">1.3743 </TD>
    <TD align=right width="15%" >1.2128</TD>
    <TD align=right width="15%">1.2944 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Fiscal Year Ended December
      31, 2016 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.3251</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.4602 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.2533</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.3437 </TD></TR>
  <TR vAlign=top>
    <TD align=left >Fiscal Year Ended December 31, 2015 </TD>
    <TD align=right width="15%" >1.2783</TD>
    <TD align=right width="15%">1.3955 </TD>
    <TD align=right width="15%" >1.1613</TD>
    <TD align=right width="15%">1.3869 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Fiscal Year Ended December
      31, 2014 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.1041</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.1643 </TD>
    <TD align=right width="15%"  bgColor=#e6efff>1.0627</TD>
    <TD align=right width="15%" bgColor=#e6efff>1.1627 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=left
      >Fiscal Year Ended December 31, 2013 </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="15%"
    >1.0298</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="15%">1.0703 </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="15%"
    >0.9835</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right
      width="15%">1.0694 </TD></TR></TABLE></DIV>
<P align=justify>On March 28, 2018, the exchange rate was C$1.2859 to US$1. </P>
<P align=justify><B><U>3.B. Capitalization and Indebtedness</U></B></P>
<P align=justify>Not applicable</P>
<P align=justify><B><U>3.C. Reasons For The Offer And Use Of Proceeds</U></B>
</P>
<P align=justify>Not applicable</P>
<P align=justify><B><U>3.D. Risk Factors</U></B><B> </B></P>
<P align=justify>Investment in the Common Shares involves a significant degree
of risk and should be considered speculative due to the nature of the Company&#146;s
business and the present stage of its development. Prospective investors should
carefully review the following factors together with other information contained
in this Annual Report before making an investment decision. </P>
<P align=justify><B>Mineral Property Exploration Risks </B></P>
<P align=justify>The business of mineral exploration and extraction involves a
high degree of risk. Few properties that are explored ultimately become
producing mines. At present, none of the Company&#146;s properties has a known
commercial ore deposit. The main operating risks include ensuring ownership of
and access to mineral properties by confirmation that option agreements, claims
and leases are in good standing and obtaining permits for drilling and other
exploration activities.</P>
<P align=justify>When EMX earns interests in properties through option
agreements, the acquisition of title to the properties is only completed when
the option conditions have been met. These conditions generally include making
property payments, incurring exploration expenditures on the properties and can
include the satisfactory completion of pre-feasibility studies. If the Company
does not satisfactorily complete these option conditions in the time frame laid
out in the option agreements, the Company&#146;s title to the related property will
not vest and the Company will have to write-off any previously capitalized costs
related to that property. </P>
<P align=justify>The market prices for precious and base metals can be volatile
and there is no assurance that a profitable market will exist for a production
decision to be made or for the ultimate sale of the metals even if commercial
quantities of precious and other metals are discovered. </P>
<P align=justify><B>Revenue and Royalty Risks </B></P>
<P align=justify>The Company cannot predict future revenues or operating results
of the area of mining activity. Management expects future revenues from the
Carlin Trend Royalty Claim Block, including the Leeville royalty property in
Nevada, to fluctuate depending on the level of future production and the price
of gold. Specifically, there is a risk that the operator of the property, Newmont Mining Corporation (&#147;Newmont&#148;), will cease to operate
in the Company&#146;s area of interest, therefore there can be no assurance that
ongoing royalty payments will materialize or be received by EMX. </P>
<P align=right>14 </P>
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<A name=page_17></A>
<P align=justify><B>Financing and Share Price Fluctuation Risks </B></P>
<P align=justify>EMX has limited financial resources and has no assurance that
additional funding will be available for further exploration and development of
its projects. Further exploration and development of one or more of the
Company&#146;s projects may be dependent upon the Company&#146;s ability to obtain
financing through equity or debt financing or other means. Failure to obtain
this financing could result in delay or indefinite postponement of further
exploration and development of its projects which could result in the loss of
one or more of its properties. </P>
<P align=justify>The securities markets can experience a high degree of price
and volume volatility, and the market price of securities of many companies,
particularly those considered to be development stage companies, such as EMX,
may experience wide fluctuations in share prices which may not necessarily be
related to their operating performance, underlying asset values or prospects.
There can be no assurance that share price fluctuations will not occur in the
future, and if they do occur, the severity of the impact on EMX&#146;s ability to
raise additional funds through equity issues. </P>
<P align=justify><B>Foreign Countries and Political Risks </B></P>
<P align=justify>The Company operates in countries with varied political and
economic environments. As such, it is subject to certain risks, including
currency fluctuations and possible political or economic instability which may
result in the impairment or loss of mineral concessions or other mineral rights,
opposition from environmental or other non-governmental organizations, and
mineral exploration and mining activities may be affected in varying degrees by
political stability and government regulations relating to the mineral
exploration and mining industry. Any changes in regulations or shifts in
political attitudes are beyond the control of the Company and may adversely
affect its business. Exploration and development may be affected in varying
degrees by government regulations with respect to restrictions on future
exploitation and production, price controls, export controls, foreign exchange
controls, income taxes, expropriation of property, environmental legislation and
mine and site safety. </P>
<P align=justify>Notwithstanding any progress in restructuring political
institutions or economic conditions, the present administration, or successor
governments, of some countries in which EMX operates may not be able to sustain
any progress. If any negative changes occur in the political or economic
environment of these countries, it may have an adverse effect on the Company&#146;s
operations in those countries. The Company does not carry political risk
insurance. </P>
<P align=justify><B>Competition </B></P>
<P align=justify>The Company competes with many companies that have
substantially greater financial and technical resources than it in the
acquisition and development of its projects as well as for the recruitment and
retention of qualified employees. </P>
<P align=justify><B>We do not intend to pay any cash dividends in the
foreseeable future. </B></P>
<P align=justify>The Company has not declared or paid any dividends on our
Common Shares. Our current business plan requires that for the foreseeable
future, any future earnings be reinvested to finance the growth and development
of our business. We do not intend to pay cash dividends on the Common Shares in
the foreseeable future. We will not declare or pay any dividends until such time
as our cash flow exceeds our capital requirements and will depend upon, among
other things, conditions then existing including earnings, financial condition,
restrictions in financing arrangements, business opportunities and conditions
and other factors, or our Board determines that our shareholders could make
better use of the cash.<B> </B></P>
<P align=justify><B>No Assurance of Titles or Borders</B></P>
<P align=justify>The acquisition of the right to exploit mineral properties is a
very detailed and time consuming process. There can be no guarantee that the
Company has acquired title to any such surface or mineral rights or that such
rights will be obtained in the future. To the extent they are obtained, titles
to the Company&#146;s surface or mineral properties may be challenged or impugned and
title insurance is generally not available. The Company&#146;s surface or mineral
properties may be subject to prior unregistered agreements, transfers or claims
and title may be affected by, among other things, undetected defects. Such third
party claims could have a material adverse impact on the Company&#146;s operations.
</P>
<P align=right>15 </P>
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<A name=page_18></A>
<P align=justify><B>Unknown Defects or Impairments in Our Royalty or Streaming
Interests </B></P>
<P align=justify>Unknown defects in or disputes relating to the royalty and
stream interests we hold or acquire may prevent us from realizing the
anticipated benefits from our royalty and stream interests, and could have a
material adverse effect on our business, results of operations, cash flows and
financial condition. It is also possible that material changes could occur that
may adversely affect management&#146;s estimate of the carrying value of our royalty
and stream interests and could result in impairment charges. While we seek to
confirm the existence, validity, enforceability, terms and geographic extent of
the royalty and stream interests we acquire, there can be no assurance that
disputes over these and other matters will not arise. Confirming these matters,
as well as the title to mining property on which we hold or seek to acquire a
royalty or stream interest, is a complex matter, and is subject to the
application of the laws of each jurisdiction to the particular circumstances of
each parcel of mining property and to the documents reflecting the royalty or
stream interest. Similarly, royalty and stream interests in many jurisdictions
are contractual in nature, rather than interests in land, and therefore may be
subject to change of control, bankruptcy or the insolvency of operators. We
often do not have the protection of security interests over property that we
could liquidate to recover all or part of our investment in a royalty or stream
interest. Even if we retain our royalty and stream interests in a mining project
after any change of control, bankruptcy or insolvency of the operator, the
project may end up under the control of a new operator, who may or may not
operate the project in a similar manner to the current operator, which may
negatively impact us. </P>
<P align=justify><B>Operators&#146; Interpretation of Our Royalty and Stream
Interests; Unfulfilled Contractual Obligations</B> </P>
<P align=justify>Our royalty and stream interests generally are subject to
uncertainties and complexities arising from the application of contract and
property laws in the jurisdictions where the mining projects are located.
Operators and other parties to the agreements governing our royalty and stream
interests may interpret our interests in a manner adverse to us or otherwise may
not abide by their contractual obligations, and we could be forced to take legal
action to enforce our contractual rights. We may or may not be successful in
enforcing our contractual rights, and our revenues relating to any challenged
royalty or stream interests may be delayed, curtailed or eliminated during the
pendency of any such dispute or in the event our position is not upheld, which
could have a material adverse effect on our business, results of operations,
cash flows and financial condition. Disputes could arise challenging, among
other things: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>the existence or geographic extent of the royalty or stream interest;
  <LI>methods for calculating the royalty or stream interest, including whether
  certain operator costs may properly be deducted from gross proceeds when
  calculating royalties determined on a net basis;
  <LI>third party claims to the same royalty interest or to the property on
  which we have a royalty or stream interest;
  <LI>various rights of the operator or third parties in or to the royalty or
  stream interest;
  <LI>production and other thresholds and caps applicable to payments of royalty
  or stream interests;
  <LI>the obligation of an operator to make payments on royalty and stream
  interests; and
  <LI>various defects or ambiguities in the agreement governing a royalty and
  stream interest. </LI></UL>
<P align=justify><B>Currency Risks </B></P>
<P align=justify>The Company&#146;s equity financings are sourced in Canadian dollars
but much of its expenditures are in local currencies or U.S. dollars. At this
time, there are no currency hedges in place. Therefore, a weakening of the
Canadian dollar against the U.S. dollar or local currencies could have an
adverse impact on the amount of exploration funds available and work
conducted.<B> </B></P>
<P align=justify><B>Exploration Funding Risk </B></P>
<P align=justify>The Company&#146;s strategy is to seek exploration partners through
options to fund exploration and project development. The main risk of this
strategy is that the funding parties may not be able to raise sufficient capital
in order to satisfy exploration and other expenditure terms in a particular
agreement. As a result, exploration and development of one or more of the
Company&#146;s property interests may be delayed depending on whether EMX can find
another party or has enough capital resources to fund the exploration and
development on its own. </P>
<P align=justify><B>Insured and Uninsured Risks </B></P>
<P align=justify>In the course of exploration, development and production of
mineral properties, the Company is subject to a number of risks and hazards in
general, including adverse environmental conditions, operational accidents,
labor disputes, unusual or unexpected geological conditions, changes in the
regulatory environment and natural phenomena such as inclement weather
conditions, floods, and earthquakes. Such occurrences could result in the damage
to the Company&#146;s property or facilities and equipment, personal injury or death,
environmental damage to properties of the Company or others, delays, monetary
losses and possible legal liability. </P>
<P align=right>16 </P>
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<A name=page_19></A>
<P align=justify>Although the Company may maintain insurance to protect against
certain risks in such amounts as it considers reasonable, its insurance may not
cover all the potential risks associated with its operations. The Company may
also be unable to maintain insurance to cover these risks at economically
feasible premiums or for other reasons. Should such liabilities arise, they
could reduce or eliminate future profitability and result in increased costs,
have a material adverse effect on the Company&#146;s results and a decline in the
value of the securities of the Company. </P>
<P align=justify>Some work is carried out through independent consultants and
the Company requires all consultants to carry their own insurance to cover any
potential liabilities as a result of their work on a project. </P>
<P align=justify><B>Environmental Risks and Hazards </B></P>
<P align=justify>The activities of the Company are subject to environmental
regulations issued and enforced by government agencies. Environmental
legislation is evolving in a manner that will require stricter standards and
enforcement and involve increased fines and penalties for non-compliance, more
stringent environmental assessments of proposed projects, and a heightened
degree of responsibility for companies and their officers, directors and
employees. There can be no assurance that future changes in environmental
regulation, if any, will not adversely affect the Company&#146;s operations.
Environmental hazards may exist on properties in which the Company holds
interests which are unknown to the Company at present.</P>
<P align=justify>We or the mining properties in which we have an interest are
subject to substantial government regulation in the United States and in the
other jurisdictions in which we operate. Changes to regulation or more stringent
implementation could have a material adverse effect on our results of operations
and financial condition. </P>
<P align=justify>Mining and exploration activities are subject to various laws
and regulations relating to the protection of the environment, such as the
federal Clean Water Act and the Nevada Water Pollution Control Law. Although we
currently believe that we are in compliance with existing environmental and
mining laws and regulations and that our proposed exploration programs will also
meet those standards, no assurance can be given that we will remain in
compliance with applicable regulations or that new rules and regulations will
not be enacted or that existing rules and regulations will not be applied in a
manner that could limit or curtail production or development of our
properties.</P>
<P align=justify><B>Reform of the General Mining Law could adversely impact our
results of operations.</B> </P>
<P align=justify>A majority of our mining properties in the United States
consist of unpatented mining claims on federal lands. Legislation has been
introduced regularly in the U.S. Congress over the last decade to change the
General Mining Law of 1872, as amended (the "Mining Law"), under which we hold
these unpatented mining claims. It is possible that the Mining Law may be
amended or replaced by less favorable legislation in the future. Previously
proposed legislation contained a production royalty obligation, new
environmental standards and conditions, additional reclamation requirements and
extensive new procedural steps which would likely result in delays in
permitting. The ultimate content of future proposed legislation, if enacted, is
uncertain. At present, there is no royalty payable to the United States on
production from unpatented mining claims, although legislative attempts to
impose a royalty have occurred in recent years. Amendments to current laws and
regulations governing our operations and activities of exploration, development
mining and milling or more stringent implementation thereof could have a
material adverse effect on our business, financial condition and results of
operations and cause increases in exploration expenses, capital expenditures or
production costs or reduction in levels of production or require delays or
abandonment in the development of new mining properties. If a royalty on
unpatented mining claims were imposed, the profitability of our U.S. unpatented
mining claims could be materially adversely affected.</P>
<P align=justify>Any such reform of the Mining Law could increase the costs of
mining activities on unpatented mining claims, or could materially impair our
ability to develop or continue operations which derive ore from federal lands,
and as a result, could have an adverse effect on us and our results of
operations.</P>
<P align=justify><B>Mineral reserves are only estimates which may be
unreliable.</B></P>
<P align=justify>Although mineralization may not be classified as a &#147;reserve&#148;
unless the mineralization can be economically and legally extracted or produced
at the time the &#147;reserve&#148; determination is made, &#147;mineral reserves&#148; are
estimates only, and no assurance can be given that the anticipated tonnages and
grades will be achieved, that the indicated level of recovery will be realized
or that mineral reserves can be mined or processed profitably. Mineral reserve
and mineral resource estimates may be materially affected by environmental,
permitting, legal, title, taxation, socio-political, marketing and other
relevant issues. There are numerous uncertainties inherent in estimating mineral
reserves and mineral resources, including many factors beyond our control. Such
estimation is a subjective process, and the accuracy of any mineral reserve or
mineral resource estimate is a function of the quantity and quality of available
data, the nature of the mineralized body and of the assumptions made and judgments used in engineering and geological
interpretation. These estimates may require adjustments or downward revisions
based upon further exploration or development work or actual production
experience.</P>
<P align=right>17 </P>
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<A name=page_20></A>
<P align=justify>Fluctuations in metal prices, results of drilling,
metallurgical testing and production, the evaluation of mine plans after the
date of any estimate, permitting requirements or unforeseen technical or
operational difficulties may require revision of mineral reserve estimates.
Prolonged declines in the market price of precious and base metals may render
mineral reserves containing relatively lower grades of mineralization
uneconomical to recover and could materially reduce our mineral reserves. Should
reductions in mineral reserves occur, we may be required to take a material
write-down of our investment in mining properties, reduce the carrying value of
one or more of our assets or delay or discontinue production or the development
of new projects, resulting in increased net losses and reduced cash flow.
Mineral reserves should not be interpreted as assurances of mine life or of the
profitability of current or future operations. There is a degree of uncertainty
attributable to the calculation and estimation of mineral reserves and
corresponding grades being mined and, as a result, the volume and grade of
mineral reserves mined and processed and recovery rates may not be the same as
currently anticipated. Any material reductions in estimates of mineral reserves,
or of our ability to extract these mineral reserves, could have a material
adverse effect on our results of operations and financial condition.</P>
<P align=justify><B>Fluctuating Metal Prices </B></P>
<P align=justify>Factors beyond the control of the Company have a direct effect
on global metal prices, which have fluctuated widely, particularly in recent
years, and there is no assurance that a profitable market will exist for a
production decision to be made or for the ultimate sale of the metals even if
commercial quantities of precious and other metals are discovered on any of the
Company&#146;s properties. Consequently, the economic viability of any of the
Company&#146;s exploration projects and its ability to finance the development of its
projects cannot be accurately predicted and may be adversely affected by
fluctuations in metal prices. </P>
<P align=justify><B>Extensive Governmental Regulation and Permitting
Requirements Risks </B></P>
<P align=justify>Exploration, development and mining of minerals are subject to
extensive laws and regulations at various governmental levels governing the
acquisition of the mining interests, prospecting, development, mining,
production, exports, taxes, labor standards, occupational health, waste
disposal, toxic substances, land use, environmental protection, mine safety and
other matters. In addition, the current and future operations of EMX, from
exploration through development activities and production, require permits,
licenses and approvals from some of these governmental authorities. EMX has
obtained all government licenses, permits and approvals necessary for the
operation of its business to date. However, additional licenses, permits and
approvals may be required. The failure to obtain any licenses, permits or
approvals that may be required or the revocation of existing ones would have a
material and adverse effect on EMX, its business and results of operations. </P>
<P align=justify>Failure to comply with applicable laws, regulations and permits
may result in enforcement actions thereunder, including orders issued by
regulatory or judicial authorities requiring the Company&#146;s operations to cease
or be curtailed, and may include corrective measures requiring capital
expenditures, installation of additional equipment or remedial actions. EMX may
be required to compensate those suffering loss or damage by reason of its
mineral exploration activities and may have civil or criminal fines or penalties
imposed for violations of such laws, regulations and permits. Any such events
could have a material and adverse effect on EMX and its business and could
result in EMX not meeting its business objectives.</P>
<P align=justify>In addition, we are required to expend significant resources to
comply with numerous corporate governance and disclosure regulations and
requirements adopted by U.S. federal and state and Canadian federal and
provincial governments, as well as the TSX and NYSE American. These additional
compliance costs and related diversion of the attention of management and key
personnel could have a material adverse effect on our business, financial
condition and results of operations. </P>
<P align=justify><B>Key Personnel Risk </B></P>
<P align=justify>The Company&#146;s success is dependent upon the performance of key
personnel working in management and administrative capacities or as consultants.
The loss of the services of senior management or key personnel could have a
material and adverse effect on the Company, its business and results of
operations. The Company does not carry &#147;key personnel&#148; insurance.</P>
<P align=right>18 </P>
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<A name=page_21></A>
<P align=justify><B>Conflicts of Interest </B></P>
<P align=justify>In accordance with the laws of British Columbia and the United
States, the directors and officers of a Company are required to act honestly, in
good faith and in the best interests of the Company. EMX&#146;s directors and
officers may serve as directors or officers of other companies or have
significant shareholdings in other resource companies and, to the extent that
such other companies may participate in ventures in which the Company may
participate, such directors and officers may have a conflict of interest in
negotiating and concluding terms respecting the extent of such participation. If
such a conflict of interest arises at a meeting of the Company&#146;s directors, a
director with such a conflict will abstain from voting for or against the
approval of such participation or such terms. </P>
<P align=justify><B>Passive Foreign Investment Company </B></P>
<P align=justify>U.S. investors in common shares should be aware that based on
current business plans and financial expectations, EMX currently expects that it
will be classified as a passive foreign investment company (&#147;PFIC&#148;) for the tax
year ending December 31, 2018 and expects to be a PFIC in future tax years. If
EMX is a PFIC for any tax year during a U.S. shareholder&#146;s holding period, then
such U.S. shareholder generally will be required to treat any gain realized upon
a disposition of common shares, or any so-called &#147;excess distribution&#148; received
on its common shares, as ordinary income, and to pay an interest charge on a
portion of such gain or distributions, unless the U.S. shareholder makes a
timely and effective &#147;qualified electing fund&#148; election (&#147;QEF Election&#148;) or a
&#147;mark-to-market&#148; election with respect to the common shares. A U.S. shareholder
who makes a QEF Election generally must report on a current basis its share of
the Company&#146;s net capital gain and ordinary earnings for any year in which EMX
is a PFIC, whether or not EMX distributes any amounts to its shareholders. For
each tax year that EMX qualifies as a PFIC, EMX intends to: (a) make available
to U.S. shareholders, upon their written request, a &#147;PFIC Annual Information
Statement&#148; as described in Treasury Regulation Section 1.1295 -1(g) (or any
successor Treasury Regulation) and (b) upon written request, use commercially
reasonable efforts to provide all additional information that such U.S.
shareholder is required to obtain in connection with maintaining such QEF
Election with regard to EMX. EMX may elect to provide such information on its
website <U><FONT color=#0000ff>www.EMXRoyalty.com</FONT></U>. This paragraph
is qualified in its entirety by the discussion below the heading &#147;Taxation &#150;
Certain United States Federal Income Tax Considerations.&#148; Each U.S. investor
should consult its own tax advisor regarding the PFIC rules and the U.S. federal
income tax consequences of the acquisition, ownership and disposition of common
shares. </P>
<P align=justify><B>U.S. federal income tax reform could adversely affect us
</B></P>
<P align=justify>On December 22, 2017, legislation commonly known as the Tax
Cuts and Jobs Act, or TCJA, was signed into law, significantly reforming the
U.S. Internal Revenue Code. The TCJA, among other things, includes changes to
U.S. federal tax rates, imposes significant additional limitations on the
deductibility of interest, allows for the expensing of capital expenditures,
puts into effect the migration from a &#147;worldwide&#148; system of taxation to a
territorial system and modifies or repeals many business deductions and credits.
We continue to examine the impact the TCJA may have on our business. We will
evaluate the effect of the TCJA on our projection of minimal cash taxes or to
our net operating losses. The estimated impact of the TCJA is based on our
management&#146;s current knowledge and assumptions and recognized impacts could be
materially different from current estimates based on our actual results and our
further analysis of the new law. Our net deferred tax assets and liabilities
will be revalued at the newly enacted U.S. corporate rate, and the impact will
be recognized in our tax expense in the year of enactment. The impact of the
TCJA on holders of common shares is uncertain and could be adverse. This Annual
Report does not discuss any such tax legislation or the manner in which it might
affect purchasers of common shares. We urge our stockholders, including
purchasers of common shares, to consult with their own legal and tax advisors
with respect to such legislation and the potential tax consequences of investing
in common shares. </P>
<P align=justify><B>Corporate Governance and Public Disclosure Regulations
</B></P>
<P align=justify>The Company is subject to changing rules and regulations
promulgated by a number of United States and Canadian governmental and
self-regulated organizations, including the United States Securities and
Exchange Commission (&#147;SEC&#148;), the British Columbia and Alberta Securities
Commissions, the NYSE American and the TSX-V. These rules and regulations
continue to evolve in scope and complexity and many new requirements have been
created, making compliance more difficult and uncertain. The Company&#146;s efforts
to comply with the new rules and regulations have resulted in, and are likely to
continue to result in, increased general and administrative expenses and a
diversion of management time and attention from revenue-generating activities to
compliance activities. </P>
<P align=justify><B>Internal Controls over Financial Reporting</B></P>
<P align=justify>Applicable securities laws require an annual assessment by
management of the effectiveness of the Company&#146;s internal control over financial
reporting. The Company may, in the future, fail to achieve and maintain the
adequacy of its internal control over financial reporting, as such standards are
modified, supplemented or amended from time to time, and the Company may not be able to ensure that it can conclude on an
ongoing basis that it has effective internal control over financial reporting.
Future acquisitions may provide the Company with challenges in implementing the
required processes, procedures and controls in its acquired operations. Acquired
Corporations may not have disclosure controls and procedures or internal control
over financial reporting that are as thorough or effective as those required by
securities laws currently applicable to the Company. </P>
<P align=right>19 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_22></A>
<P align=justify>No evaluation can provide complete assurance that the Company&#146;s
internal control over financial reporting will detect or uncover all failures of
persons within the Company to disclose material information otherwise required
to be reported. The effectiveness of the Company&#146;s controls and procedures could
also be limited by simple errors or faulty judgments. In addition, should the
Company expand in the future, the challenges involved in implementing
appropriate internal control over financial reporting will increase and will
require that the Company continue to improve its internal control over financial
reporting. </P>
<P align=justify><B><U>ITEM 4. INFORMATION ON THE COMPANY</U></B></P>
<P align=justify><B><U>4.A. History and Development of the Company</U></B><B>
</B></P>
<P align=justify><I><U>General Background</U></I><I> </I></P>
<P align=justify>EMX Royalty Corporation was incorporated under the laws of the
Yukon Territory of Canada on August 21, 2001 as 33544 Yukon Inc. and, on October
10, 2001, changed its name to Southern European Exploration Ltd. On November 24,
2003, the Company completed the reverse take-over of Marchwell Capital Corp., a
TSX-V-listed company incorporated in Alberta on May 13, 1996 and which
subsequently changed its name to Eurasian Minerals Inc. On September 21, 2004,
EMX continued into British Columbia from Alberta under the <I>Business
Corporations Act</I>. On July 19, 2017, EMX changed its name to EMX Royalty
Corporation to better reflect the nature of its business.<I> </I></P>
<P align=justify>EMX is a reporting issuer under the securities legislation of
British Columbia and Alberta, and is listed on the TSX-V Exchange as a Tier 1
issuer and the NYSE American Exchange, with both listings under the symbol
&#147;EMX&#148;.</P>
<P align=justify>The Company&#146;s corporate office is located at Suite 501, 543
Granville Street, Vancouver, British Columbia, Canada V6C 1X8, and its telephone
number is 604-688-6390. The Company&#146;s registered and records office is located
at Suite 704, 595 Howe Street, Vancouver, British Columbia, V6C 2T5. The
Company&#146;s technical office is located at 10001 W. Titan Road, Littleton,
Colorado, United States of America, 80125, and its telephone number is
303-973-8585. The contact person is Marien Segovia, Corporate Secretary. </P>
<P align=justify><I><U>Fiscal Year ended December 31, 2015</U></I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>In February 2015, Mr. Paul H. Stephens was appointed to
      the Company&#146;s advisory board. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>In March 2015, Dr. M. Stephen Enders resigned from the
      position of Chief Operating Officer and as a Director of the Board. Dr.
      Enders continued as a consultant and was appointed to the Company&#146;s
      advisory board. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On May 4, 2015 the Company announced the signing of an
      Exploration and Option to Purchase Agreement (the "Superior West
      Agreement"), through its wholly owned subsidiary Bronco Creek Exploration
      Inc. ("BCE"), for the Superior West porphyry copper project (the "Superior
      West Project") with Kennecott Exploration Company (&#147;Superior West
      Agreement&#148;). The project is located nearby the Resolution porphyry copper
      project within the Superior Mining District, approximately 100 kilometers
      east of Phoenix, Arizona. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Superior West Agreement, Kennecott can
      earn a 100% interest in the Project by making a cash payment upon
      execution of the Agreement of US$149,187, and thereafter completing
      US$5,500,000 in exploration expenditures and paying annual option payments
      totaling US$1,000,000 before the fifth anniversary of the Superior West
      Agreement. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Upon exercise of the option the Company will retain a 2%
      NSR royalty on the properties. Kennecott has the right to buy down 1% of
      the NSR royalty covering 14 claims which are optioned (the &#147;Optioned
      Claims&#148;) from underlying claim holders by payment of US$4,000,000 to EMX.
      Except with respect to the Optioned Claims, the royalty is not capped and
      not subject to buy-down. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>After exercise of the option, annual advanced minimum
      royalty (&#147;AMR&#148;) payments are due starting at US$125,000 and commencing on
      the first anniversary of the exercise of the option. The AMR payments will
      increase to US$200,000 upon completion of an Order of Magnitude Study
      ("OMS") or Preliminary Economic Assessment ("PEA"). Kennecott may make a one-time payment of
US$4,000,000 to extinguish the obligation to make AMR payments. In addition, if
not previously extinguished, total AMR payments after the OMS or PEA milestone
payment are capped at US$4,000,000, and all AMR payments cease upon production
from the Superior West Project.
  </P></TD></TR></TABLE>
<P align=right>20 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_23></A>
<P style="MARGIN-LEFT: 5%" align=justify>In addition, Kennecott will make
milestone payments consisting of: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>US$500,000 upon completion of an OMS or PEA; </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>US$1,000,000 upon completion of a Prefeasibility Study;
      and </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>US$2,500,000 upon completion of a Feasibility Study. The
      Feasibility Study payment will be credited against future royalty
      payments. </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On May 26, 2015 the Company reported the initial NI
      43-101 resource estimate and Russian Federation project approvals for the
      Malmyzh copper-gold porphyry project (see the Section 4D, Strategic
      Investments, IG Copper LLC for additional discussion). The Malmyzh
      exploration and mining licenses, located in the Russian Far East, are held
      by a Joint Venture between IG Copper LLC (&#147;IGC&#148;) (51%) and
      Freeport-McMoRan Exploration Corporation (&#147;Freeport&#148;) (49%), with IGC
      operating and managing the project. The Company is IGC&#146;s largest
      shareholder. EMX&#146;s investment in IGC is in recognition of the significant
      potential of the district-scale discovery at Malmyzh, as well as IGC&#146;s
      success in acquiring additional exploration properties in a prospective
      region under-explored for its porphyry copper-gold potential. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On June 11, 2015 the Company announced that pursuant to
      the Company&#146;s Stock Option Plan, an aggregate of 1,341,500 incentive stock
      options, exercisable at a price of $0.66 per share for a period of five
      years, had been granted to officers, directors, employees and consultants
      of the Company. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On July 13, 2015 the Company announced that the National
      Instrument 43-101 <I>Standards of Disclosure for Mineral </I><I>Projects
      </I>technical report titled "NI 43-101 Technical Report on the Initial
      Mineral Resource Estimate for the Malmyzh Copper-Gold Project, Khabarovsk
      Krai, Russian Federation" (the "Report") dated July 10, 2015 was filed on
      SEDAR at <U><FONT color=#0000ff>www.sedar.com </FONT></U>and on the SEC&#146;s
      website at <U><FONT color=#0000ff>www.sec.gov. </FONT></U></P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On August 4, 2015 the Company announced the signing of an
      Exploration and Option to Purchase Agreement, through its wholly owned
      subsidiary BCE, for the Aguila de Cobre porphyry copper project (the
      "Aguila de Cobre Project") with Kennecott (the &#147;Aguila de Cobre
      Agreement&#148;). The Aguila de Cobre Project is located approximately 120
      kilometers west of Phoenix, Arizona in a relatively un-explored region of
      the Arizona porphyry copper belt. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Aguila de Cobre Agreement, Kennecott can
      earn a 100% interest in the Aguila de Cobre Project by making cash
      payments and performing exploration as follows (all amounts are US$):
    </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" ><I>Cash Payments:
  </I></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >$25,000 upon execution of the
      Aguila de Cobre Agreement (firm commitment); </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >$25,000 on the first and second
      anniversaries of the Agreement; </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >$50,000 on the third anniversary
      of the Aguila de Cobre Agreement; and </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >$100,000 upon exercise of the
      Option. </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" ><I>Exploration:
</I></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>Completing $250,000 of exploration expenditures (or
      paying the Company that amount) by the first anniversary of the Aguila de
      Cobre Agreement (firm commitment); and </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>Completing an additional $3,750,000 of exploration
      expenditures (or paying the Company that amount) by the third anniversary
      of the Aguila de Cobre Agreement. </P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Upon exercise of the option, the
Company will retain a 2% NSR royalty on the property. The royalty is not capped
and not subject to buy-down. The Aguila de Cobre Agreement contains a one-mile
area of interest provision. </P>
<P style="MARGIN-LEFT: 5%" align=justify>After exercise of the option, AMR
payments are due starting at $50,000 and commencing on the first anniversary of
the exercise of the option. The AMR payments will increase to $100,000 upon
completion of an OMS or PEA, after which Kennecott may make a one-time payment
of $2,500,000 to extinguish the obligation to make future AMR payments. In
addition, if not previously extinguished, total AMR payments after the OMS or
PEA milestone payment are capped at $2,500,000, and all AMR payments cease upon
production from the properties. </P>
<P style="MARGIN-LEFT: 5%" align=justify>In addition, Kennecott will make
milestone payments consisting of: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left>- </TD>
    <TD align=left width="85%" >$500,000 upon completion of an
      OMS or PEA; </TD></TR></TABLE>
<P align=right>21 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_24></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >$500,000 upon completion of a
      Pre-Feasibility Study; and </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >
      <P align=justify>- </P></TD>
    <TD align=left width="85%" >
      <P align=justify>$1,000,000 upon completion of a Feasibility Study - this
      payment will be credited against future royalty payments.
  </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On October 30, 2015 the Company announced that it had
      regained 100% control of the Akarca gold-silver project in Turkey (the
      &#147;Property&#148;). The Company had an agreement with &#199;olakoglu Ticari Yatirim
      A.S. ("&#199;olakoglu"), a privately owned Turkish company, for an option to
      acquire AES Turkey, a Turkish corporation that controls the property.
      &#199;olakoglu advised the Company that it decided to forego exercising the
      option. &#199;olakoglu made cash payments of US $350,000 to the Company while
      advancing the property through substantial exploration and drilling
      programs, as well as metallurgical and environmental studies. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>The Akarca project is a grassroots discovery highlighted
      by six separate gold-silver mineralized centers occurring within a
      district-scale area. Exploration completed at the time included 245 core
      and reverse circulation holes totaling about 26,400 meters of drilling and
      property-wide geologic mapping, geochemical sampling, and geophysical
      surveys. This work had been conducted primarily through partner-funded
      programs totaling over US $13 million that considerably advanced the
      project. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On November 2, 2015 the Company announced the sale of its
      interests in Haiti to joint venture partner Newmont Ventures Limited
      (&#147;Newmont&#148; or "NVL"), a wholly owned subsidiary of Newmont Mining
      Corporation, for a US $4 million (CDN $5.3 million) cash payment and a
      retained 0.5% NSR royalty interest. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>The now terminated EMX-Newmont joint ventures (the &#147;Joint
      Ventures&#148;) covered six designated exploration areas along a 130 kilometer
      trend of northern Haiti's Massif du Nord mineral belt. Since 2013,
      activities in the designated exploration areas were limited to care and
      maintenance only. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the transaction, Newmont acquired all of the
      Company's interest in the Research Permit applications on the following
      terms: </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>Newmont paid US $4 million (CDN $5.3 million) in cash to
      the Company at closing; </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>The Joint Ventures were terminated; </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>The Company retains a 0.5% NSR royalty on the 49 Research
      Permit applications covering the designated exploration areas; and
  </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>The Company retains the right to acquire any properties
      proposed to be abandoned or surrendered by Newmont.
</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >
      <P align=justify>&#149; </P></TD>
    <TD align=left width="95%" >
      <P align=justify>On November 16, 2015, the Company announced the
      resignation of Valerie Barlow as Corporate Secretary and the appointment
      of Kim Casswell in her place. </P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>On November 23, 2015, the Company
announced the signing of an Exploration and Option Agreement with Black Sea
Copper &amp; Gold Corp. (&#147;Black Sea&#148;), a privately-held British Columbia
corporation (the &#147;Black Sea Agreement&#148;), for the Alankoy copper-gold property in
northwestern Turkey. Black Sea's option to earn a 100% interest in the
subsidiary companies that control the property required work commitments,
payments, and annual advance royalties (&#147;AARs&#148;).The Company was to retain a
production royalty of 3% for gold, silver, and other precious metals and 2% for
all other minerals produced from the project.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On November 24, 2015 the Company announced the signing of
      an Exploration and Option Agreement (the &#147;Hardshell Agreement&#148;), through
      its wholly owned subsidiary BCE, for the Hardshell Skarn property (the
      "Hardshell Property") with Arizona Minerals Inc. (&#147;AMI&#148;). The Hardshell
      Property is located approximately 75 kilometers southeast of Tucson,
      Arizona within the Patagonia Mountains and is included in Arizona
      Minerals's Hermosa project. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Hardshell Agreement, AMI could earn a
      100% interest in the Hardshell Property by making cash payments totaling
      $85,000 (all amounts are US$). Upon exercise of the option the Company
      will retain a 2% NSR royalty on the Hardshell Property and will receive
      AAR payments of $5,000 commencing on the first anniversary of the exercise
      of the option. The royalty is not capped and not subject to buy-down.
    </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On December 10, 2015 the Company announced that IGC had
      advised that an additional license had been granted for the Malmyzh
      copper-gold porphyry project in Far East Russia. The Malmyzh licenses are
      held by IGC (51%) and Freeport (49%), with IGC operating and managing the
      project. The new "Malmzyh Flanks" exploration license expands the Joint
      Venture's land position covering the Malmyzh district for a total of 226.9
      square kilometers, and includes additional areas for potential
      infrastructure development as well as extensions to known exploration
      targets. EMX is IGC's largest shareholder. </P></TD></TR></TABLE>
<P align=right>22 </P>
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  <TR vAlign=top>
    <TD align=left >
      <P align=justify>&#149; </P></TD>
    <TD align=left width="95%" >
      <P align=justify>On December 23, 2015 the Company announced it had been
      advised of the initial shipment of material for processing from the Balya
      lead-zinc-silver royalty property by owner and operator Dedeman Balya
      Kursun Cinko Isletmeleri A.S. The Company retains an uncapped 4% net
      smelter return royalty on the Balya property, which is located in the
      historic Balya mining district of northwestern Turkey. The Dedeman group
      (collectively "Dedeman") includes privately-held Turkish mining companies
      with active operations that produce lead, zinc, silver, and chromite.
    </P></TD></TR></TABLE>
<P align=justify><I><U>Fiscal Year ended December 31, 2016</U></I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On February 23, 2016 the Company announced the execution
      of a purchase agreement (the &#147;Golden Predator Agreement&#148;) for net smelter
      return royalty interests on the Maggie Creek and Afgan gold properties
      from Golden Predator US Holding Corp. (&#147;Golden Predator&#148;), a wholly-owned
      subsidiary of Till Capital Ltd. ("TCL"). Golden Predator had a 2% NSR
      royalty on all precious metals and a 1% NSR royalty on all other minerals
      for the Maggie Creek property, which is located north-northeast of Newmont
      Mining Corporation's ("Newmont") Gold Quarry open pit operations on the
      Carlin Trend, and a 1% NSR royalty on all minerals for the Afgan property,
      which occurs on the Battle Mountain-Eureka Trend. The addition of these
      two royalty assets strengthened the Company's growing Nevada gold
      portfolio that includes the Leeville royalty property on the Northern
      Carlin Trend, as well as the Maggie Creek South royalty property located
      south-southeast of Gold Quarry. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>A summary of the Golden Predator Agreement's commercial
      terms includes: </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >
      <P align=justify>- </P></TD>
    <TD align=left width="85%" >
      <P align=justify>Purchase by the Company of Golden Predator&#146;s NSR
      royalties covering the Maggie Creek (2% NSR on precious metals and 1% NSR
      royalty on all other minerals) and Afgan (1% NSR royalty) properties;
    </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >Issuance by the Company of
      250,000 EMX shares to TCL as consideration for the purchase; and </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >Approval by the TSX-V and NYSE
      American as a condition precedent to closing the transaction.
  </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >On March 7, 2016 the Company
      announced that the purchase of net smelter return royalty interests had
      been completed for the Maggie Creek and Afgan gold properties from Golden
      Predator after receiving approvals from the TSX Venture and NYSE American
      Exchanges. </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >In Q1 2016, EMX sold its 100%
      controlled Grand Bois project in Haiti, which was outside the Joint
      Venture with Newmont, to a privately held Nevada corporation. EMX retained
      a 0.5% NSR royalty interest in the Grand Bois project and the right to
      acquire any properties proposed to be abandoned or surrendered from the
      Grand Bois project in the future. </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >On July 25, 2016 the Company
      reported that IGC advised that approval to advance the Malmyzh copper-gold
      project had been received from the Government Commission on Monitoring
      Foreign Investment (the "Commission") chaired by Prime Minister Dmitry
      Medvedev. The Malmyzh exploration and mining licenses are held by IGC
      (51%) and Freeport- McMoRan Exploration Corporation (49%) (the "Joint
      Venture"), with IGC operating and managing the project. The Commission's
      approval marks a pivotal milestone in the development of the Malmzyh
      project. EMX is IGC&#146;s largest shareholder. </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >IGC advised that the Commission's
      approval represents the successful completion of the review process
      required for &#147;strategically significant&#148; deposits according to Russian law
      (i.e., the Law on Foreign Investments in Strategic Industries, also termed
      the Strategic Industries Law or "SIL"). The SIL approval process commenced
      after the Joint Venture, through its Russian subsidiary Amur Minerals LLC,
      received certified &#147;on balance C1+C2 reserves&#148; from the GKZ (State
      Reserves Committee) that exceeded thresholds for both copper and gold
      defining Malmyzh as a "strategically significant" mineral deposit. EMX
      emphasizes that the Malmyzh &#147;C1+C2 reserves&#148; were estimated according to
      the rules and regulations of the Russian Federation, and are not the same
      as reserves under NI 43-101 or SEC Industry Guide 7. According to IGC,
      highlights of the Commission's approval included: </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>The Joint Venture, as a majority foreign owned business
      entity, has been approved to retain control of the Malmyzh project
      exploration and mining licenses. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>The Joint Venture, therefore, maintains mining and
      production rights for the Malmyzh and Malmyzh North exploration and mining
      licenses. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>The Joint Venture holds 100% of the rights for the
      Malmyzh and Malmyzh North exploration and mining licenses, and is entitled
      to recover all minerals of economic value including copper, gold and by-
      product minerals. </P></TD></TR></TABLE>
<P align=right>23 </P>
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noShade SIZE=5>
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<TABLE
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  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>The conclusion of the SIL process initiated a new,
      multi-year phase in the project's development, including additional
      technical work (i.e., drilling, exploration, metallurgy, engineering, and
      hydrology), as well as environmental, social, and economic assessments.
      This next phase of work will ultimately conclude as a detailed "TEO<SUP>1
      </SUP>of Permanent Conditions" report, which is considered to be a
      precursor to commencement of exploitation and mining. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify><B><I><SUP>1 </SUP></I></B><I>Technico-Economicheskiye
      Obosnovaniye (Technical-Economic Basis)</I> </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On August 3, 2016, the Company announced the sale of EBX
      Madencilik A.S., the wholly-owned EMX subsidiary that controls the Sisorta
      gold property (the &#147;Sisorta Property&#148;) in Turkey, to Bahar Madencilik
      Sinayi ve Ticaret Ltd Sti ("Bahar"), a privately owned Turkish company,
      pursuant to a Share Purchase Agreement (the &#147;Sisorta Agreement&#148;) with
      Bahar. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>The Sisorta Agreement provides for Bahar's staged
      payments to EMX as summarized below (all amounts in USD):
  </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>$250,000 cash payment to EMX upon closing of the sale.
      </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>Annual cash payments of $125,000 (&#147;Advance Cash
      Payments&#148;) payable on each anniversary of the closing date until
      commencement of commercial production from the Sisorta Property.
</P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>3.5% of production returns after certain deductions (&#147;NSR
      Payment") for ore mined from the Sisorta Property that is processed
      on-site (increased to 5% if the ore is processed off-site). </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>The Advance Cash Payments will be credited at a rate of
      80% against the NSR Payment payable after commercial production commences.
      </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>The NSR Payment is uncapped and cannot be bought out or
      reduced. </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>Bahar intends to conduct advanced exploration and
      development work on the Sisorta project. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On August 8, 2016 the Company announced the sale of AES
      Madencilik A.S., the wholly-owned EMX subsidiary that controls the Akarca
      gold-silver project (the &#147;Akarca Property&#148;) in western Turkey, to &#199;iftay
      Insaat Taahh&#252;t ve Ticaret A.S. ("&#199;iftay"), a privately owned Turkish
      company. The Akarca Property is an EMX grassroots discovery highlighted by
      six separate gold-silver mineralized centers occurring within a
      district-scale area. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>The terms of the sale provide payments to EMX as
      summarized below (all dollar amounts in United States dollars and all gold
      payments can be as gold bullion or the cash equivalent):
</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>$2,000,000 cash payment to EMX upon closing of the sale
      (completed). </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>500 ounces of gold every six months commencing February
      1, 2017 up to a cumulative total of 7,000 ounces of gold. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>7,000 ounces of gold within 30 days after the
      commencement of commercial production from the Akarca Property provided
      that prior gold payments will be credited against this payment. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>250 ounces of gold upon production of 100,000 ounces of
      gold from the Akarca Property. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>250 ounces of gold upon production of an aggregate of
      500,000 ounces of gold from the Akarca Property. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>A sliding-scale royalty in the amount of the following
      percentages of production returns after certain deductions (&#147;Akarca
      Royalty&#148;) for ore mined from the Akarca Property: </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>For gold production: 1.0% on the first 100,000 ounces of
      gold; 2.0% on the next 400,000 ounces of gold; 3.0% on all gold production
      in excess of 500,000 ounces produced from the Akarca Property. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>For all production other than gold production: 3.0%.
    </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>The Akarca Royalty is uncapped and cannot be bought out
      or reduced. </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>In addition, &#199;iftay must conduct a drilling program of at
      least 3,000 meters on the Akarca Property during each 12- month period
      starting on August 5, 2016 until commencement of commercial production.
      </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On September 8, 2016 the Company provided an update on
      exploration results from the Company's spring and summer programs in
      Norway and Sweden. EMX built a portfolio of exploration projects in
      Scandinavia, and compiled geologic information and generated drill targets
      on those properties. Reconnaissance drilling at the Gumsberg Volcanogenic
      Massive Sulfide (&#147;VMS&#148;) project, located in the prolific Bergslagen
      district of Sweden, yielded several shallow high grade intercepts of
      polymetallic mineralization along a &gt; 2 kilometer trend of
      mineralization. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On October 17, 2016 the Company announced the sale of
      five patented mining claims comprising its Ophir property in Utah (the
      &#147;Utah Property&#148;), through its wholly owned subsidiary Bullion Monarch
      Mining Inc., to Kennecott. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>Upon closing of the sale of the Utah Property:
  </P></TD></TR></TABLE>
<P align=right>24 </P>
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noShade SIZE=5>
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<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left>- </TD>
    <TD align=left width="85%" >Kennecott paid EMX US$75,000,
  </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left>- </TD>
    <TD align=left width="85%" >EMX retained a 2% NSR royalty,
      and </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left>- </TD>
    <TD align=left width="85%" >EMX retains the rights to
      exploration data generated from the Property. </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>As a result of the sale, the Ophir property has been
      added to EMX's royalty portfolio. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On October 19, 2016 the Company announced the execution
      of an Exploration and Option to Purchase Agreement (the "Copper King
      Agreement"), through its wholly owned subsidiary BCE, for the Copper King
      porphyry copper project (the &#147;Copper King Project&#148;) with Kennecott. The
      Copper King Project is located approximately 100 kilometers east of
      Phoenix, Arizona within the Superior Mining District, and approximately
      four kilometers northwest of the Resolution porphyry copper deposit.
    </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Copper King Agreement, Kennecott can earn
      a 100% interest in the Copper King Project by (a) reimbursing the 2016
      holding costs and making option payments, together totaling US$504,314
      (US$29,314 related to holding costs received), and (b) completing
      US$4,000,000 in exploration expenditures before the fifth anniversary of
      the Copper King Agreement. Upon exercise of the option EMX will retain a
      2% NSR royalty on the Copper King Project which is not capped or
      purchasable. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>After exercise of the option, AMR payments are due
      starting at US$100,000 and commencing on the first anniversary of the
      exercise of the option. The AMR payments will increase to US$150,000 upon
      completion of an Order of Magnitude Study ("OMS") or PEA. Kennecott may
      make a one-time payment of US$3,500,000 to extinguish the obligation to
      make AMR payments. In addition, if not previously extinguished, total AMR
      payments after the OMS or PEA milestone payment are capped at
      US$3,500,000, and all AMR payments cease upon commencement of production
      from the Project. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>In addition, Kennecott will make milestone payments
      consisting of: </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>US$500,000 upon completion of an OMS or PEA; </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>US$1,000,000 upon completion of a Prefeasibility Study;
      and </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>US$2,000,000 upon completion of a Feasibility Study. The
      Feasibility Study payment will be credited against future royalty
      payments. </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On October 27, 2016 the Company announced that it had
      entered into an exploration and option agreement (the &#147;Coeur Agreement&#148;),
      through its wholly-owned subsidiary BCE, with Coeur Explorations, Inc., a
      subsidiary of Coeur Mining, Inc. (&#147;Coeur&#148;) for the Mineral Hill
      gold-copper property (&#147;Mineral Hill Property&#148;) in Wyoming. EMX&#146;s Mineral
      Hill project is held under a pooling agreement with a private group,
      Mineral Hill L.P. (&#147;MHL&#148;), with all proceeds split 50:50, except for the
      sale of surface rights associated with several patented mining claims.
    </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Coeur Agreement, Coeur may acquire a 100%
      interest in the Mineral Hill Property by a) making yearly option payments,
      beginning upon execution of the Coeur Agreement, totaling US$435,000
      (US$10,000 received upon execution), b) making exploration expenditures
      totaling US$1,550,000 on or before the fifth anniversary of the agreement,
      and c) paying US$250,000 upon exercise of the option. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Upon exercise of the option, EMX and MHL will retain a 4%
      NSR royalty, of which Coeur may purchase up to 1.5% of the NSR royalty if,
      within sixty days after the completion of a PEA, Coeur purchases the first
      0.5% for US$1,000,000. Coeur may purchase an additional 0.5% or 1% of the
      NSR royalty at any time thereafter for US$2,000,000 per 0.5% interest
      (maximum total buy down of 1.5%), with EMX and MHL retaining a 2.5%
      interest. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>After the option exercise, EMX and MHL will receive
      annual advance minimum royalties of US$150,000 and, upon completion of a
      feasibility study, a milestone payment of US$1,000,000. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On November 22, 2016 the Company announced the execution
      of a definitive agreement with Boreal Metals Corp. (&#147;BMC&#148;), a British
      Columbia corporation, pursuant to which BMC acquired two wholly-owned
      subsidiaries of the Company that control the Gumsberg and Adak exploration
      assets in Sweden and the Tynset and Burfjord assets in Norway (the
      &#147;Scandinavian Properties&#148;). Closing occurred in Q1 2017.
</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>At closing, EMX transferred to BMC its entire interest in
      its wholly-owned subsidiary Iekelvare AB, which owns or will own that
      portion of the Scandinavian Properties located in Sweden, and its entire
      interest in its wholly-owned subsidiary EMX Exploration Scandinavia AB,
      which owns that portion of the Scandinavian Properties located in Norway.
      </P></TD></TR></TABLE>
<P align=right>25 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_28></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>At closing, BMC issued to EMX that number of common
      shares of BMC that represents a 19.9% equity ownership in BMC; BMC had the
      continuing obligation to issue additional shares of BMC to EMX to maintain
      its 19.9% interest in BMC, at no additional cost to EMX, until BMC has
      raised CDN$5,000,000 in equity; thereafter EMX has the right to
      participate pro-rata in future financings at its own cost to maintain its
      19.9% interest in BMC. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will receive an uncapped 3% NSR royalty on each of
      the Scandinavian Properties. Within five years of the closing date, BMC
      has the right to buy down up to 1% of the royalty owed to EMX on any given
      project (leaving EMX with a 2% NSR) by paying EMX US$2,500,000 in cash and
      shares of BMC. Such buy down is project specific. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will receive AAR payments of US$20,000 for each of
      the Properties commencing on the second anniversary of the closing, with
      each AAR payment increasing by US$5,000 per year until reaching US$60,000
      per year, except that BMC may forgo AAR payments on two of the four
      Scandinavian Properties in years two and three. Once reaching US$60,000,
      AAR payments will be adjusted each year according to the Consumer Price
      Index (as published by the U.S. Department of Labor, Bureau of Labor
      Statistics). </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will receive a 0.5% NSR royalty on any new mineral
      exploration projects generated by BMC in Sweden or Norway, excluding
      projects acquired from a third party containing a mineral resource or
      reserve or an existing mining operation. These royalties are not capped
      and not subject to a buy down. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>EMX has the right to one seat on the Board of Directors
      of BMC. </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On December 16, 2016 the Company announced that it was
      changing the ticker symbol of its common shares listed on the NYSE
      American from <B>EMXX </B>to <B>EMX </B>effective Monday, December 26,
      2016. The Company trades on both the TSX Venture and NYSE American
      exchanges as EMX. </P></TD></TR></TABLE>
<P align=justify><I><U>Fiscal Year ended December 31, 2017</U></I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On January 24, 2017 the Company announced initial results
      from IGC's fall-winter drill program at the Malmyzh copper- gold porphyry
      project, including the longest mineralized intercept drilled to date on
      the property. Drill hole AMM-213 intersected 747.4 meters (108.7-856.1 m)
      averaging 0.49% copper equivalent (0.41% copper and 0.17 g/t gold)
      principally hosted in phreatomagmatic breccias and diorite porphyries at
      the Freedom Northwest prospect (true width). The hole doubled the drilled
      vertical extent of the Freedom Northwest system, while bottoming in
      mineralization. In addition, reconnaissance drilling at the Sleeper West
      prospect intersected a shallow zone of 109 meters averaging 0.58% copper
      equivalent (0.53% copper and 0.09 g/t gold) starting at 13.5 meters in
      hole AMM-210 (true width). Freedom Northwest and Sleeper West are not
      included in the current Malmyzh resource estimate, which underscores the
      project's additional exploration upside. The Malmyzh exploration and
      mining licenses are held by IGC (51%) and Freeport- McMoRan Exploration
      Corporation (49%) (the "Joint Venture"), with IGC operating and managing
      the project. EMX is IGC&#146;s largest shareholder. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On January 25, 2017 the Company provided an update on the
      Company's Leeville royalty property that covers portions of Newmont Mining
      Corporation's ("Newmont") underground mining operations in the Northern
      Carlin Trend. EMX has noted an increase in Leeville royalty revenue and
      equity gold ounces starting in mid-2016. In addition to royalty income
      from gold production, the Leeville property also provides the Company with
      upside exposure to Newmont's ongoing exploration advancements at the Rita
      K and Full House gold deposits. Newmont expects initial resources for Rita
      K in 2018, and has already outlined resources at Full House. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On February 8, 2017 the Company announced the receipt of
      a payment of US $601,825, the cash equivalent of 500 troy ounces of gold,
      from &#199;iftay Insaat Taahh&#252;t ve Ticaret A.S. ("&#199;iftay"), as part of the
      payment schedule for the Akarca gold-silver project in western Turkey. The
      Akarca Property was transferred to &#199;iftay in August, 2016 for a
      combination of cash, future payment streams denominated in gold bullion,
      and a royalty interest. &#199;iftay informed EMX that it had completed an
      initial 49 hole diamond drill program comprising 6,032 meters on the
      Akarca Property in the 4th quarter of 2016. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On February 28, 2017 the Company announced the execution
      of an option agreement (the "Copper Springs Agreement"), through its
      wholly owned subsidiary BCE, for the Copper Springs porphyry copper
      project ("Copper Springs Project") with Anglo American Exploration (USA),
      Inc. (&#147;Anglo American&#148;). The Copper Springs Project is located
      approximately 120 kilometers east of Phoenix, Arizona within the
      Globe-Miami Mining District. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Copper Springs Agreement, Anglo American
      can earn a 100% interest in the Copper Springs Project by (a) reimbursing
      BCE&#146;s 2016 holding and permitting costs and making annual option payments,
      together totaling US$447,000, and (b) completing US$5,000,000 in
      exploration expenditures before the fifth anniversary of the Agreement.
      Upon exercise of the option, Anglo American will pay EMX an additional
      US$110,000 and EMX will retain a 2% NSR royalty on the Copper Springs
Project. The royalty is not capped or purchasable, except over two parcels of
Arizona State Land where Anglo American can buy a 0.5% NSR royalty from EMX for
US$2,000,000.</P></TD></TR></TABLE>
<P align=right>26 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_29></A>
<P style="MARGIN-LEFT: 5%" align=justify>After exercise of the option, AMR
Payments of US$100,000 are due, commencing on the first anniversary of the
exercise of the option. The AMR Payments will increase to US$200,000 upon
completion of a Scoping Study or PEA. Anglo American may make a one-time payment
of US$3,500,000 to extinguish the obligation to make any post-Scoping Study AMR
payments. All AMR Payments cease upon commencement of production from the
project.</P>
<P style="MARGIN-LEFT: 5%" align=justify>In addition, Anglo American will make
milestone payments consisting of:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >US$500,000 upon completion of a
      Scoping Study or PEA; </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >US$1,000,000 upon completion of a
      Prefeasibility Study; and </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >US$2,000,000 upon completion of a
      Feasibility Study. The Feasibility Study payment will be credited against
      future royalty payments. </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>Anglo American will manage and operate the Copper Springs
      Project. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On April 12, 2017 the Company announced the completion of
      a non-brokered private placement (all dollar amounts in CDN). The Company
      raised $7,000,000 by the issuance of 5,000,000 units at a price of $1.40
      per unit. Each unit was comprised of one common share and one-half of one
      non-transferable common share purchase warrant. Each whole warrant
      entitles the holder to purchase an additional common share for $2.00 until
      April 12, 2019. Fees were paid on a portion of the Private Placement. The
      fees consisted of 246,604 units (6% of the units sold to investors
      introduced by finders) issued to Sprott Global Resource Investments, Ltd.
      (219,424 units), Sprott Private Wealth LP (15,000 units), Haywood
      Securities Inc. (10,380 units) and Mackie Research Capital Corporation
      (1,800 units). Insiders of the Company purchased 89,230 units and Pro
      Group members a further 19,000 units. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On May 3, 2017 the Company announced the appointment of
      Mr. Thomas G. Mair as General Manager of Corporate Development. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On July 17, 2017 the Company announced a name change from
      Eurasian Minerals Inc. to EMX Royalty Corporation effective July 19, 2017
      to better reflect the nature of its business. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On July 25, 2017 the Company announced IGC's 2017 drill
      results from the Malmyzh copper-gold porphyry project's Freedom Northwest
      prospect, including an intercept of 417.3 meters (219.4-636.7 m) averaging
      0.60% copper equivalent (0.50% copper and 0.21 g/t gold), including a
      higher grade sub-interval of 142.6 meters (255.4-398.0 m) averaging 0.74%
      copper equivalent (0.62% copper and 0.26 g/t gold) from hole AMM-216 (true
      widths). The mineralization is principally hosted in magmatic-hydrothermal
      breccias. The ongoing exploration program at Freedom Northwest represents
      the first deep drill testing at Malmyzh, as previous drilling has been
      concentrated on shallow mineralization throughout the district. Freedom
      Northwest is not included in the current Malmyzh resource estimate, which
      further emphasizes the project's exploration upside. EMX is IGC&#146;s largest
      shareholder. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On August 4, 2017, EMX received a payment of US$634,015,
      the cash equivalent of 500 troy ounces of gold as the second gold bullion
      payment, from &#199;iftay, as part of the payment schedule for the Akarca
      gold-silver project in western Turkey. The Akarca Property was transferred
      to &#199;iftay in August, 2016 for a combination of cash, future payment
      streams denominated in gold bullion, and a royalty interest. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On September 19, 2017 the Company announced that
      Koonenberry Gold Pty Ltd. (&#147;KNB&#148;) had completed the earn-in requirements
      under the Exploration and Option Agreement (the &#147;Koonenberry Agreement&#148;)
      dated January 31, 2014 between North Queensland Mining Pty Ltd. (&#147;NQM&#148;)
      and the Company, and had elected to acquire EMX&#146;s Koonenberry exploration
      licenses (the "Koonenberry Project") in New South Wales, Australia. KNB is
      the successor in interest to NQM under the Koonenberry Agreement. In
      accordance with the Koonenberry Agreement, EMX has transferred its
      wholly-owned subsidiary EMX Exploration Pty Ltd, the holder of the
      Koonenberry licenses, to KNB, a private Australian company formed for the
      sole purpose of developing the project. EMX has retained a 3% production
      royalty on all future production from the Koonenberry licenses. As a
      result of this transaction, all of EMX&#146;s interests in the Koonenberry
      Project have been converted to retained royalty interests. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On December 4, 2017 the Company announced the execution
      of an option agreement (the "Sienna Agreement") for the Sl&#228;ttberg project
      (the "Sl&#228;ttberg Project") with Sienna Resources Inc. (&#147;Sienna&#148;) (TSX
      Venture: SIE). The Sienna Agreement provides EMX with immediate share
      equity in Sienna, and upon Sienna's earn-in through work commitments, additional share equity
and a 3% NSR royalty on the Sl&#228;ttberg Project. The Sl&#228;ttberg Project hosts
nickel-copper-cobalt enriched massive sulfide mineralization and is located
approximately 25 kilometers northwest of Falun, Sweden.
</P></TD></TR></TABLE>
<P align=right>27 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_30></A>
<P style="MARGIN-LEFT: 5%" align=justify>Pursuant to the Sienna Agreement,
Sienna can earn 100% interest in the Sl&#228;ttberg Project by the issuance of shares
to EMX and performance of work during the one-year option period, as described
below:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>On signing the agreement, Sienna issued to EMX 3 million
      common shares of Sienna stock. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>As a condition to the exercise of the option, Sienna must
      undertake work commitments of at least $500,000 on the Project, including
      drilling of at least 750 meters. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>Upon exercise of the option, Sienna will issue to EMX an
      additional 3 million shares of Sienna stock, and EMX will receive a 3% NSR
      royalty on the properties comprising the Project. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>Within six years of the execution of the agreement,
      Sienna may purchase 0.5% of the NSR royalty for $1,500,000, leaving EMX
      with a 2.5% NSR royalty. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>After exercise of the option, Sienna will use
      commercially reasonable efforts to raise $3,000,000 for development of the
      project and other activities. Once Sienna has raised that amount, Sienna
      will issue an additional 4 million shares to EMX. Thereafter, EMX will
      have the right to participate pro-rata in future financings at its own
      cost to maintain its interest in Sienna. </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On December 18, 2017 the Company announced the execution
      of an option agreement (the "Antofagasta Agreement") through its wholly
      owned subsidiary BCE, for the Greenwood Peak copper porphyry project (the
      "Greenwood Peak Project") with a wholly owned subsidiary of Antofagasta
      plc (&#147;Antofagasta&#148;). The Greenwood Peak Project, located approximately 175
      kilometers northwest of Phoenix, Arizona, contains a copper porphyry
      target concealed beneath younger gravels and basin fill sediments.
  </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Antofagasta Agreement, Antofagasta can
      earn 100% interest in the Greenwood Peak Project by a) Reimbursing BCE&#146;s
      acquisition costs and making annual option payments, together totaling
      US$630,000; and b) Completing US$4,500,000 in work expenditures within the
      five year option period. BCE will be the operator of the Project for
      Antofagasta. Upon exercise of the option EMX will retain a 2% NSR royalty
      on the Project, which is not capped and not subject to buy-down. After
      exercise of the option, AAR payments are due starting at US$100,000 on the
      first anniversary of the exercise of the option, and will increase to
      US$175,000 upon completion of a scoping study for the Project. Antofagasta
      may make a one-time payment of US$4,000,000 to extinguish the obligation
      to make AAR payments after completion of the scoping study. All AAR
      payments are recoupable against royalty payments owed to EMX. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>Antofagasta will also make project milestone payments
      consisting of: </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left>- </TD>
    <TD align=left width="85%" >US$500,000 upon completion of a
      scoping study; </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left>- </TD>
    <TD align=left width="85%" >US$1,000,000 upon completion of a
      pre-feasibility study; and </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left>- </TD>
    <TD align=left width="85%" >US$2,000,000 upon completion of a
      feasibility study. </TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>The feasibility milestone payment is
recoupable against royalty payments owed to EMX.</P>
<P align=justify><I><U>Subsequent to Year Ended 2017</U></I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>&#149;On January 16, 2018 EMX announced that the execution of
      a definitive agreement (the "Boreal Agreement") for the sale of the Modum
      cobalt project (the "Modum Project") in Norway to Boreal Metals Corp.
      (&#147;Boreal&#148;) (TSX Venture: BMX). The agreement provides EMX with additional
      share equity in Boreal, a 3% NSR royalty on the project, and advance
      annual royalty payments. The Modum Project is located in southern Norway&#146;s
      Modum mining district, ~75 kilometers west of Oslo. The project partially
      surrounds the historic Skuterud mine property, which was Europe&#146;s
      principal producer of cobalt from the late eighteenth through nineteenth
      centuries. </P></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Boreal Agreement, Boreal can acquire 100%
      interest in the Modum Project according to the following terms:
  </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >
      <P align=justify>- </P></TD>
    <TD align=left width="85%" >
      <P align=justify>At closing, Boreal will issue to EMX 1,324,181 common
      shares of Boreal that will bring EMX&#146;s share of equity ownership in Boreal
      to 19.9%. EMX will have the right to participate pro-rata in future
      financings at its own cost to maintain its 19.9% interest in Boreal.
    </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >At closing, EMX will transfer its
      Modum exploration licenses to Boreal. </TD></TR></TABLE>
<P align=right>28 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will retain a 3% NSR royalty on the Project, of which
      1% may be purchased by Boreal on or before the fifth anniversary of the
      closing date in 0.5% increments for a total of US $2,500,000 in cash and
      common shares of Boreal stock. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will receive AAR payments, with an initial US $20,000
      payment, commencing on the second anniversary of the closing, with each
      subsequent AAR payment increasing by US $5,000 per year until reaching US
      $60,000 per year. Once reaching US $60,000, AAR payments will be adjusted
      each year according to the Consumer Price Index (as published by the U.S.
      Department of Labor, Bureau of Labor Statistics).
</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On February 5, 2018, EMX received a payment of US$665,525
      as the cash equivalent to the third 500 ounce gold bullion payment from
      &#199;iftay, as part of the payment schedule for the Akarca gold-silver project
      in western Turkey. The Akarca Property was transferred to &#199;iftay in
      August, 2016 for a combination of cash, future payment streams denominated
      in gold bullion, and a royalty interest. Receipt of this third payment
      leaves a pre-production total of 5,500 ounces of gold (or the cash
      equivalent) to be paid to EMX. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On February 8, 2018 the Company announced the execution
      of an option agreement (the "Kennecott Agreement"), through its wholly
      owned subsidiary BCE, for the Buckhorn Creek copper porphyry project (the
      "Buckhorn Creek Project") with Kennecott. The Kennecott Agreement provides
      for work commitments as well as cash payments to EMX during Kennecott's
      earn-in period, and upon earn-in, a 2% NSR royalty interest in addition to
      pre-production and milestone payments to EMX's benefit. The Buckhorn Creek
      Project is located in north-central Arizona, approximately 70 kilometers
      north of Phoenix, and lies in the greater Castle Creek Mining District.
      </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Kennecott Agreement, Kennecott can earn
      100% interest in the Buckhorn Creek Project by: (a) making a US $30,000
      payment upon execution of the agreement and making subsequent option
      payments, together totaling US $550,000, and (b) completing US $4,500,000
      in exploration expenditures before the fifth anniversary of the agreement.
      Upon exercise of the option EMX will retain a 2% NSR royalty on the
      project which is not capped or purchasable. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>After exercise of the option, annual advance minimum
      royalty (&#147;AMR&#148;) payments are due starting at US $100,000 and increasing to
      US $150,000 upon completion of an Order of Magnitude Study ("OMS") or PEA.
      Kennecott may make a one-time payment of US $3,500,000 to extinguish the
      obligation to make AMR payments. All AMR payments cease upon commencement
      of production from the project. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >
      <P align=justify>In addition, Kennecott will make milestone payments
      consisting of: </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >US $500,000 upon completion of an
      OMS or PEA, </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >US $1,000,000 upon completion of
      a Prefeasibility Study, and </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >US $2,000,000 upon completion of
      a Feasibility Study. The Feasibility Study payment will be credited
      against future royalty payments. </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%" >
      <P align=justify>On February 9, 2018 the Company announced the execution
      of a purchase agreement (the "BEMC Agreement") for the Guldgruvan cobalt
      project (the "Guldgruvan Project") in Sweden with Boreal Energy Metals
      Corporation (&#147;BEMC&#148;), a newly created and wholly owned subsidiary of
      Boreal Metals Corporation (&#147;Boreal&#148;) (TSX Venture: BMX). The BEMC
      Agreement provides EMX with immediate share equity in BEMC, a 3% NSR
      royalty on the Project, and annual advance royalty payments. The
      Guldgruvan Project is located in Sweden&#146;s Los mining district, a
      significant historic producer of cobalt and nickel. The Los District was a
      key source of cobalt locally used for pigments in the 17<SUP>th </SUP>and
      18<SUP>th </SUP>centuries, and is the discovery locality of nickel.
  </P></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="95%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="95%" >
      <P align=justify>Pursuant to the Agreement, the Guldgruvan nr 101 license
      will be transferred to BEMC in exchange for the issuance of shares of
      BEMC, a royalty interest on the Guldgruvan Project, and other
      considerations according to the terms described below:
</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>At closing, BEMC will issue to EMX that number of common
      shares of BEMC that represents a 5.9% equity ownership in BEMC. BEMC will
      have the continuing obligation to issue additional shares of BEMC to EMX
      to maintain its 5.9% interest, at no additional cost to EMX, until BEMC
      has raised CDN $3,000,000 in equity. Thereafter, EMX will have the right
      to participate pro-rata in future financings at its own cost to maintain
      its 5.9% interest in BEMC. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will receive an uncapped 3% NSR royalty on the
      project. Within five years of the closing date, BEMC has the right to buy
      down up to 1% of the royalty owed to EMX (leaving EMX with a 2% NSR) by
      paying EMX US $2,500,000 in cash and shares of BEMC. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will receive AAR payments of US $20,000 commencing on
      the second anniversary of the closing, with each AAR payment increasing by
      US $5,000 per year until reaching US $60,000 per year. Once reaching US $60,000, AAR payments will be adjusted each year
      according to the Consumer Price Index (as published by the U.S. Department
      of Labor, Bureau of Labor Statistics).
      </P></TD></TR></TABLE>
<P align=right>29 </P>
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<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >-</TD>
    <TD align=left width="85%" >
      <P align=justify>EMX will also be reimbursed for its acquisition costs and
      previous expenditures on the project. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >- </TD>
    <TD align=left width="85%" >
      <P align=justify>The issuance of BEMC shares to EMX, as set forth in the
      Agreement, is subject to TSX Venture Exchange approval.
</P></TD></TR></TABLE>
<P align=justify><B><U>4.B. BUSINESS OVERVIEW</U></B><B> </B></P>
<P align=justify>EMX is principally in the business of exploring for, and
generating royalties from minerals properties, as well as identifying mineral
property royalty opportunities for purchase. Under the royalty generation
business model, the Company acquires and advances early-stage mineral
exploration projects and then sells the projects to, and thereby forms
relationships with, other parties in consideration of a retained royalty
interest, as well as annual advance royalty and other pre-production cash or
share payments and work commitments. Through its various agreements, EMX may
also provide technical and commercial assistance to such companies as the
projects advance. By selling interests in its projects to third parties for a
royalty interest, EMX:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>reduces its exposure to the costs and risks associated
      with mineral exploration and project development,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>receives near term cash flow from scheduled
      pre-production and milestone based bonus payments,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>maintains the opportunity to participate in exploration
      upside, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>develops a pipeline for potential production royalty
      payments and associated greenfields discoveries in the
  future.</P></TD></TR></TABLE>
<P align=justify>This approach helps preserve the Company&#146;s treasury, which can
be utilized for further project acquisitions and other business initiatives.
</P>
<P align=justify>The Company&#146;s royalty and royalty generation exploration
portfolio consists of properties in North America, Turkey, Europe, Haiti,
Australia, and New Zealand. EMX started receiving royalty income as of August
17, 2012 when it acquired Bullion Monarch Mining, Inc. (&#147;Bullion Monarch&#148; or
&#147;BULM&#148;).</P>
<P align=justify>Strategic investments are an important complement to the
Company&#146;s royalty acquisition and royalty generation initiatives. These
investments are made in under-valued exploration companies identified by the
Company. EMX helps to develop the value of these assets, with exit strategies
that can include royalty positions or equity sales. </P>
<P align=justify><B>Government Regulation and Environmental Protection </B></P>
<P align=justify>The Company&#146;s current exploration activities are conducted in
North America, Turkey, Europe, Australia and New Zealand. Such activities are
affected in varying degrees by political stability and government regulations
relating to foreign investment and the mining industry. Changes in these
regulations or shifts in political attitudes are beyond EMX&#146;s control and may
adversely affect EMX&#146;s business. Operations may be affected in varying degrees
by government regulations with respect to restrictions on production, income
taxes, expropriation of property, repatriation of funds, environmental
legislation and mine safety.</P>
<P align=justify>The mining industry is also subject to extensive and varying
environmental regulations in each of the jurisdictions in which EMX operates.
Environmental regulations establish standards respecting health, safety and
environmental matters and place restrictions on toxins resulting from mining
activities. These regulations can have an impact on the selection of mining
projects and facilities, potentially resulting in increased capital expenditures
by EMX or its joint venture partners. In addition, environmental legislation may
require certain projects to be abandoned and sites reclaimed to the satisfaction
of local authorities. EMX is committed to complying with environmental and
operation legislation wherever it operates. </P>
<P align=justify>The Company&#146;s current or future operations, including
exploration and development activities on its properties, require permits from
various governmental authorities, and such operations are, and will be, governed
by laws and regulations governing exploration, development, taxes, occupational
health, waste disposal, toxic substances, land use, environmental protection and
other matters. Compliance with these requirements may prove to be difficult and
expensive. While EMX has properties in numerous jurisdictions, its most advanced
projects are located in Turkey and the United States. </P>
<P align=right>30 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_33></A>
<P align=justify><I>Governmental Regulation in Turkey</I> </P>
<P align=justify><U>Mining Regulation</U> </P>
<P align=justify>The legal mining regime in Turkey is principally governed by
the Turkish Mining Law No. 3213, as amended most recently on February 4,
2015<SUP>1</SUP> for the purpose of, among other things, avoiding labour
accidents, and restating the mining license fees, governmental royalties, and
sanctions in order to make it more compliant with the most recent global
conditions. The Turkish Mining Activities Implementation Communiqu&#233; was adopted
and amended during the amendment of Turkish Mining Law on June 10, 2010;
however, this Implementation Communiqu&#233; has not been amended yet in accordance
with the latest amendments of Turkish Mining Law dated February 4, 2015. Turkey
is still awaiting the adoption of the amendment of Implementation Communiqu&#233; to
comply with latest amended Turkish Mining Law. The mining sector is regulated
under the umbrella of the General Directorate of Mining Affairs of the Republic
of Turkey, a unit of the Ministry of Energy and Natural Resources of the
Republic of Turkey. Mining rights and minerals are exclusively owned by the
Turkish state, and the ownership of minerals in Turkey is not subject to the
ownership of the relevant land. The state, under the Turkish Mining Law and
secondary mining legislation, delegates its rights to explore and operate to
Turkish individuals or legal entities established under Turkish law by issuing
licenses for a determined period of time in return for the payment of a royalty.
There is no distinction between the mining rights that may be acquired by local
investors and those that may be acquired by foreign investors so long as foreign
investors establish a company in Turkey under Turkish law. </P>
<P align=justify>The General Directorate of Mining Affairs, is the authorized
body to regulate mining activities and to issue mining licenses in Turkey. In
addition, local administrative bodies of Turkey also have a certain level of
authority relating to licenses and the regulation of mining facilities.
Transferring the mining license is subject to the prior approval of the Ministry
of Energy and Natural Resources of the Republic of Turkey. </P>
<P align=justify>The Turkish Mining Law classifies underground resources into
six different groups, and the licensing procedure for each group differs
slightly. Briefly, the groups are as follows: (I) sand and gravel, (II) marble
and other similar decorative stones, (III) mineral salts from seas, lakes and
fresh waters, (IV) energy, metal and industrial minerals, including gold,
silver, platinum, copper, lead, zinc, aluminum, uranium, thorium and radioactive
minerals, (V) precious minerals such as gemstones, and (VI) a group of minerals
which is not stated amongst these groups shall be identified by the Ministry of
Energy and Natural Resources of Republic of Turkey under secondary legislation
of Turkey. </P>
<P align=justify>There are two types of licenses granted for the exploration and
operation of mines and one type of operation permit under the Turkish Mining
Law, as follows: Group II (b), Group III, Group IV minerals at the first stage
require general exploration licenses. Group V minerals require exploration
certificates. Group I and Group II (a) and (c) are directly granted with
operation licenses.</P>
<UL style="TEXT-ALIGN: justify">
  <LI>Exploration License. Enables its holder to carry out general exploration
  activities (i.e., all mining activities other than those carried out for
  production) in a specific area issued for a period of two years for Group IV
  minerals including gold mining and one year for the other groups. If the
  license holder owning a group of minerals satisfies its obligations, the
  license holder owning Group IV minerals will have a right to an additional
  four years of detailed exploration; for Group II (b), Group III and Group V
  mines, the relevant license holder is obliged to meet the operation license&#146;s
  requirements until the end of its general exploration period.
  <LI>Operation License. Enables its holder to carry out operational activities
  within the same area as stated in the exploration license for the proved,
  potential and feasible mine reserve area. The term of the operation license
  for Group I (a) minerals are five years. The other groups of minerals are at
  least ten years depending on the specific project. The terms of the operation
  licenses may generally be extended upon the application of the license holder
  with a new operation project provided that such extension request is accepted
  by the General Directorate of Mining Affairs of Turkey. The term of the
  operation license for Group I (a) minerals cannot exceed thirty years, for
  Group II minerals cannot exceed forty years, and for other groups of minerals
  cannot exceed fifty years. Extension requests for more than thirty years for
  Group I (a) minerals and forty years for Group II minerals are made directly
  to the Ministry of Energy and Natural Resources of the Republic of Turkey and
  for more than fifty years for other groups of minerals are made directly to
  Ministry of Council of Republic of Turkey.
  <LI>Operation Permit. Enables its holder to operate a specific mine as
  specified in the operation license and granted only for the proved mine
  reserves area that is determined during the prospecting period. The license
  holder, within three years following the issuance of the operation license
  shall obtain the required approvals, permits such as environmental impact assessment
decision, ownership decision, land usage decision, workplace opening and
operation permit and other permits stated under clause 7 of the Mining Law and
then, accordingly, the license holder is granted the operation permit by the
General Directorate of Mining Affairs of Turkey. The operation permit is
required to be obtained until the end of the term of the operation license.</LI></UL>
<P
align=justify><SUP>______________________________________________________<BR>1</SUP>
Turkish Mining Law No.3213 was first adopted on June 4, 1985 with several
amendments on December 24, 1986, July 30, 1999, June 15, 2001, May 26 2004, June
3, 2007, June 10, 2010 and with the latest amendment on February 4, 2015. </P>
<P align=right>31 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_34></A>
<P align=justify>The Turkish Mining Law provides for different royalty
percentages for different groups of mines. The royalty percentages for Group IV
minerals, including gold, silver, platinum, lead copper, zinc, aluminum and
uranium oxide minerals are in the below chart.</P>
<P align=center>The Royalty Percentages For Group IV Minerals under Turkish
Mining Law</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center><B>Royalty(%)</B> </TD>
    <TD align=left width="10%"><B>Gold</B> <BR><B>$/oz</B> </TD>
    <TD align=left width="10%"><B>Silver</B> <BR><B>$/oz</B> </TD>
    <TD align=left width="10%"><B>Platinum</B> <BR><B>$/oz</B> </TD>
    <TD align=left width="10%"><B>Copper</B> <BR>      <B>$/oz</B> </TD>
    <TD align=left width="10%"><B>Lead</B> <BR><B>$/oz</B> </TD>
    <TD align=left width="10%"><B>Zinc</B> <BR><B>$/oz</B> </TD>
    <TD align=left width="10%"><B>Chrome</B> <BR><B>$/T</B> </TD>
    <TD align=left width="10%"><B>Aluminum</B> <BR><B>$/T</B> </TD>
    <TD align=left width="10%"><B>Uranium</B> <BR><B>Oxide</B> <BR><B>$/lb</B>
    </TD></TR>
  <TR vAlign=top>
    <TD align=center>2 </TD>
    <TD align=left width="10%">&lt;800 </TD>
    <TD align=left width="10%">&lt;10 </TD>
    <TD align=left width="10%">&lt;500 </TD>
    <TD align=left width="10%">&lt;5000 </TD>
    <TD align=left width="10%">&lt;1000 </TD>
    <TD align=left width="10%">&lt;1000 </TD>
    <TD align=left width="10%">&lt;100 </TD>
    <TD align=left width="10%">&lt;1000 </TD>
    <TD align=left width="10%">&lt;20 </TD></TR>
  <TR vAlign=top>
    <TD align=center>4 </TD>
    <TD align=left width="10%">801-1250 </TD>
    <TD align=left width="10%">11-20 </TD>
    <TD align=left width="10%">501-1000 </TD>
    <TD align=left width="10%">5001- 7500 </TD>
    <TD align=left width="10%">1001- 2000 </TD>
    <TD align=left width="10%">1001- 2500 </TD>
    <TD align=left width="10%">101-300 </TD>
    <TD align=left width="10%">1001-2000 </TD>
    <TD align=left width="10%">20-40 </TD></TR>
  <TR vAlign=top>
    <TD align=center>6 </TD>
    <TD align=left width="10%">1251-1500 </TD>
    <TD align=left width="10%">21-25 </TD>
    <TD align=left width="10%">1001- 1250 </TD>
    <TD align=left width="10%">7501- 8000 </TD>
    <TD align=left width="10%">2001- 2250 </TD>
    <TD align=left width="10%">2501- 3000 </TD>
    <TD align=left width="10%">301-500 </TD>
    <TD align=left width="10%">2001-2350 </TD>
    <TD align=left width="10%">41-80 </TD></TR>
  <TR vAlign=top>
    <TD align=center>8 </TD>
    <TD align=left width="10%">1501-1750 </TD>
    <TD align=left width="10%">25-30 </TD>
    <TD align=left width="10%">1251- 1500 </TD>
    <TD align=left width="10%">8001- 8500 </TD>
    <TD align=left width="10%">2251- 2500 </TD>
    <TD align=left width="10%">3001- 3500 </TD>
    <TD align=left width="10%">501-700 </TD>
    <TD align=left width="10%">2351-2600 </TD>
    <TD align=left width="10%">81-110 </TD></TR>
  <TR vAlign=top>
    <TD align=center>10 </TD>
    <TD align=left width="10%">1751-2000 </TD>
    <TD align=left width="10%">31-35 </TD>
    <TD align=left width="10%">1501- 1750 </TD>
    <TD align=left width="10%">8501- 9000 </TD>
    <TD align=left width="10%">2501- 3000 </TD>
    <TD align=left width="10%">3501- 4000 </TD>
    <TD align=left width="10%">701-900 </TD>
    <TD align=left width="10%">2601-2850 </TD>
    <TD align=left width="10%">111-140 </TD></TR>
  <TR vAlign=top>
    <TD align=center>14 </TD>
    <TD align=left width="10%">2001-2250 </TD>
    <TD align=left width="10%">36-40 </TD>
    <TD align=left width="10%">1751- 2000 </TD>
    <TD align=left width="10%">9001- 9500 </TD>
    <TD align=left width="10%">3001- 3500 </TD>
    <TD align=left width="10%">4001- 4500 </TD>
    <TD align=left width="10%">901-1100 </TD>
    <TD align=left width="10%">2851-3100 </TD>
    <TD align=left width="10%">141-170 </TD></TR>
  <TR vAlign=top>
    <TD align=center>16 </TD>
    <TD align=left width="10%">&gt;2251 </TD>
    <TD align=left width="10%">&gt;41 </TD>
    <TD align=left width="10%">&gt;2001 </TD>
    <TD align=left width="10%">&gt;9501 </TD>
    <TD align=left width="10%">&gt;3501 </TD>
    <TD align=left width="10%">&gt;4501 </TD>
    <TD align=left width="10%">&gt;1101 </TD>
    <TD align=left width="10%">&gt;3101 </TD>
    <TD align=left width="10%">&gt;171 </TD></TR></TABLE></DIV>
<P align=justify><U>Environmental Regulation</U> </P>
<P align=justify>In Turkey, where EMX&#146;s most advanced projects are located, both
the level of environmental regulation and its enforcement have become more
stringent in recent years. Mining operations are subject to environmental laws
and regulations promulgated by the Turkish Ministry of Environment and Urban
Planning, the Ministry of Forestry and Water Works and regional and local
authorities. The Turkish Mining Law amended in 2015 has brought more detailed
provisions to the mining activities for the compliance of environmental rules.
The Regulation on Environmental Impact Assessments, for example, requires any
entity that is involved in activities that could have an environmental impact to
prepare a Report of Environmental Impact Assessment or a Project Information
File. No approvals, permits, incentives, or construction and occupancy licenses
may be granted, nor any investments made, nor any tenders awarded for these
projects unless and until the Turkish Ministry of Environment and Urban Planning
issues a positive assessment of the environmental impact of the subject
activities. The Turkish environmental laws and regulations also require certain
businesses to comply with ongoing requirements to reduce the environmental
impact of certain operations and activities, which also include mining
activities. In addition, in Turkey, the issue of allocation of environmentally
sensitive areas such as forest areas, hunting areas, special protection areas,
national parks and agriculture areas for the granting of licenses for activities
to be carried out in such areas is also regulated and is under the supervision
of the Turkish Ministry of Forestry and Water Works. </P>
<P align=justify>Under current Turkish environmental laws and regulations,
regulatory authorities may suspend or terminate non-compliant operations, levy
monetary penalties and require non-compliant entities to bear the cost of
related remediation programs. For example, under Turkish environmental and
criminal laws, non-compliant operations may be subject to private action and
liable for damages arising from their activities, as well as subject to criminal
penalties (such as imprisonment and monetary fines) for deliberately providing
regulatory authorities with false or misleading information regarding regulated
activities or otherwise failing to comply with certain regulations. In addition,
a property owner may be held liable for the cost of the removal or remediation
of hazardous or toxic wastes discovered on its property, the cost of which could
be substantial, where generally such liability attaches regardless of whether
the owner knew of, or was responsible for, the presence of such hazardous or
toxic substances. </P>
<P align=justify>Environmental laws, as they may be amended over time, can
impose restrictions on the manner of use of properties, and compliance with
these restrictions may require substantial expenditures. Environmental laws and
regulations impose sanctions for non-compliance and may be enforced by
governmental agencies. Third parties also may seek recovery from companies for
personal injury or property damage associated with exposure to the release of
hazardous substances. </P>
<P align=right>32 </P>
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<A name=page_35></A>
<P align=justify><U>Commercial Regulation</U></P>
<P align=justify>The Turkish Commercial Code numbered 6762, which was in effect
as of 1957, has been amended substantially with the new Turkish Commercial Code
numbered 6102 (the &#147;New Turkish Commercial Code&#148;). The New Turkish Commercial
Code came into force on July 1, 2012. The New Turkish Commercial Code is
intended to provide for institutionalization, increased competitive power and
the establishment of increased public confidence, corporate governance and
transparency, The code permits joint stock companies and limited liability
companies to be established with only one shareholder and with one board member.
</P>
<P align=justify>Some of the key features of the New Turkish Code include the
following: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>Companies are generally obliged to have a website online and to allocate a
  part of this website to publish certain issues, documents, financial
  statements and resolutions whether publicly traded or not.
  <LI>For joint stock companies, it is sufficient for the board of directors to
  consist of solely one member. A legal entity can also be a board member;
  however in this case, a natural person must be designated to represent the
  legal entity. There is no restriction and mandatory requirement for the board
  members to reside in Turkey and to be a Turkish citizen.
  <LI>Board members of a joint stock company are no longer required to
  shareholders in the company.
  <LI>The financial tables of a joint stock company are to be prepared in
  accordance with the financial reporting standards determined by the Turkish
  Accounting Standards Board. These standards are expected to be amended to
  comply with the International Financial Reporting Standards (&#147;IFRS&#148;).
  <LI>The New Turkish Commercial Code enables the board members to attend and to
  vote in meetings via transfer of image and voice according to the provisions
  of the articles of association of the company. The provisions regarding the
  meeting and decision quorum of the board of directors shall also be applicable
  if the meetings of the board of directors are held in an electronic
  environment.
  <LI>The New Turkish Commercial Code stipulates the rights of shareholders to
  attend, give proposals, declare opinions and vote at the general assembly of
  joint stock company via electronic means.
  <LI>The management and representation of a limited company may be performed by
  one or more managers. For a limited liability company, it is sufficient to
  have at least one manager. If there is more than one manager then there is a
  board of managers. In this situation, one of the managers is appointed by
  general assembly as a chairman of the board of managers. The President of
  board of managers has an authority to make all statements and declarations on
  behalf of the company. In any case, at least one shareholder must be appointed
  as a manager who has a right to manage and represent the limited liability
  company.
  <LI>The limited liability company must keep a share ledger. The share ledger
  shall reflect the following; names/titles and addresses of the shareholders,
  number of shares held by each shareholder, share transfer details, nominal
  value of shares, class of shares, encumbrances over the shares and the
  names/titles and addresses of beneficiaries of such encumbrances created over
  the shares.
  <LI>The limited liability company is obliged to keep the commercial books
  indicating the commercial transactions and asset structure of the company. The
  LLC shall observe and apply Turkish Accounting Standards as announced by the
  Turkish Accounting Standards Board, including the conceptual framework of
  accounting principles and interpretations while keeping its commercial books.
  An important change however, is that the compulsory accounting standards will
  adopt IFRS. The opening and closing of the books must be certified by a notary
  public.
  <LI>The manager(s) of a limited liability company must prepare and submit to
  the attention of the general assembly the financial charts, appendices and the
  activity report of the company for the preceding accounting period. This must
  be done in accordance with the Turkish Accounting Standards and within the
  first three months of the relevant accounting period (fiscal year) following
  the balance sheet date. The relevant Turkish Accounting Standards have been
  applicable from January 1, 2013. </LI></UL>
<P align=justify>EMX cannot predict the outcome of each effect of the New
Turkish Code, and compliance with these requirements may prove to be difficult
and expensive. </P>
<P align=right>33 </P>
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<A name=page_36></A>
<P align=justify><U>Repatriation of Earnings</U> </P>
<P align=justify>Currently, there are no restrictions on the repatriation of
earnings or capital to foreign entities from Turkey, where the Company&#146;s most
advanced projects are located. However, there can be no assurance that any such
restrictions on repatriation of earnings or capital from Turkey or any other
country where we may invest will not be imposed in the future.</P>
<P align=justify><I>Governmental Regulation in the United States</I> </P>
<P align=justify><U>Mining Regulation</U> </P>
<P align=justify>Mining activities in the United States are subject to numerous
federal, state and local laws and regulations. At the federal level, mines are
subject to inspection and regulation by the United States Mine Safety and Health
Administration (&#147;MSHA&#148;) under provisions of the Federal Mine Safety and Health
Act of 1977. The Occupation Safety and Health Administration also has
jurisdiction over certain safety and health standards not covered by MSHA.
Mining operations and all proposed exploration and development require a variety
of permits. In addition, any mining operations occurring on federal property are
subject to regulation and inspection by the United States Bureau of Land
Management (&#147;BLM&#148;). The Company&#146;s current projects are also subject to state and
local laws and regulations in Arizona, Nevada, Utah and Wyoming. </P>
<P align=justify><U>Environmental Regulation</U> </P>
<P align=justify>The Company&#146;s exploration, mining and processing operations are
subject to various federal, state and local laws and regulations governing
prospecting, exploration, development, production, labor standards, occupational
health, mine safety, control of toxic substances, and other matters involving
environmental protection and employment. United States environmental protection
laws address the maintenance of air and water quality standards, the
preservation of threatened and endangered species of wildlife and vegetation,
the preservation of certain archaeological sites, reclamation, and limitations
on the generation, transportation, storage and disposal of solid and hazardous
wastes, among other things. </P>
<P align=justify>Legislation and implementation of regulations adopted or
proposed by the United States Environmental Protection Agency, the BLM and by
comparable agencies in various states directly and indirectly affect the mining
industry in the United States. These laws and regulations address the
environmental impact of mining and mineral processing, including potential
contamination of soil and water from tailings, discharges and other wastes
generated by mining process. In particular, legislation such as the Clean Water
Act, the Clean Air Act, the Federal Resource Conservation and Recovery Act and
the National Environmental Policy Act require analysis and/or impose effluent
standards, new source performance standards, air quality standards and other
design or operational requirements for various components of mining and mineral
processing. Mining projects also are subject to regulations under the
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
which regulates and establishes liability for the release of hazardous
substances. In addition, statutes may impose liability on mine developers for
remediation of waste they have created. </P>
<P align=justify>Our operations are also subject to laws and regulations
governing protection of endangered and other specified species. In May 2015, the
U.S. Department of the Interior released a plan to protect the greater sage
grouse, a species whose natural habitat is found across much of the western
United States, including Nevada. The U.S. Department of the Interior&#146;s plan is
intended to guide conservation efforts on approximately 70 million acres of
national public lands. No assurances can be made that restrictions relating to
conservation will not have an adverse impact on our operations in impacted
areas. </P>
<P align=justify><I>Specialized Skill and Knowledge</I></P>
<P align=justify>All aspects of EMX&#146;s business require specialized skills and
knowledge. Such skills and knowledge include the areas of geology, finance,
accounting and law.</P>
<P align=justify><I>Competitive Conditions </I></P>
<P align=justify>Competition in the mineral exploration industry is intense. EMX
competes with other companies, many of which have greater financial resources
and technical facilities, for the acquisition and exploration of mineral
interests, as well as for the recruitment and retention of qualified employees
and consultants. </P>
<P align=right>34 </P>
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<A name=page_37></A>
<P align=justify><I>Raw Materials (Components) </I></P>
<P align=justify>Other than water and electrical or mechanical power &#150; all of
which are readily available on or near its properties &#150; EMX does not require any
raw materials with which to carry out its business. </P>
<P align=justify><I>Intangible Property </I></P>
<P align=justify>EMX does not have any need for nor does it use any brand names,
circulation lists, patents, copyrights, trademarks, franchises, licenses,
software (other than commercially available software), subscription lists or
other intellectual property in its business. </P>
<P align=justify><I>Business Cycle &amp; Seasonality </I></P>
<P align=justify>The Company&#146;s royalty and prospect generator business model is
cyclical and is impacted by commodity prices and cycles; however, its business
is not seasonal.</P>
<P align=justify><I>Economic Dependence</I></P>
<P align=justify>Other than the contracts disclosed in this Form 20-F, the
Company&#146;s business is not substantially dependent on any contract such as a
contract to sell the major part of its products or services or to purchase the
major part of its requirements for goods, services or raw materials, or on any
franchise or license or other agreement to use a patent, formula, trade secret,
process or trade name upon which its business depends.</P>
<P align=justify><I>Renegotiation or Termination of Contracts </I></P>
<P align=justify>It is not expected that the Company&#146;s business will be affected
in the current financial year by the renegotiation or termination of contracts
or sub-contracts. </P>
<P align=justify><I>Environmental Protection </I></P>
<P align=justify>All phases of the Company&#146;s exploration are subject to
environmental regulation in the various jurisdictions in which it operates.</P>
<P align=justify>Environmental legislation is evolving in a manner which
requires stricter standards and enforcement, increased fines and penalties for
non-compliance, more stringent environmental assessments of proposed projects
and a heightened degree of responsibility for companies and their officers,
directors and employees. While manageable, EMX expects this evolution (which
affects most mineral exploration companies) might result in increased costs.</P>
<P align=justify><I>Employees </I></P>
<P align=justify>At December 31, 2017, EMX had 39 employees and consultants
working at various locations throughout the world.</P>
<P align=justify><I>Foreign Operations </I></P>
<P align=justify>Many of the Company&#146;s properties are located outside of North
America and many are located in areas traditionally considered to be risky from
a political or economic perspective.</P>
<P align=justify><I>Bankruptcy Reorganizations </I></P>
<P align=justify>There have not been any voluntary or involuntary bankruptcy,
receivership or similar proceedings against EMX within the three most recently
completed financial years or the current financial year.</P>
<P align=justify><I>Material Reorganizations </I></P>
<P align=justify>There has not been any material reorganization of EMX or its
subsidiaries within the three most recently completed financial years or the
current financial year. </P>
<P align=right>35 </P>
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<A name=page_38></A>
<P align=justify><I>Social or Environmental Policies</I></P>
<P align=justify>EMX has implemented various social policies that are
fundamental to its operations, such as policies regarding its relationship with
the communities where the Company operates.</P>
<P align=justify>1.&nbsp;&nbsp; &nbsp;Environmental Policy </P>
<P align=justify>The Company believes that good environmental management at
every project it manages, whether in the exploration phase, feasibility stage,
project construction or mine site operation, requires proactive health and
safety procedures, transparent interaction with local communities and
implementation of prudent expenditures and business performance standards that
constitutes the foundation for successful exploration and subsequent development
if the results warrant it. </P>
<P align=justify>EMX will develop and implement appropriate standard operating
procedures for different stages of its ground technical surveys, prospecting and
evaluation and development work which procedures will be designed to meet all
applicable environmental requirements and best environmental practices in the
mineral exploration industry. </P>
<P align=justify>2.&nbsp;&nbsp;&nbsp; Community Relations, Communication and
Notification Policy </P>
<P align=justify>Proactive interaction with the stakeholders on whom the
Company&#146;s exploration and development programs may impact is considered an
important part of the long-term investment that the Company is planning in its
exploration programs in North America, Turkey, Europe, Australia, and the
Asia-Pacific region. </P>
<P align=justify>EMX recognizes that from the inception of exploration
activities or a new field work program, and as the exploration project
progresses towards development, it will be important to:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&#9830; </TD>
    <TD align=left width="95%" >
      <P align=justify>communicate and proactively engage with all local
      communities and other stakeholders that may be affected by its exploration
      programs; </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&#9830; </TD>
    <TD align=left width="95%" >
      <P align=justify>inform and obtain a consensus with the full range of
      stakeholders that may be impacted upon by exploration, evaluation and
      development; and </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&#9830; </TD>
    <TD align=left width="95%" >
      <P align=justify>identify any vulnerable or marginalized groups within the
      affected communities (e.g. women, elders or handicapped) and ensure they
      are also reached by above information disclosure and consultation
      activities. </P></TD></TR></TABLE>
<P align=justify>In these respects, EMX will work actively and transparently
with governmental authorities, other elected parties, nongovernmental
organizations, and the communities themselves to ensure that the communities are
aware of the activities of the Company, and that the impact and benefits of such
activities are a benefit to the communities. </P>
<P align=justify>When detailed or advanced exploration activities, including
drilling, evaluation and other such programs, are implemented, the Company will
endeavor to identify how the impacts of such work on communities can best be
managed, and how benefits can best be provided to communities through its
activities. This will be undertaken in consultation with the affected
communities.</P>
<P align=justify>3.&nbsp;&nbsp; &nbsp;Labour, Health and Safety Policy </P>
<P align=justify>The health and safety of its employees, contractors, affected
communities and any other role players that may participate and be affected by
the activities of EMX are crucial to the long term success of the Company.</P>
<P align=justify>The Company will establish and maintain a constructive
work-management relationship, promote the fair treatment, non-discrimination,
and equal opportunity of workers. </P>
<P align=justify>Every effort will be made through training, regular reviews and
briefings, and other procedures to ensure that best practice labor, health and
safety and good international industry practices are implemented and maintained
by EMX, including prompt and in-depth accident and incident investigation and
the implementation of the conclusions thereof. The Company will take measures to
prevent any child labor or forced labor.</P>
<P align=justify>The Company&#146;s aim is at all times to achieve zero lost-time
injuries and fatalities. </P>
<P align=justify>4.&nbsp;&nbsp;&nbsp; Development Stage Environmental and Social
Management Policy </P>
<P align=justify>EMX will communicate and consult with local communities and
stakeholders with a view to fostering mutual understanding and shared benefits
through the promotion and maintenance of open and constructive dialogue and
working relationships.</P>
<P align=right>36 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_39></A>
<P align=justify><U>United States vs. Foreign Sales/Assets</U> </P>
<P align=justify>At December 31, 2017, 2016, and 2015, the Company&#146;s assets were
located in North America, Turkey, Europe, Haiti, Australia and New Zealand. </P>
<P align=justify><B><U>4.C. Organization Structure</U></B></P>
<P align=justify>The following table sets out the name, jurisdiction of
incorporation and percentage ownership in each of the Company&#146;s significant
subsidiaries: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=left ><B>Name</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=left width="25%"><B>Place </B><B>of
      </B><B>Incorporation</B> </TD>
  <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid"
    align=right width="25%"><B>Ownership </B><B>Percentage</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Bullion Monarch Mining, Inc
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Utah, USA </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >EMX (USA) Services Corp. </TD>
    <TD align=left width="25%">Nevada, USA </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Bronco Creek Exploration Inc.
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Arizona, USA </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Eurasia Madencilik Ltd. Sirketi </TD>
    <TD align=left width="25%">Turkey </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Azur Madencilik Ltd. Sirketi
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Turkey </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Eurasian Minerals Cooperatief&nbsp; U.A. </TD>
    <TD align=left width="25%">Netherlands </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Eurasian Minerals Sweden AB
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Sweden </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Viad Royalties AB </TD>
    <TD align=left width="25%">Sweden </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left bgColor=#e6efff
    >Waikato Gold Limited </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="25%"
    bgColor=#e6efff>NewZealand </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="25%"
    bgColor=#e6efff>100% </TD></TR></TABLE>
<P align=justify><B><U>4.D. Property, Plant and Equipment</U></B> </P>
<P align=justify>The Company&#146;s executive offices are located in rented premises
of approximately 4,200 sq. ft., shared by seven other companies at 543 Granville
Street, Suite 501, Vancouver, British Columbia Canada V6C 1X8. The Company began
occupying these facilities on May 1, 2011.</P>
<P align=justify>The Company owns a house in Littleton, Colorado which serves as
the Company&#146;s office. </P>
<P align=justify>The Company&#146;s royalty, exploration, and strategic investment
portfolio mainly consists of properties in North America, Turkey, Europe, Haiti,
Australia, New Zealand, the Russian Federation, and Chile. </P>
<P align=center>
<IMG
src="form20fx39x1.jpg"
border=0 width="674" height="381"></P>
<P align=right>37 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_40></A>
<P align=justify>The terms &#147;measured resource&#148;, &#147;indicated resource&#148; and
&#147;inferred resource&#148; used in this report are Canadian geological and mining terms
as defined in accordance with National Instrument 43-101, Standards of
Disclosure for Mineral Projects of the Canadian Securities Administrators using
the guidelines set out in the Canadian Institute of Mining, Metallurgy and
Petroleum (the &#147;CIM&#148;) Standards on Mineral Resources and Mineral Reserves,
adopted by the CIM Council as may be amended from time to time by the CIM. We
advise U.S. investors that while such terms are recognized and permitted under
Canadian regulations, the SEC does not recognize them. U.S. investors are
cautioned not to assume that any part or all of the mineral deposits in the
measured and indicated categories will ever be converted into reserves. </P>
<P align=justify>An inferred resource is that part of a mineral resource for
which quantity and grade are estimated on the basis of limited geological
evidence and sampling. Geological evidence is sufficient to imply, but not
verify, geological and grade continuity. It is reasonably expected that the
majority of inferred resources could be upgraded to indicated resources with
continued exploration. Inferred resources must not be included in the economic
analysis, production schedule, or estimated mine life in publicly disclosed
Pre-Feasibility or Feasibility Studies, or in the Life of Mine plans and cash
flow models of developed mines. Inferred mineral resources can only be used in
economic studies as provided under NI 43-101. U.S. investors are cautioned not
to assume that any part or all of an inferred resource exists, or is
economically or legally mineable. </P>
<P align=justify>Disclosure of gold and silver resources expressed in ounces, or
copper, lead, and zinc resources expressed in pounds or tonnes in the mineral
resource categories in this document is in compliance with Canadian NI 43-101,
but does not meet the requirements of Industry Guide 7, Description of Property
by Corporations Engaged or to be Engaged in Significant Mining Operations, of
the SEC, which will accept only the disclosure of tonnage and grade estimates
for non-reserve mineralization. See &#147;Cautionary Note To United States Investors
Regarding Reserve And Resource Information&#148;. </P>
<P align=justify>EMX has been generating exploration projects for over fourteen
years. Even if the Company completes its programs on its exploration properties
and is successful in identifying mineral deposits, a substantial amount of
capital will still have to be spent on each deposit for further drilling and
engineering studies before management will know that the Company has a
commercially viable mineral deposit (a reserve) on the property. In order to
balance this risk, EMX focuses on entering into agreements with other parties to
convert its royalty generation exploration assets into royalty interests with
partners advancing the projects. EMX also looks to purchase royalty properties
in the open market to help accelerate revenue streams.</P>
<P align=justify>EMX has built a portfolio of precious metal, base metal, and
polymetallic mineral property and royalty interests that spans five continents
and covers over 1.5 million acres. These assets provide revenue streams from
royalty, advance royalty and success-based bonus payments, while maintaining
exposure to exploration upside as projects are advanced by the operators and
partners. The Company supplements mineral property revenue streams and value
creation by making strategic investments in companies with under-valued mineral
property assets that provide shareholders with upside potential from exit
strategies can include royalty positions, equity sales, or a combination of
both.</P>
<P align=justify>EMX has a material interest in the Leeville royalty property
located in Nevada's Northern Carlin Trend. Additional property descriptions are
included in this report, but the Company does not consider that individually
these properties are material at this time. The Company also has a material
equity investment in IG Copper LLC, a private company that has exploration
property interests located in the Russian Far East.</P>
<P align=justify><B><I><U>Leeville and Royalty Property
Overview</U></I></B><B><I> </I></B></P>
<P align=justify>The Leeville royalty property is a material EMX asset acquired
in the 2012 merger with Bullion Monarch that covers portions of Newmont Mining
Corporation&#146;s Leeville, Turf, and other underground gold mining operations and
deposits in the Northern Carlin Trend. The Leeville 1% gross smelter return
("GSR") royalty paid approximately US$1.86 million during the 12 months ending
December 31, 2017, which included settlement of prior year production payments
due. Royalty production reported by Newmont for 2017 totaled 1,308 troy ounces
of gold that were principally sourced from the Leeville (58%) and Turf
underground operations (42%), with negligible contributions from other Newmont
operations. The average realized gold price from the Leeville royalty in 2017
was approximately US$1,255 per troy ounce. Newmont has stated that its Turf Vent
Shaft Project, which was commissioned in November 2015, will provide the
ventilation required to &#147;increase production&#148; and &#147;unlock&#148; additional resources
at &#147;greater Leeville&#148;. As understood by the Company, "greater Leeville" includes
portions of EMX&#146;s royalty property, and the Turf Vent Shaft Project as described
by Newmont may potentially have a positive impact on the Leeville royalty.
However, the Company does not have access to the information from Newmont in
order to confidently assess what, if any, that impact has been or will be.
Newmont also reported ongoing exploration successes at Four Corners, as well as
along the Rita K and Full House gold mineralized corridor which is partially
covered by the Leeville royalty. These ongoing Newmont exploration successes
underscore the prospectivity of the Leeville royalty property. </P>
<P align=justify>Further Carlin Trend exploration upside is provided by EMX&#146;s
Maggie Creek South 3% NSR and Maggie Creek 2% NSR royalty properties. The Maggie
Creek South royalty property was also acquired in the 2012 merger with Bullion
Monarch. The Maggie Creek royalty property is one of two royalties acquired from
Golden Predator Corp ("Golden Predator") (TSX-V: GPY) in 2016. The Maggie Creek South and Maggie Creek
royalty properties collectively cover approximately 12.4 square kilometers of
prospective ground within ~1.6 kilometers of Newmont&#146;s Gold Quarry open pit
mining operation.</P>
<P align=right>38 </P>
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<P align=justify>In addition to EMX&#146;s Carlin Trend royalty properties, the
Company has important royalty property interests elsewhere in the western U.S.,
as well as in Turkey, Serbia, Norway, Sweden, and Haiti including: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Arizona Mining Inc. ("AMI") (TSX: AZ) continued to advance the Hermosa
  property's Taylor discovery that is directly north of EMX's Hardshell Skarn
  royalty claim block. AMI released an updated mineral resource and PEA study
  for the Hermosa project in 2017 (see AMI news release dated April 3, 2017).
  </P>
  <LI>
  <P>EMX received pre-production and royalty payments from its Turkish portfolio
  in 2017, including the initial two pre- production payments from the Akarca
  project totaling US$1,235,840 (the cash equivalent of 1,000 troy ounces of
  gold). As a subsequent event, EMX received a payment of US$665,525 on February
  5, 2018, as the cash equivalent to the third 500 ounce gold bullion payment to
  be made under the terms of the Akarca agreement. Receipt of this third payment
  leaves a pre-production total of 5,500 ounces of gold (or the cash equivalent)
  to be paid to EMX on a schedule of 500 ounces every six months. EMX also
  received the first royalty payment from the Balya property in 2017. The
  Company anticipates ongoing payments from Akarca and Balya, as well as
  advancement of the other Turkish assets in 2018. </P>
  <LI>
  <P>EMX&#146;s portfolio in Serbia represents a combination of organically generated
  royalties complemented by a key royalty purchase that covers the Timok
  Project's Cukaru Peki copper-gold deposit, which is being advanced by Nevsun
  Resources Ltd. ("Nevsun") (TSX: NSU). Cukaru Peki's high grade massive sulfide
  Upper Zone had a positive PEA and updated resource completed in 2017 (see
  Nevsun news release dated October 26, 2017). According to Nevsun, "key
  activities" for 2018 include the completion of the Upper Zone prefeasibility
  study and commencement of an exploration decline once permits are received
  (see Nevsun news release dated January 31, 2018). Nevsun states that Lower
  Zone porphyry exploration drilling program will continue in 2018. </P>
  <LI>
  <P>In Scandinavia, EMX closed the sale of four exploration properties in
  Norway and Sweden in early 2017 to Boreal Metals Corp. ("Boreal") for a 3% NSR
  royalty, a 19.9% Boreal equity interest, and other considerations. Also in
  2017, EMX optioned the Sl&#228;ttberg nickel-copper-cobalt project in Sweden to
  Sienna Resources Inc. (&#147;Sienna&#148;) (TSX-V: SIE) for immediate share equity in
  Sienna, and upon Sienna's earn-in through work commitments, additional share
  equity and a 3% NSR royalty on the project. The Viscaria copper royalty
  property in Sweden, acquired in 2010, was advanced by Sunstone Metals Ltd.
  (ASX: STM) (name changed from Avalon Minerals Ltd. in Q3 2017) with ongoing
  Environmental Impact Statement Assessment (&#147;EISA&#148;) studies and exploration
  drilling. </P>
  <LI>
  <P>All of EMX's interests in Haiti have been converted into NSR royalties,
  with the sale of joint venture interests to Newmont in 2015 for a US$4 million
  cash payment as well as a 0.5% NSR royalty, and the 2016 sale of the Grand
  Bois property to a privately held corporation for a retained 0.5% NSR royalty
  interest. </P></LI></UL>
<P align=justify>EMX&#146;s other properties that are either optioned or have been
sold include EMX royalty options. Many of these properties provide milestone and
advance minimum royalty ("AMR") or advance annual royalty ("AAR") payments that
generate early revenue streams to EMX&#146;s benefit prior to production. Additional
details on EMX&#146;s royalty and royalty generation property portfolio are included
in the following sections. </P>
<P align=justify><B><I><U>North America</U></I></B></P>
<P align=justify>EMX&#146;s portfolio in North America totals 40 royalty and royalty
generation properties covering more than 47,000 hectares. There are 16 royalty
properties, including the producing Leeville royalty (see above section), that
are being advanced by their respective operating companies, and 24 royalty
generation properties available for partnership in Arizona, Nevada, Utah, and
Wyoming. The royalty generation properties are advanced through wholly-owned
subsidiary BCE, and include porphyry copper-molybdenum, porphyry copper-gold,
Carlin-type gold, and high-grade gold-silver vein projects.</P>
<P align=justify>The Company&#146;s 2017 work focused on advancing partner funded
projects, executing new agreements for available projects, generative
exploration, identifying royalty assets for purchase, and growing the portfolio
by acquiring new properties on open ground. EMX is in discussions with multiple
potential partners for the available North American properties, as well as for
regional exploration alliances. </P>
<P align=right>39 </P>
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<P align=center><IMG src="form20fx42x1.jpg" border=0 width="514" height="451"> </P>
<P align=justify><B>Maggie Creek and Maggie Creek South Properties </B></P>
<P align=justify>The Maggie Creek gold property is located approximately two
kilometers north-northeast of Newmont's Gold Quarry mining operation on the
Carlin Trend. EMX purchased the Maggie Creek 2% NSR royalty on all precious
metals and a 1% NSR royalty on all other minerals from Golden Predator in 2016.
The Maggie Creek royalty property covers approximately 7.2 square kilometers and
is controlled by Renaissance Gold Inc. Maggie Creek occurs along the northeast
projection of the Gold Quarry fault zone, which is an important mineralizing
control at the Gold Quarry mine. Renaissance did not report of any work
completed on the project in 2017. </P>
<P align=justify>EMX's Maggie Creek South 3% NSR royalty was acquired in 2012.
Maggie Creek South occurs approximately 1.5 kilometers south-southeast of Gold
Quarry, and covers about 5.2 square kilometers of ground controlled by Newmont.
Maggie Creek South occurs on the southeast projection of the Good Hope fault
trend, which has an alignment of deposits along its length including Mike, Tusc,
Mac, and Gold Quarry, as well as the down-dip projection of favorable host rocks
(see EMX news release dated February 23, 2016). EMX is not aware of any work
conducted by Newmont on the property during 2017. </P>
<P align=justify><B>Afgan Property </B></P>
<P align=justify>The Afgan gold property is located about 40 kilometers
northwest of Eureka, Nevada on the Battle Mountain-Eureka Trend.</P>
<P align=justify>EMX purchased the Afgan 1% NSR royalty as part of the 2016
Golden Predator transaction that also included the Maggie Creek royalty (see
above section). The Afgan unpatented lode mining claim block is controlled by
McEwen Mining Inc. ("McEwen Mining") (TSX: MUX, NYSE: MUX). The property hosts a
semi-continuous, 1,050 by 450 meter, north-northwest oriented zone of oxide gold
mineralization delineated by historic drilling programs and hosting a historic
resource (see EMX news release dated February 23, 2016). McEwen Mining did not
report any work completed on the project in 2017. </P>
<P align=right>40 </P>
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<P align=justify><B>Cathedral Well Property</B></P>
<P align=justify>The Cathedral Well gold project is located at the southern end
of the Battle Mountain-Eureka gold trend and surrounds most of the historic
Green Springs mine.</P>
<P align=justify>EMX executed an Option Agreement with Ely Gold Inc. for the
Cathedral Well property in 2014 for staged option payments and a 2.5% NSR
royalty interest, inclusive of an underlying 0.5% NSR. Ely Gold completed their
earn-in for the property in November of 2016 through a trade with EMX, whereby a
subsidiary of Ely Gold executed a quit claim deed for 36 mining claims adjacent
to EMX&#146;s Spring Canyon property in Nevada in lieu of its last US$25,000 option
payment. In December 2016, Ely Gold announced it had optioned the property to
Colorado Resources Ltd. (TSX-V: CXO). Both the property and agreement remained
in good standing during 2017. </P>
<P align=justify><B>Hardshell Skarn Property </B></P>
<P align=justify>The Hardshell Skarn lead-zinc-silver property is located
approximately 75 kilometers southeast of Tucson, Arizona. The property is
included as part of Arizona Mining Inc.'s ("Arizona Mining" or "AMI&#148;) Hermosa
project. EMX's early stage exploration programs targeted base and precious
metals mineralization hosted in skarn and replacement bodies within a series of
Paleozoic limestones.</P>
<P align=justify>An Exploration and Option Agreement was executed in 2015 for
the Hardshell Skarn project with Arizona Mining. In 2017, Arizona Mining earned
100% interest in the project under the agreement by accelerating and completing
the required US$85,000 in cash payments. EMX now retains a 2% NSR royalty on the
property that is not capped nor subject to buy-down, and also will receive
annual advanced royalty payments. </P>
<P align=justify>During 2017, AMI continued to advance the Hermosa property's
Taylor discovery that is directly north of EMX's Hardshell Skarn royalty claim
block (the "royalty claim block"). AMI's work included exploration and drill
programs at the Taylor Deeps discovery. In Q3, EMX announced results from two
AMI angle diamond drill holes that intersected mineralization within the royalty
claim block, including intercepts of 32 feet (3170-3202 ft) averaging 12.21%
zinc, 8.19% lead, and 2.25 oz/ton silver in hole HDS-353 (true width) (last 3
feet of intercept within the claim block) and 25 feet (2948.5 -2973.5 ft)
averaging 1.47% zinc, 1.95% lead, and 4.15 oz/ton silver in hole HDS-380 (true
width ~90%) (intercept entirely within the claim block) (see EMX news release
dated August 30, 2017). AMI describes the HDS-353 and HDS-380 intercepts as
"Taylor Sulfide" mineralization. Also in 2017, AMI announced the results from
its PEA for the Taylor Sulfide deposit (see AMI news release dated April 3,
2017).</P>
<P align=justify><B>Greenwood Peak Property</B></P>
<P align=justify>The Greenwood Peak copper porphyry project, located
approximately 175 kilometers northwest of Phoenix, Arizona, contains a copper
porphyry target beneath younger gravels and basin fill sediments. </P>
<P align=justify>EMX executed an Option Agreement with a wholly owned subsidiary
of Antofagasta plc (&#147;Antofagasta&#148;) (LSE: Anto) in late 2017 for Greenwood Peak
(see EMX news release dated December 18, 2017). Antofagasta can earn 100%
interest in the project by: a) reimbursing EMX&#146;s acquisition costs and making
annual option payments, together totaling US$630,000, and b) completing
US$4,500,000 in work expenditures within the five year option period. Upon
exercise of the option EMX will retain a 2% NSR royalty on the project, which is
not capped and not subject to buy-down. After exercise of the option, annual
advance royalty and milestone payments will be due to EMX.</P>
<P align=justify>The Greenwood Peak project is fully permitted, and Antofagasta
commenced a reconnaissance drill program in December, 2017 to test concealed
supergene and hypogene copper porphyry targets. </P>
<P align=justify><B>Copper King Property</B> </P>
<P align=justify>The Copper King porphyry copper-molybdenum project is located
approximately four kilometers northwest of the Resolution porphyry copper
deposit in the Superior (Pioneer) mining district of Arizona.</P>
<P align=justify>In 2016, EMX executed an Exploration and Option to Purchase
Agreement with Kennecott Exploration Company ("Kennecott"), part of the Rio
Tinto Group, for Copper King (see EMX news release dated October 19, 2016).
Pursuant to the agreement, Kennecott can earn 100% interest in the project by a)
reimbursing the 2016 holding costs and making option payments, together totaling
US$504,314, and b) completing US$4,000,000 in exploration expenditures before
the fifth anniversary of the agreement. Upon exercise of the option, EMX will
retain a 2% NSR royalty on the project which is not capped and not subject to
buy-down. After exercise of the option, annual AMR and milestone payments will
be due to EMX. </P>
<P align=justify>During 2017, Kennecott funded work at Copper King included
geologic mapping, geochemical sampling, a magnetotelluric geophysical survey,
and one drill hole to test the deep, western edge of a concealed porphyry copper
target.</P>
<P align=right>41 </P>
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<P align=justify><B>Superior West Property </B></P>
<P align=justify>The Superior West project is located west of the historic
mining town of Superior, Arizona and Resolution Copper&#146;s property. The project
covers several porphyry copper targets, as well as the interpreted western
extension of the historic Magma Vein.</P>
<P align=justify>EMX executed an Exploration and Option to Purchase Agreement
with Kennecott for the Superior West project in 2015. Kennecott may earn 100%
interest in the project by completing US$5.5 million in exploration expenditures
and making cash payments totaling US$1,149,187, after which EMX will retain a 2%
NSR in addition to annual AMR and certain project milestone payments (see EMX
news release dated May 4, 2015).</P>
<P align=justify>During 2017, Kennecott funded work included additional
magnetotelluric geophysical surveys, further consolidating the project's land
position, the identification of priority porphyry targets for follow-up, and
completion of cultural (archaeological) and biological surveys to permit 15
additional drill sites that were added as options to the project's Plan of
Operations. </P>
<P align=justify><B>Buckhorn Creek Property </B></P>
<P align=justify>The Buckhorn Creek project is located in north-central
Arizona's greater Castle Creek Mining District. The project lies within a highly
extended belt of rocks that include multiple outcrops of porphyry-related
alteration and mineralization. EMX&#146;s work on the property led to the recognition
of an un-tested porphyry target situated to the east of altered outcrops, and
concealed beneath volcanic and sedimentary cover rocks.</P>
<P align=justify>As a subsequent event in February 2018, EMX executed an Option
Agreement with Kennecott. Kennecott can earn 100% interest in the project by: a)
making annual option payments totaling US$550,000, and b) completing
US$4,500,000 in exploration expenditures before the fifth anniversary of the
agreement (see EMX news release dated February 8, 2018). Upon exercise of the
option, EMX will retain a 2% NSR royalty on the project which is not capped or
purchasable. After exercise of the option, annual advance minimum payments and
milestone payments will be due to EMX. </P>
<P align=justify>Kennecott is currently conducting a geologic mapping and
sampling program in anticipation of an initial drill test. </P>
<P align=justify><B>Copper Springs Property </B></P>
<P align=justify>The Copper Springs project is located in the southern part of
Arizona's Globe-Miami mining district. EMX's work and geologic interpretations
led to the recognition that the property covers a previously unrecognized
porphyry trend that crosses largely untested, structurally down-dropped blocks
concealed beneath younger basin fill. </P>
<P align=justify>In 2017, EMX executed an Option Agreement for Copper Springs
with Anglo American Exploration (USA), Inc. (&#147;Anglo American&#148;) (see EMX news
release dated February 28, 2017). Anglo American can earn 100% interest in the
project by: a) reimbursing 2016 holding and permitting costs and making annual
option payments, together totaling US$447,000, and b) completing US$5,000,000 in
exploration expenditures before the fifth anniversary of the agreement. Upon
exercise of the option, Anglo American will pay EMX an additional US$110,000 and
EMX will retain a 2% NSR royalty on the project. The royalty is not capped or
purchasable, except over two parcels of Arizona State Land where Anglo American
can buy a 0.5% NSR royalty from EMX for US$2,000,000. After exercise of the
option, annual AMR payments and milestone payments will be due to EMX. </P>
<P align=justify>Anglo American funded work during 2017 included expanding the
project's land position, the completion of a property-wide aeromagnetic survey,
and the commencement of a two-hole reconnaissance drill program in December to
test concealed porphyry targets. </P>
<P align=justify><B>Mineral Hill Property </B></P>
<P align=justify>The Mineral Hill gold-copper project is located in the Black
Hills of Wyoming, approximately 20 kilometers west of the Wharf mine in South
Dakota. The project is centered on an Eocene age alkaline intrusive complex
consisting of an outer ring complex, interior intrusive complex, and interior
breccia zone. Historic small scale production in the project vicinity occurred
between the 1870&#146;s and 1930&#146;s, and principally was sourced from alluvial gold in
drainages, gold and silver mineralization at the Treadwell Mine, and gold and
copper mineralization near the Interocean Mine.</P>
<P align=right>42 </P>
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<P align=justify>EMX entered into an Exploration and Option Agreement with Coeur
Explorations, Inc. (&#147;Coeur&#148;), a subsidiary of Coeur Inc. for Mineral Hill in
2016 (see EMX news release dated October 27, 2016). The project is held under a
pooling agreement with Mineral Hill L.P. (&#147;MHL&#148;), with all proceeds split 50:50,
except the sale of surface rights associated with patented mining claims held by
MHL. Coeur may earn a 100% interest in the project by a) making option payments
totaling US$435,000 (US$10,000 received upon execution), b) making exploration
expenditures totaling US$1,550,000 and c) paying US$250,000 upon exercise of the
option, with EMX and MHL retaining a 4% NSR royalty and receiving annual advance
minimum royalty payments and a milestone payment upon completion of a
feasibility study. Coeur may purchase up to 1.5% of the NSR royalty for
US$5,000,000 if the first increment is purchased within 60 days of the
completion of a PEA. </P>
<P align=justify>In 2017, Coeur expanded the property position by staking new
claims, conducted geologic mapping and geochemical sampling work, and began
permitting for an anticipated drill program on US Forest Service land. </P>
<P align=justify><B>Ophir Royalty Property </B></P>
<P align=justify>The Ophir property is located in the northern portion of Utah's
Ophir mining district, approximately 15 kilometers southwest of Rio Tinto&#146;s
Bingham Canyon mine. The Ophir district is characterized by
silver-lead-zinc-copper replacement deposits and fissure veins hosted within
carbonate sedimentary rocks and associated with monzonitic stocks and dikes. The
property contains several small-scale historic mines with dump material
characterized by mineralization similar to other historic mines in the district.
The district's silver and base metals mineralization may be a distal expression
of associated porphyry copper mineralization at depth. </P>
<P align=justify>In 2016, EMX sold the five patented mining claims comprising
the Ophir property to Kennecott. EMX received US$75,000 in cash upon closing and
retained a 2% NSR royalty interest from the sale (see EMX news release dated
October 17, 2016). Kennecott advises that in 2017 the claims were maintained and
that the property is in good standing.</P>
<P align=justify><B>Yerington West Property </B></P>
<P align=justify>The Yerington West property, located in the Yerington mining
district of west-central Nevada, contains porphyry copper-molybdenum and
copper-iron skarn targets beneath post-mineral cover rocks. Yerington West is
under a 2009 Option Agreement. The agreement was originally with Entr&#233;e Gold
Inc. ("Entr&#233;e"), and now is with Mason Resources Corp. ("Mason") (TSX: MNR) as a
result of a 2017 "spin out" whereby Entr&#233;e transferred the Ann Mason project,
which includes EMX's Yerington West property, into Mason, a newly incorporated
company.</P>
<P align=justify>Under the agreement, Mason can earn up to an 80% interest in
the project by a) incurring expenditures, making cash payments, and issuing
shares of the Company within three years (completed by Entr&#233;e), b) making
advance royalty payments; and c) delivering a feasibility study before the tenth
anniversary of the agreement. Under the agreement, once earn-in has been
completed, EMX can convert its interest to a 2.5% NSR royalty. Mason has the
option to buy down 1.5% of the NSR royalty for US$4.5 million.</P>
<P align=justify>An updated PEA for the Ann Mason project was announced in March
2017, with the Blue Hill and Ann Mason deposits outlined ~1.5 to 3 kilometers
east-northeast of EMX's block of 216 unpatented claims (see Mason news release
dated May 10, 2017 and SEDAR filed technical report). EMX's claims and the
option agreement with Mason remained in good standing during 2017. </P>
<P align=justify><B>Red Top Property</B> </P>
<P align=justify>The Red Top property is a porphyry copper-molybdenum project
located in the Globe-Miami mining district of Arizona.</P>
<P align=justify>EMX executed an Option Purchase Agreement in 2013 with Desert
Star Resources Ltd. ("Desert Star") whereby Desert Star could acquire a 100%
interest in the project for cash, shares, and work commitments, after which EMX
would retain a 2.5% NSR royalty. Desert Star advanced the project with geologic
and alteration mapping, geophysical studies, and drill permitting. The project
returned to 100% EMX control after Desert Star elected to terminate its option
for the property in January of 2017.</P>
<P align=justify>The Red Top property is currently permitted for drill testing
and available for partnership. </P>
<P align=justify><B>Other Work Conducted by EMX in the U.S. </B></P>
<P align=justify>EMX continued evaluation of property and royalty acquisition
opportunities in North America, with generative work focused on gold
opportunities in the Great Basin and porphyry copper targets in Arizona and
Utah. EMX acquired the following properties in 2017 by staking on open ground: 1) the Swift and
Selena gold projects in Nevada, and the 2) the Ripsey West, Dragon's Tail, Spike
E Hills, and Midnight Juniper copper projects in Arizona. The Swift and Midnight
Juniper projects represent large, highly prospective land positions and are
located within world class mining districts (Cortez-Pipeline and Morenci
districts, respectively).</P>
<P align=right>43 </P>
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<P align=justify><B>Qualified Person</B> </P>
<P align=justify>Dean D. Turner, CPG, a Qualified Person as defined by NI 43-101
and consultant to the Company, has reviewed, verified and approved the above
technical disclosure on North America. </P>
<P align=justify><B><I><U>Turkey</U></I></B></P>
<P align=justify>EMX has royalty and royalty generation property interests in
Turkey&#146;s Western Anatolia and Eastern Pontides mineral belts. These properties
include bulk tonnage gold, gold-silver vein, polymetallic carbonate replacement,
and porphyry gold-copper targets. Five of the seven EMX projects in Turkey are
operated by partner companies. EMX has retained Dama Muhendislik Proje ve Maden
San.Tic. A.S (&#147;Dama&#148;), an internationally recognized Turkish engineering company
based in Ankara, to manage EMX's interests in Turkey. </P>
<P align=center>
<IMG
src="form20fx46x1.jpg"
border=0 width="639" height="321"></P>
<P align=justify><B>Akarca Property </B></P>
<P align=justify>The Akarca royalty property covers an epithermal gold-silver
district located in the Western Anatolia mineral belt that was discovered by EMX
in 2006. The project has six zones of gold-silver mineralization defined by
drilling, geologic mapping, geochemical sampling, and geophysical survey
programs principally funded by partner companies.</P>
<P align=justify>In 2016, EMX sold AES Madencilik A.S., the wholly-owned EMX
subsidiary that controls the Akarca project, to &#199;iftay Insaat Taahh&#252;t ve Ticaret
A.S. ("&#199;iftay"), a privately owned Turkish company (see EMX news release dated
August 8, 2016). Commercial terms of the sale provide payments to EMX as
summarized below (gold payments can be as gold bullion or the cash
equivalent):</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>US$2,000,000 cash payment to EMX upon closing of the sale (completed). </P>
  <LI>
  <P>500 ounces of gold every six months commencing February 2, 2017 up to a
  cumulative total of 7,000 ounces of gold. By year-end 2017, the following 500
  ounce cash equivalent payment have been made to EMX: US$601,825 in February
  2017, US$634,825 in July 2017, and US$665,525 in February 2018. Receipt of
  these payments leaves a pre-production total of 5,500 ounces of gold (or the
  cash equivalent) to be paid to EMX. </P>
  <LI>
  <P>7,000 ounces of gold within 30 days after the commencement of commercial
  production from the property provided that prior gold payments will be
  credited against this payment. </P>
  <LI>
  <P>250 ounces of gold upon production of 100,000 ounces of gold. </P></LI></UL>
<P align=right>44 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >&#149; </TD>
    <TD align=left width="90%" >250 ounces of gold upon
      production of an aggregate of 500,000 ounces of gold. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >
      <P align=justify>&#149; </P></TD>
    <TD align=left width="90%" >
      <P align=justify>A sliding-scale royalty in the amount of the following
      percentages of production returns after certain deductions (&#147;Royalty&#148;):
      </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left>
      <P align=justify>&#151; </P></TD>
    <TD align=left width="85%" >
      <P align=justify>For gold production: 1.0% on the first 100,000 ounces of
      gold; 2.0% on the next 400,000 ounces of gold; 3.0% on all gold production
      in excess of 500,000 ounces. </P></TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left>&#151; </TD>
    <TD align=left width="85%" >
      <P align=justify>For all production other than gold production: 3.0%.
    </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >The Royalty is uncapped and
      cannot be bought out or reduced. </TD></TR></TABLE>
<P align=justify>&#199;iftay made its first two pre-production payments totaling
US$1,235,840 to EMX (the cash equivalent of 1,000 troy ounces of gold) during
2017. As a subsequent event, EMX received a payment of US$665,525 on February 5,
2018, as the cash equivalent to the third 500 ounce gold bullion payment to be
made under the terms of the agreement. Receipt of this payment leaves a
pre-production total of 5,500 ounces of gold (or the cash equivalent) to be paid
to EMX. </P>
<P align=justify>In addition, &#199;iftay has work requirements that include drilling
at least 3,000 meters on the property during each 12-month period starting from
August 5, 2016. &#199;iftay completed a 49 hole diamond drill program comprising
6,032 meters in 2016, a 67 hole diamond drill program comprising approximately
7,300 meters in 2017, and over 4,200 meters of trenches in 2017. &#199;iftay also
advised it is undertaking various engineering and environmental base line
studies on the property. </P>
<P align=justify><B>Sisorta Property </B></P>
<P align=justify>The Sisorta royalty property, located in the Eastern Pontides
mineral belt, is a near-surface, volcanic-hosted, high sulfidation epithermal
gold deposit. Exploration programs at Sisorta, principally funded by partner
companies, have included diamond drilling, geologic and alteration mapping,
geochemical sampling, and geophysical surveys. This work has outlined a 1000 by
600 meter zone of shallow oxide gold mineralization with underlying copper and
gold porphyry potential at depth. </P>
<P align=justify>In 2016, EMX sold EBX Madencilik A.S., the wholly-owned EMX
subsidiary that controls the Sisorta property, to Bahar Madencilik Sinayi ve
Ticaret Ltd Sti ("Bahar"), a privately owned Turkish company (see EMX news
release dated August 3, 2016). The terms of the sale provide for Bahar's staged
payments to EMX as summarized below:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>US$250,000 cash payment to EMX upon closing of the sale
      (completed). </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >
      <P align=justify>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Annual cash payments of US$125,000 (&#147;Advance Cash
      Payments&#148;) payable on each anniversary of the closing date until
      commencement of commercial production. </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >
      <P align=justify>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>3.5% of production returns after certain deductions (&#147;NSR
      Payment") for ore mined from the property that is processed on-site
      (increased to 5% if the ore is processed off-site). </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >
      <P align=justify>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>The Advance Cash Payments will be credited at a rate of
      80% against the NSR Payment payable after commercial production commences.
      </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >
      <P align=justify>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>The NSR Payment is uncapped and cannot be bought out or
      reduced. </P></TD></TR></TABLE>
<P align=justify>Bahar advised EMX that it concluded an initial 20 hole diamond
drill program comprising 1,748 meters in 2016, and that environmental permitting
continued in 2017 as a key step towards mine development.<I> </I></P>
<P align=justify><B>Balya Property </B></P>
<P align=justify>The Balya royalty property is located in the historic Balya
lead-zinc-silver mining district in northwestern Turkey. EMX holds an uncapped
4% NSR royalty that it retained from the sale of the property to Dedeman
Madencilik San ve Tic. A.S. ("Dedeman"), a privately owned Turkish company, in
2006.</P>
<P align=justify>EMX understands that since acquiring the property, Dedeman has
completed over 36,000 meters of diamond drilling in addition to commencing small
scale underground development at the Hastanetepe deposit in 2015. Hastanetepe is
a moderately dipping, 750 by 450 meter zone that extends from depths of 10-20
meters to 200-300 meters as multiple stacked horizons of lead-zinc-silver
mineralization primarily developed along contacts between limestones and dacitic
intrusions. Dedeman's development work has concentrated on an area of shallow,
higher grade lead-zinc-silver mineralization on the northeast margin of
Hastanetepe with a production shaft and two working levels. Dedeman advised EMX
that it is continuing with production of lead-zinc-silver mineralized material
at Hastanetepe. </P>
<P align=justify>The Balya royalty due to EMX from 2016 production totaled
US$154,299, from which Dedeman's earlier advance royalty payment of US$100,000
was credited, resulting in an adjusted payment to EMX of US$54,299 completed in
2017. EMX will receive full royalty payments going forward, with additional
payments expected for sales of materials as mining continues. Dedeman advised it
had been selling both mineral concentrates and run-of-mine materials into the
market during 2017.</P>
<P align=right>45 </P>
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<A name=page_48></A>
<P align=justify><B>Golcuk Property </B></P>
<P align=justify>The Golcuk royalty property is located in the Eastern Pontides
metallogenic belt of northeast Turkey. The mineralization at Golcuk primarily
occurs as stacked, stratabound horizons with disseminated copper and silver
hosted in volcanic units, as well as in localized cross-cutting fault-controlled
veins and stockworks of bornite, chalcopyrite and chalcocite.</P>
<P align=justify>Pasinex Resources Ltd. (&#147;Pasinex&#148;) (CSE:PSE) signed an
agreement in 2012 granting Pasinex an option to acquire 100% interest in the
Golcuk property for 3,000,000 common shares of PSE and work commitments. EMX
retains a 2.9% NSR royalty, which Pasinex has the option of buying down to 0.9%
within six years of the agreement date for US$1 million. In 2017 EMX received
224,150 shares of Pasinex and US $49,204 in cash for the advance royalty payment
due in September, 2017.</P>
<P align=justify>Pasinex conducted limited (i.e., ~1000 m) reconnaissance drill
testing on the Golcuk South copper target in 2017. </P>
<P align=justify><B>Trab-23 Property </B></P>
<P align=justify>The Trab-23 property is located in northeast Turkey. The
project hosts both porphyry gold (copper-molybdenum) mineralization and
epithermal quartz-barite-gold veins.</P>
<P align=justify>Tumad Madencilik Sanayi ve Ticaret A.S. (&#147;Tumad&#148;), a privately
owned Turkish company, executed an option agreement in February 2013 granting it
an option to acquire Trab-23 from EMX. The Trab-23 agreement provided for
in-ground spending requirements, a revenue stream of annual earn-in and
pre-production payments, and a revenue stream based upon production. Tumad's
payment and drill requirements have not been met. Tumad terminated the agreement
in 2017, and is currently in the process of returning the property to 100% EMX
control.</P>
<P align=justify><B>Alankoy Property </B></P>
<P align=justify>The Alankoy gold-copper property, located in the Biga Peninsula
of northwestern Turkey, occurs in an area noted for discoveries characterized by
alunite-rich epithermal alteration and the development of vuggy silica
lithocaps. EMX's work has outlined a six square kilometer area of lithocaps and
quartz&#150;alunite and argillic alteration with gold-copper mineralization as well
as skam and replacement style mineralization based upon geologic mapping, rock
and soil sampling, spectral analyses, ground magnetics, and historic
reconnaissance drill results.</P>
<P align=justify>EMX executed an Exploration and Option Agreement for Alankoy
with Black Sea Copper &amp; Gold Corp. (&#147;Black Sea&#148;), a privately-held British
Columbia corporation, in November, 2015. In 2016, Black Sea conducted surface
exploration programs, and met statutory requirements to keep the property in
good standing. In 2017, Black Sea terminated the agreement, and EMX regained
100% control of the project. Alankoy is currently available for partnership.</P>
<P align=justify><B>Other Property Interests </B></P>
<P align=justify>EMX has a royalty interest in the Aktutan polymetallic project
sold to Dedeman in 2007 for considerations that include a 4% uncapped NSR and
annual advance royalty payments. Dedeman advises it is currently evaluating the
next steps for the project, while awaiting approval for an operations permit.
</P>
<P align=justify><B>Qualified Person </B></P>
<P align=justify>Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101
and employee of the Company, has reviewed, verified and approved the above
technical disclosure on Turkey. </P>
<P align=justify><B><I><U>Europe</U></I></B></P>
<P align=justify>EMX has been actively exploring in Europe since 2003, and has
assembled a diverse portfolio of copper, polymetallic, nickel and cobalt royalty
and royalty generation properties in Scandinavia, as well as a portfolio of
copper and gold royalty properties in Serbia. In Scandinavia, the Company
continued to pursue strategic royalty partnerships for properties in the
portfolio and add value through low cost generative exploration. These efforts
have resulted in the conversion of five exploration properties to royalty and
equity interests, as well as the addition of multiple gold, polymetallic, nickel
and cobalt royalty generation properties to the portfolio. EMX also has
important royalty interests in Serbia that include Nevsun's Timok Project and
the Cukaru Peki copper-gold deposit located in the prolific Timok Magmatic
Complex.</P>
<P align=right>46 </P>
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<P align=justify><B>Scandinavia </B></P>
<P align=justify>Scandinavia is a favorable jurisdiction for mineral exploration
and development, and EMX has been focused on organically generating and growing
the royalty portfolio. The sale of core assets to Boreal Metals Corp.
("Boreal"), which closed in Q1 2017, included the Gumsberg and Adak properties
in Sweden, and the Tynset and Burfjord properties in Norway. These properties
were acquired by EMX between 2013 and 2015 by license application on open
ground. Gumsberg, Adak, and Tynset host Volcanogenic Massive Sulfide (&#147;VMS&#148;)
polymetallic mineralization, and Burfjord is characterized by
Iron-Oxide-Copper-Gold (&#147;IOCG&#148;) mineralization. EMX identified multiple
exploration targets on these properties based upon combinations of historic data
compilations, geologic mapping, geochemical sampling, geophysical surveys, and
reconnaissance drilling. </P>
<P align=center><IMG src="form20fx49x1.jpg" border=0 width="339" height="551"> </P>
<P align=justify>Commercial terms of the agreement with Boreal are summarized
below (see EMX news release dated November 22, 2016): </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>At closing, EMX transferred to Boreal its wholly-owned subsidiaries that
  owned the properties. </P>
  <LI>
  <P>At closing, Boreal issued to EMX common shares of Boreal representing a
  19.9% equity ownership in Boreal. Boreal had the continuing obligation to
  issue additional shares of Boreal to EMX to maintain its 19.9% interest in
  Boreal, at no additional cost to EMX, until Boreal raised CDN $5,000,000 in
  equity (completed). Thereafter, EMX has the right to participate pro-rata in
  future financings at its own cost to maintain its 19.9% interest in Boreal.
  </P>
  <LI>
  <P>EMX will receive an uncapped 3% net smelter return (&#147;NSR&#148;) royalty on each
  of the properties. Within five years of the closing date, Boreal has the right
  to buy down up to 1% of the royalty on any given project by paying EMX
  US$2,500,000 in cash and shares of Boreal. Such buy down is project specific.
  </P>
  <LI>
  <P>EMX will receive annual advance royalty (&#147;AAR&#148;) payments of US$20,000 for
  each of the properties commencing on the second anniversary of the closing,
  with each AAR payment increasing by US$5,000 per year until reaching US$60,000 per year, except that Boreal may
  forgo AAR payments on two of the four Properties in years two and three. Once
  reaching $60,000, AAR payments will be adjusted each year according to the
  Consumer Price Index (as published by the U.S. Department of Labor, Bureau of
  Labor Statistics). <BR>
</P></LI></UL>
<P align=right>47</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_50></A>
<UL style="TEXT-ALIGN: justify"><BR>
  <LI>
  <P>EMX will receive a 0.5% NSR royalty on any new mineral exploration projects
  generated by Boreal in Sweden or Norway, excluding projects acquired from a
  third party containing a mineral resource or reserve or an existing mining
  operation. These royalties are not capped and not subject to a buy down. </P>
  <LI>
  <P>EMX has the right to nominate one seat on the Board of Directors of Boreal
  (completed). </P></LI></UL>
<P align=justify>The conversion of the four properties in Sweden and Norway to
royalty and equity interests marked the achievement of a major Company
objective. Boreal subsequently raised over CDN $5,000,000 of capital via equity
and private placement financings, and obtained an initial public listing on the
TSX Venture Exchange as a Tier 2 issuer (TSX Venture: BMX). As of December 13,
2017 EMX held 9,205,882 common shares of Boreal representing ~18.1% on an issued
and outstanding basis (see EMX news release dated December 13, 2017). The
agreement with Boreal provides EMX with near-term AAR payments, potential
royalty revenue in the future, and upside from a equity holding in a
Scandinavian-focused resource company. </P>
<P align=justify>Following the Boreal transaction, EMX continued to aggressively
acquire new properties in Scandinavia during 2017, with a focus on orogenic
lode/intrusion-related gold, Iron-Oxide-Copper-Gold (&#147;IOCG&#148;), Volcanogenic
Massive Sulfide (&#147;VMS&#148;), Carbonate Replacement Deposit ("CRD"), and
nickel-copper-cobalt projects. The Company has acquired, or has pending
applications for, over 120,000 hectares of prospective ground in Sweden and
Norway that include: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>Intrusion-related gold projects along the Skellefte&#229; area, most of which
  are located along the &#147;Gold Line&#148;, Sweden&#146;s chief gold producing region.
  Additional base metal projects were also acquired in the Skellefte&#229; district.
  </LI></UL>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Multiple acquisitions in the Bergslagen region of southern Sweden,
  including EMX&#146;s Riddarhyttan IOCG/VMS project, as well as several polymetallic
  VMS, CRD, and nickel-copper-cobalt style targets. </P>
  <LI>
  <P>New acquisitions in Norway, including a prospective orogenic lode gold
  style project with outcropping gold mineralization, and a cobalt project along
  a trend of historic cobalt mines. </P></LI></UL>
<P align=justify>Most of these new royalty generation projects in Sweden and
Norway are available for partnership (see discussion of subsequent events
below), and have attracted interest from a number of potential partners.</P>
<P align=justify>In December 2017, EMX executed an option agreement for the sale
of the Sl&#228;ttberg Project to Sienna Resources Inc. (&#147;Sienna&#148;) (TSX Venture: SIE)
(see EMX news release dated December 4, 2017). The Sl&#228;ttberg Project hosts
nickel-copper-cobalt enriched massive sulfide mineralization, and is located
approximately 25 kilometers northwest of Falun, Sweden. Sienna can earn 100%
interest in the Project during a one-year option period, with commercial terms
of the agreement summarized below (all dollar amounts in CAD): </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>On signing the agreement, Sienna issued EMX 3 million common shares of
  Sienna stock. </P>
  <LI>
  <P>As a condition to the exercise of the option, Sienna must undertake work
  commitments of at least $500,000 on the Project, including drilling of at
  least 750 meters. </P>
  <LI>
  <P>Upon exercise of the option, Sienna will issue to EMX an additional 3
  million shares of Sienna stock, and EMX will receive a 3% NSR royalty on the
  Project. </P>
  <LI>
  <P>After exercise of the option, Sienna will use commercially reasonable
  efforts to raise $3,000,000 for development of the Project and other
  activities. Once Sienna has raised that amount, Sienna will issue an
  additional 4 million shares to EMX. Thereafter, EMX will have the right to
  participate pro-rata in future financings at its own cost to maintain its
  interest in Sienna. </P>
  <LI>
  <P>Within six years of the execution of the agreement, Sienna may purchase
  0.5% of the NSR royalty for $1,500,000, leaving EMX with a 2.5% NSR royalty.
  </P></LI></UL>
<P align=justify>As a subsequent event in 2018, EMX executed a definitive
agreement for the sale of the Modum cobalt project to Boreal (see EMX news
release dated January 16, 2018). The Modum Project is located in southern
Norway&#146;s Modum mining district, ~75 kilometers west of Oslo. The Project
partially surrounds the historic Skuterud mine property, which was Europe&#146;s
principal producer of cobalt from the late eighteenth through nineteenth
centuries. Pursuant to the agreement, Boreal will acquire 100% interest in the
Project according to the following commercial terms (all dollar amounts in USD):
</P>
<UL style="TEXT-ALIGN: justify">
  <LI>At closing, Boreal will issue to EMX 1,324,181 common shares of Boreal
  that will bring EMX&#146;s share of equity ownership in Boreal to 19.9%. EMX will
  have the right to participate pro-rata in future financings at its own cost to
  maintain its 19.9% interest in Boreal. </LI></UL>
<P align=right>48 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_51></A>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>At closing, EMX will transfer its Modum exploration licenses to Boreal.
</P>
  <LI>
  <P>EMX will retain a 3% NSR royalty on the Project, of which 1% may be
  purchased by Boreal on or before the fifth anniversary of the closing date in
  0.5% increments for a total of $2,500,000 in cash and common shares of Boreal
  stock. </P>
  <LI>
  <P>EMX will receive AAR payments, with an initial $20,000 payment, commencing
  on the second anniversary of the closing, with each subsequent AAR payment
  increasing by $5,000 per year until reaching $60,000 per year. Once reaching
  $60,000, AAR payments will be adjusted each year according to the Consumer
  Price Index (as published by the U.S. Department of Labor, Bureau of Labor
  Statistics). </P></LI></UL>
<P align=justify>EMX also holds an effective 0.5% NSR royalty interest in
Sunstone&#146;s (formerly Avalon) Viscaria copper project located in the Kiruna
mining district of northern Sweden. The Viscaria royalty was acquired by EMX
from the purchase of the Phelps Dodge Exploration Sweden AB assets in 2010. Upon
receipt of US$12 million in royalty revenues, the royalty rate increases to a
1.0% NSR. Avalon completed a mineral resource estimate and "scoping study" based
upon a combination open pit and underground scenario in 2015, and updated the
scoping study in 2016 (see Sunstone news releases dated December 15, 2015 and
April 5, 2016). During 2017, Sunstone continued to advance the Environmental and
Social Impact Assessment (ESIA) and permitting process for the project, and
conducted exploration drilling on the "D Zone South" target (see Sunstone's
December 2017 Quarterly Activities Report).</P>
<P align=justify><B>Serbia </B></P>
<P align=justify>EMX's royalty portfolio in Serbia initially resulted from
prospect generation and organic royalty growth via the 2006 sale of its
properties, including Brestovac West, to Reservoir Capital Corp., for uncapped
NSR royalties of 2% for gold and silver and 1% for all other metals. Reservoir
Capital Corp. later transferred those interests to Reservoir Minerals Inc.
(&#147;Reservoir&#148;). Subsequently, EMX acquired 0.5% NSR royalty interests (note: the
royalty percentage is subject to reduction only as provided in the royalty
agreement) covering the Brestovac and Jasikovo-Durlan Potok properties (see EMX
news release dated February 4, 2014). On April 24, 2016, Reservoir announced a
definitive agreement with Nevsun Resources Ltd. ("Nevsun") to combine their
respective companies. On May 2, 2016 Reservoir and Nevsun reported that a ROFO
on the project was successfully exercised, with Reservoir acquiring Freeport's
interest in the Cukaru Peki deposit's Upper Zone, and increasing its interest in
the Lower Zone joint venture with Freeport. Subsequently, Nevsun closed the
acquisition of Reservoir as announced on June 23, 2016.</P>
<P align=justify>EMX's Brestovac and Brestovac West royalty properties are
included in Nevsun's Timok Project, with Brestovac covering the Cukaru Peki
deposit's Upper and Lower Zones. EMX notes that a) the original Brestovac and
Brestovac West permits are now covered by the Brestovac Metonivca and Brestovac
Zapad permits, and b) portions of a reconfigured Jasikovo-Durlan Potok permit
(i.e., expanded in some areas and reduced in other areas) are not covered by the
EMX royalty. Brestovac (Brestovac Metonivca) hosts high sulfidation epithermal
and porphyry copper-gold mineralization at the Cukaru Peki deposit. </P>
<P align=center><IMG src="form20fx51x1.jpg" border=0 width="444" height="323"> </P>
<P align=justify>In 2017, Nevsun reported an updated PEA for the Timok Project's
Upper Zone with measured and indicated resources of 28.7 million tonnes
averaging 3.7% copper and 2.4 g/t gold, and inferred resources of 13.9 million
tonnes averaging 1.6% copper and 0.9 g/t gold at a "Resource NSR" cutoff &gt; US$35/tonne (based upon $3.49/lb Cu,
$1565/oz Au, and technical and economic parameters given in the PEA study) (see
Nevsun news release dated October 26, 2017 and SEDAR filed technical report).
The PEA outlined a 15 year mine life producing over 2.1billion pounds of payable
copper and 569 thousand ounces of payable gold, with an after tax NPV<SUB>8
</SUB>of US$1.5 billion. Nevsun's 2018 guidance stated that an in-progress
Pre-Feasibility Study ("PFS") would be completed in Q1 2018, and a $15 million
work program budgeted for the exploration decline was contingent on permitting
by the State of Serbia (see Nevsun news release dated January 31, 2018). Nevsun
further stated that it will invest US$50-60 million to advance development of
the Timok Upper Zone Project in 2018. </P>
<P align=right>49 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_52></A>
<P align=justify>In addition to Upper Zone development work, Nevsun has budgeted
for Upper and Lower Zone exploration in 2018. This work will include follow-up
on a new high grade zone of copper-gold mineralization drilled 500 meters east
of the Upper Zone that occurs over an area of 250 by 250 meters and has reported
intercepts that include 2.93% Cu and 2.54 g/t Au over 27 meters starting at 396
meters (true width estimated at 80-95%) (see Nevsun news release dated January
16, 2018). In addition, the ongoing 2017-2018 drill program for the Timok Lower
Zone project, which is in a joint venture with Freeport, is anticipated to be
completed in early 2018. Drill results for the Lower Zone, which outlines a
1,000 by 1,500 meter footprint of porphyry copper-gold mineralization, include
1.08% copper and 0.27 g/t Au over 747.4 meters starting at 1,341 meters (true
width estimated to be ~50-60%) (see Nevsun news release dated December 4, 2017).
</P>
<P align=justify>EMX's Timok royalty properties add significant upside potential
from one of the world's top copper development projects. </P>
<P align=justify><B>Qualified Person </B></P>
<P align=justify>Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101
and employee of the Company, has reviewed, verified and approved the above
technical disclosure on Europe. </P>
<P align=justify><B><I><U>Australia and New Zealand</U></I></B></P>
<P align=justify>The Company's programs in the Australia and New Zealand region
continued to operate at a reduced expenditure rate, while continuing to evaluate
generative royalty opportunities. The Koonenberry royalty property in New South
Wales, Australia is being advanced by operator Koonenberry Gold Pty Ltd. In New
Zealand, the Neavesville gold-silver royalty property is being advanced by
operator E2 Metals Ltd. The QLD Gold property in Queesnland, Australia, was
added to the Company's royalty generation portfolio in 2017. The Ohakuri and
Muirs Reef gold projects, located on New Zealand's North Island, were dropped in
2017 due to concerns about acquiring social license to advance the properties.
</P>
<P align=center>
<IMG
src="form20fx52x1.jpg"
border=0 width="644" height="436"> </P>
<P align=right>50 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_53></A>
<P align=justify><B>Koonenberry Property </B></P>
<P align=justify>The Koonenberry royalty property hosts gold occurrences and
gold geochemical anomalies coincident with prominent structural features related
to the regional scale Koonenberry fault. In 2017, Koonenberry Gold Pty Ltd.
(&#147;KNB&#148;) completed the earn-in requirements under the Exploration and Option
Agreement (the &#147;Agreement&#148;) between North Queensland Mining Pty Ltd. (&#147;NQM&#148;) and
the Company, and elected to acquire EMX&#146;s Koonenberry exploration licenses (see
EMX news release dated September 19, 2017). KNB, a private Australian company
formed for the purpose of developing the project, is the successor in interest
to NQM under the Agreement. The Company has now transferred its wholly-owned
subsidiary, EMX Exploration Pty Ltd, the holder of the Koonenberry licenses, to
KNB. EMX retains a 3% royalty on all future production from the Koonenberry
licenses. As a result of this transaction, all of EMX&#146;s interests in the
Koonenberry gold project have now been converted to royalties. KNB has informed
EMX of their intention to continue to explore and evaluate the development
potential of both the eluvial/alluvial and bedrock sources of gold at
Koonenberry. </P>
<P align=justify><B>Neavesville Property </B></P>
<P align=justify>The Neavesville property consists of a single exploration
permit in the Hauraki Goldfield of New Zealand's North Island. EMX acquired
Neavesville on open ground with minimal cost. The property hosts epithermal
gold-silver mineralization that has geologic features similar to other deposits
of the Hauraki Goldfield. </P>
<P align=justify>The project is under a definitive agreement with an Australian
company, E2 Metals Ltd. (ASX: E2M), which acquired the EMX subsidiary that
controls the Neavesville property. The agreement with E2M provides for work
commitments, staged payments, milestone payments based upon JORC reserves, and a
3% NSR production payment, all to the benefit of EMX. E2M's February 23, 2017
Replacement Prospectus included results from a JORC (2012) inferred resource
estimate for Trig's Bluff reported at a gold cut-off of 0.7 g/t gold as
1,489,500 tonnes averaging 2.58 g/t gold (123,600 oz Au contained) and 9.69 g/t
Ag (509,100 oz Ag contained). The independent resource statement, provided by
Mining Plus, was based upon drill results used for inverse distance squared
block model grade estimation within constraining mineralization and alteration
wireframes. In Q2, E2M commenced trading on the ASX Exchange following
completion of an initial public offering that raised AUD $6 million (see E2M
news release dated April 19, 2017).</P>
<P align=justify>During 2017, E2M conducted limited geologic work at Neavesville
while remaining focused on fulfilling statutory and filing requirements to keep
the license in good standing. </P>
<P align=justify><B>QLD Gold Property </B></P>
<P align=justify>EMX's license application for the QLD Gold project in
southeastern Queensland, Australia, was granted for a period of five years on
March 30, 2017. The project contains historic copper-zinc skarn prospects, as
well as a number of diorite hosted gold mineralized prospects. The QLD Gold
project is available for partnership. </P>
<P align=justify><B>Qualified Person </B></P>
<P align=justify>Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101
and employee of the Company, has reviewed, verified and approved the above
technical disclosure on Australia and New Zealand.</P>
<P align=justify><B><I><U>Haiti</U></I></B><B><I> </I></B></P>
<P align=justify>EMX's interests in Haiti have been converted into NSR
royalties. These royalty properties principally resulted from EMX and Newmont
Ventures Limited (collectively, the &#147;JV&#148; or "Joint Venture") exploring a land
position along a 130 kilometer trend of Haiti&#146;s Massif du Nord mineral belt
starting in 2008, with Newmont funding and managing the Joint Venture. In 2015,
EMX sold its Haiti Joint Venture interests, which covered six designated
exploration areas, to Newmont. Pursuant to the transaction, Newmont acquired all
of EMX's interest in the designated exploration areas on the following terms: a)
Newmont paid US$4 million in cash to EMX at closing, b) the Joint Ventures were
terminated, c) EMX retained a 0.5% NSR royalty on the 49 Research Permit
applications covering the designated exploration areas, and d) EMX retains the
right to acquire any properties proposed to be abandoned or surrendered by
Newmont. </P>
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<P align=justify>In 2016, EMX sold the Grand Bois project, which was outside the
Joint Venture with Newmont, to Sono Global Holdings Inc. ("Sono"), a privately
held Nevada corporation. EMX retained a 0.5% NSR royalty interest in the Grand
Bois project and the right to acquire any properties proposed to be abandoned or
surrendered from the Grand Bois project in the future. In Q3 2017, 3D Resources
Inc., an ASX listed company, announced that it had executed a definitive
agreement to acquire a 70% interest in Ayiti Gold Company SA, Sono's Haitian
entity holding the Grand Bois license (see 3D Resources news release dated
August 9, 2017). According to the agreement, 3D Resources must complete a
positive feasibility study, as well as fulfill other obligations, by September
15, 2018. </P>
<P align=justify>As EMX understands, the Haitian government continued working on
a new mining law during 2017, which has been under review since 2013 when the
Mining Convention process was suspended.</P>
<P align=justify><B>Qualified Person </B></P>
<P align=justify>Dean D. Turner, CPG, a Qualified Person as defined by NI 43-101
and consultant to the Company, has reviewed, verified and approved the above
technical disclosure on Haiti. </P>
<P align=justify><U>Strategic Investments</U> </P>
<P align=justify><B>IG Copper LLC</B> </P>
<P align=justify>EMX is a strategic investor in IGC, a privately held company
with exploration properties in Khabarovsk Krai of Russia's Far East Russia
region. IGC's projects include the Malmyzh copper-gold porphyry joint venture
with Freeport (51% IGC, 49% Freeport), which is operated and managed by IGC.
IGC&#146;s other exploration properties are 100% controlled by IGC and not subject to
the joint venture with Freeport. EMX was an early investor in IGC, and is its
largest shareholder, with approximately 41% of the issued and outstanding shares
(40% equity position on a fully-diluted basis) from investments totaling over
US$11 million. IGC is a material investment to the Company. </P>
<P align=right>52 </P>
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<P align=justify><I>Malmyzh Project </I></P>
<P align=justify>Malmyzh is a district-scale discovery with over 15 porphyry
copper-gold centers identified within a 16 by 5 kilometer intrusive corridor.
The project, which occurs 220 kilometers northeast of the Russia-China border at
Khabarovsk, has excellent logistical characteristics and available
infrastructure, including high voltage power lines, a natural gas pipeline, a
paved national highway, the Amur River, and a rail line that are all nearby to
the property. </P>
<P align=justify>The property&#146;s 152.8 square kilometers (15,280 hectares) of
exploration and mining licenses consist of: 1) HAB 02018 granted 9/18/2006 and
expiring 12/31/2026, and 2) HAB 02334 granted 7/23/2010 and expiring 12/31/2030.
The "Malmyzh Flanks" exploration license (HAB 02746 BP) was granted 10/26/2015,
expires 12/31/2022, and covers 74.1 square kilometers (7,410 hectares). The
total Malmyzh land position totals 226.9 square kilometers (22,690 hectares),
and includes additional areas for potential project development as well as
extensions to known exploration targets. IGC advises that the terms for the
licenses can be granted extensions. </P>
<P align=justify>Copper-gold mineralization occurs in diorite porphyry
intrusives, as well as in hornfels-altered and stockworked sedimentary wall
rocks, and consists of near-surface zones (i.e., within 1 to 50 meters of the
surface) of variable chalcocite enrichment grading into chalcopyrite-rich and
chalcopyrite-bornite-magnetite mineralization to depth. The extent of the
porphyry copper-gold mineralized systems has not been fully determined within
the Malmyzh district. Much of the property has more than 15 meters of cover and
is undrilled, thereby providing substantial exploration potential for additional
discoveries.</P>
<P align=justify>In 2015, a statement of inferred resources for Malmyzh's
Valley, Central, Freedom (Southeast), and Flats deposits under NI 43-101 and CIM
definition standards was provided by Phil Newall, PhD, BSc, CEng, FIMMM, a
Qualified Person under NI 43-101 and managing director of Wardell Armstrong
International ("WAI"), an independent UK based consulting company. The open pit
constrained inferred resources at a 0.30% copper equivalent cut-off are 1,661
million tonnes at average grades of 0.34% copper and 0.17 g/t gold, or 0.42%
copper-equivalent, containing 5.65 million tonnes (12.45 billion pounds) copper
and 9.11 million ounces gold, or 7.06 million tonnes (15.56 billion pounds)
copper-equivalent. Copper equivalent (CuEq) was calculated as CuEq = Cu% + (Au
g/t * 0.5) based on assumed prices of $3.25/lb Cu and $1400/oz Au, with
recoveries of 90% for Cu and 70% for Au.</P>
<P align=justify>At the time of WAI's 2015 resource estimate, project drilling
totaled about 70,500 meters in over 211 core holes, with the majority of the
drilling (~55,000 m) concentrated on defining the four resource deposits at
nominal 200 by 200 meter centers, and generally to less than 500 meters depth.
See EMX's May 26, 2015 news release and SEDAR filed technical report titled "NI
43-101 Technical Report on the Initial Mineral Resource Estimate for the Malmyzh
Copper-Gold Project, Khabarovsk Krai, Russian Federation" with an effective date
of May 1, 2015 and dated July 10, 2015 for more information on the exploration
results, QA/QC procedures, and methodology used to estimate the Malmyzh inferred
resources.</P>
<P align=right>53 </P>
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<P align=justify>The copper-gold mineralization in the Valley, Central, Freedom
(Southeast), and Flats resource deposits have favorable open-pit geometries with
potentially low stripping ratios. All four resource deposits are open at depth
(&gt; 350-600 m), and importantly, there are zones of shallow, higher grade
copper-gold mineralization at the Valley and Freedom (SE) deposits, and high
grade below the resource pit at Central. Furthermore, there is copper-gold
mineralization at the Freedom Northwest prospect not currently included in the
Malmyzh inferred resource estimate due to the need for in-fill drilling. </P>
<P align=justify>IGC advised that the Malmyzh joint venture had also advanced
Malmyzh in 2015 by receiving approval of the &#147;official on balance C1+C2
reserves&#148; from the GKZ (State Reserves Committee), the government agency
authorized to approve resources and reserves in the Russian Federation. The
Malmyzh &#147;official government approved reserves&#148; were estimated according to the
rules and regulations of the Russian Federation, and are not the same as
reserves under NI 43-101 or SEC Industry Guide 7. The GKZ &#147;official reserves&#148;
have been listed and added to the &#147;State Balance of Reserves&#148;. In addition, IGC
advised that the &#147;prospecting phase&#148; of the Malmyzh exploration and mining
licenses were successfully completed. Subsequently, the joint venture filed
documents to continue to the advanced exploration and mining phase of the
project's development as required for &#147;strategically significant&#148; deposits
according to Russian law (i.e., the Law on Foreign Investments in Strategic
Industries, also termed the Strategic Industries Law or "SIL"). </P>
<P align=justify>In 2016, IGC advised that SIL approval to advance the Malmyzh
project had been received from the Government Commission on Monitoring Foreign
Investment (the "Commission") (see EMX news release dated July 25, 2016).
According to IGC, highlights of the Commission's approval include: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>The Joint Venture, as a majority foreign owned business entity, has been
  approved to retain control of the Malmyzh project exploration and mining
  licenses. </P>
  <LI>
  <P>The Joint Venture, therefore, maintains mining and production rights for
  the Malmyzh and Malmyzh North exploration and mining licenses. </P>
  <LI>
  <P>The Joint Venture holds 100% of the rights for the Malmyzh and Malmyzh
  North exploration and mining licenses, and is entitled to recover all minerals
  of economic value including copper, gold and by-product minerals. </P></LI></UL>
<P align=justify>The conclusion of the SIL process initiated a new, multi-year
phase in the project's development. The Malmyzh team outlined plans and programs
which include additional technical work (i.e., drilling, exploration,
metallurgy, engineering, and hydrology), as well as environmental, social, and
economic assessments. This next phase of work will ultimately conclude as a
detailed "TEO of Permanent Conditions" report, which is considered to be a
precursor to commencement of exploitation and mining (<I>TEO is the acronym for
"Technico-Economicheskiye Obosnovaniye" which translates as Technical-Economic
Basis).</I></P>
<P align=justify>After receiving SIL approval, IGC commenced a reconnaissance
diamond drilling program in late 2016 at the Freedom Northwest, North, Sleeper
West, and Sleeper prospects totaling ten holes for 3,474.8 meters. After final
assays were received from IGC in early 2017, EMX announced the results in a
January 24, 2017 news release. The last hole of the program (AMM-213), drilled
at Freedom Northwest, provided particularly notable results, intersecting 747.4
meters (108.7 -856.1 m) averaging 0.49% copper equivalent (0.41% copper and 0.17
g/t gold) principally hosted in phreatomagmatic and magmatic hydrothermal
breccias (approximate true width in porphyry style mineralization). AMM-213 was
a vertical hole designed to commence in-fill of the 200 by 400 meter grid
pattern at Freedom Northwest, which is not currently included as a resource
deposit, to the 200 by 200 meter pattern used to delineate inferred resources.
The 747.4 meter intercept is the longest mineralized interval drilled at Malmyzh
to date. Further, the hole was terminated due to equipment limitations, and
bottomed in mineralization (1.4 m interval from 854.7 -856.1 m of 0.46% copper
equivalent from 0.32% copper and 0.29 g/t gold). The drilling at Sleeper West
and North prospects also returned encouraging results. </P>
<P align=justify>IGC's 2017 follow-up diamond drilling program at the Freedom
Northwest prospect totaled three holes (AMM-214, -215, and -216) for 2,437.6
meters. The results, as reported in an EMX news release dated July 25, 2017,
included an intercept of 417.3 meters (219.4 -636.7 m) averaging 0.60% copper
equivalent (0.50% copper and 0.21 g/t gold), with a higher grade subinterval of
142.6 meters (255.4 -398.0 m) averaging 0.74% copper equivalent (0.62% copper
and 0.26 g/t gold) from hole AMM-216 (approximate true widths). The copper-gold
mineralization in all three follow-up holes drilled in 2017 is principally
hosted in magmatic-hydrothermal breccias, and combined with earlier Freedom
Northwest drill results, suggests a broad, inferred outline of a pipe-like
breccia body with approximate dimensions of 800 x 800 meters in plan view, and a
vertical dimension of ~650 to over 850 meters. The interpreted breccia pipe
footprint generally coincides with a nearly circular magnetic anomaly defined
from IGC's high resolution ground magnetic surveys. </P>
<P align=justify>The 2017 exploration program at Freedom Northwest represents
the first deep drill testing at Malmyzh, as previous drilling was concentrated
on shallow mineralization throughout the district. In late 2017, IGC advised
that it drilled one hole each at the Freedom Southeast and Valley deposits,
totaling 1,045 meters, to provide sample material for proposed metallurgical
test work. IGC is planning further follow-up at Freedom Northwest in
2018 based upon the encouraging results from the initial phase of deep targeted
drilling. </P>
<P align=right>54 </P>
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<P align=justify>EMX is an investor in IGC, and as a result there are no direct
holding costs to the Company. Regarding the joint venture agreement, IGC and
Freeport fund at their respective level of ownership interest, or dilute. Should
either company dilute to less than a 10% interest, remaining ownership is
converted to a US$0.005 (one-half cent) per pound copper equivalent reserve
payment, which remains in effect through the life of mine. Freeport retains no
claw-back or NSR provisions. </P>
<P align=justify><I>Other IGC Projects </I></P>
<P align=justify>At year-end 2017, IGC also had 100% control of the 390 square
kilometer Shelekhovo and 260 square kilometer Salasinskaya exploration
properties, as well as the more recent Okchonskaya and Medvedzhe acquisitions.
At the Shelekhovo project, historic government exploration surveys identified
multiple occurrences of gold, silver, and copper associated with quartz veining
and alunite. IGC's 2017 reconnaissance exploration at Shelekhovo included
geochemical sampling that identified broad gold-in-soil anomalies (+20 ppb Au)
over the Predgornoe (~1500x1000 m) and Bistroe (400x400 m) prospects associated
with silicified material, as well as arsenic and copper anomalies. Salasinskaya
is considered to be the northern extension of the Shelekhovo anomaly cluster,
and underwent limited evaluation in 2017 according to IGC. Okchonskaya is a 96
square kilometer property situated directly west-southwest of Shelekhovo that is
characterized by gold anomalies and prospects identified from historic
government work. The 71.5 square kilometer Medvedzhe property is located 25
kilometers southeast of Malmyzh, and contains historic Soviet era geochemical
anomalies as well as host rocks similar to those at Malmyzh.</P>
<P align=justify>Further discussion of IGC&#146;s exploration results and EMX&#146;s due
diligence data verification and QA and QC procedures can be found in the
Company&#146;s May 26, 2015, January 24, 2017, and July 25, 2017 news releases, as
well as in the SEDAR filed Malmyzh Technical Report with an effective date of
May 1, 2015. </P>
<P align=justify><B>Revelo Resources Corp. </B></P>
<P align=justify>EMX has a strategic investment in Revelo Resources Corp.
("Revelo") (TSX-V:RVL), a company focused on the acquisition and exploration of
mineral properties in the prolific metallogenic belts of northern Chile. Revelo
has a portfolio of 19 exploration projects prospective for copper, gold and
silver, as well as royalty interests covering seven exploration properties.</P>
<P align=justify><B>Qualified Person </B></P>
<P align=justify>Dean D. Turner, CPG, a Qualified Person as defined by NI 43-101
and consultant to the Company, has reviewed, verified and approved the above
technical disclosure on Strategic Investments.</P>
<P align=justify><I>GEOTHERMAL ROYALTIES </I></P>
<P align=justify>EMX initiated a geothermal energy program in 2010, and acquired
assets in Slovakia and Peru. EMX subsequently sold its geothermal assets in 2013
to Starlight Geothermal Ltd. ("Starlight") for cash payments, an equity position
in Starlight, and gross royalties from future geothermal energy production. In
2017, Starlight advised that the geothermal concessions in Peru had been dropped
due to a lack of proactive government support to encourage development (i.e.,
favorable feed-in tariffs, etc.). Starlight also advised that the geothermal
concessions in Slovakia were maintained in 2017, with the potential for
advancement in 2018 assuming project financing is secured. </P>
<P align=justify><B><U>ITEM 5. OPERATING AND FINANCIAL REVIEW AND
PROSPECTS</U></B> </P>
<P align=justify><B><U>Years Ended December 31, 2017, 2016 and 2015</U></B></P>
<P align=justify><B>GENERAL </B></P>
<P align=justify>This discussion and analysis of financial position and results
of operations is prepared as at April 3, 2018 and should be read in conjunction
with the audited annual consolidated financial statements of the Company for the
years ended December 31, 2017, 2016 and 2015 and the related notes thereto. </P>
<P align=justify>The consolidated financial statements have been prepared in
accordance with International Financial Reporting Standards (&#147;IFRS&#148;) as issued
by the International Accounting Standards Board (&#147;IASB&#148;) and interpretations of
the International Financial Reporting Interpretations Committee (&#147;IFRIC&#148;).</P>
<P align=right>55 </P>
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<P align=justify>The Company<B> </B>and its subsidiaries operate as a royalty
and prospect generator engaged in exploring for, and generating royalties from,
metals and minerals properties. The Company&#146;s royalty and exploration portfolio
mainly consists of properties in North America, Turkey, Europe, Australia, and
New Zealand. See Item 4.D. &#147;Property, Plant and Equipment&#148;<I>.</I> </P>
<P align=justify>The Company&#146;s working capital position at December 31, 2017 was
$6,535,893. With its current plans for the year and the budgets associated with
those plans, in order to continue funding its administrative and royalty
generation programs from the date of this Form 20-F, management believes it will
require additional working capital to undertake it&#146;s current business plan. The
Company has incurred recurring losses and has an accumulated deficit of
$104,382,744. In order to maintain or adjust the capital structure, the Company
may issue new shares through public and/or private placements, sell assets, or
return capital to shareholders. These uncertainties may cast doubt upon the
Company&#146;s ability to continue as a going concern.</P>
<P align=justify>Some of the Company&#146;s activities for exploration and evaluation
assets are located in emerging nations and, consequently, may be subject to a
higher level of risk compared to other developed countries. Operations, the
status of mineral property rights and the recoverability of investments in
emerging nations can be affected by changing economic, legal, regulatory and
political situations. </P>
<P align=justify>At the date of these consolidated financial statements, the
Company has not identified a known body of commercial grade mineral on any of
its exploration and evaluation assets. The ability of the Company to realize the
costs it has incurred to date on these exploration and evaluation assets is
dependent upon the Company identifying a commercial mineral body, to finance its
development costs and to resolve any environmental, regulatory or other
constraints which may hinder the successful development of the exploration and
evaluation assets.</P>
<P align=justify>These consolidated financial statements of the Company are
presented in Canadian dollars unless otherwise noted, which is the functional
currency of the parent company and its subsidiaries except as to Bullion
Monarch, the holder of a royalty income stream whose functional currency is the
United States dollar. </P>
<P align=justify><B>DESCRIPTION OF BUSINESS</B></P>
<P align=justify>The Company is principally in the business of developing cash
flows from a) organically generated royalties derived from a portfolio of
mineral property interests and b) royalty acquisitions. These cash flows are
supplemented by upside from strategic investments. EMX&#146;s portfolio mainly
consists of properties in North America, Turkey, Europe, Haiti, Australia, and
New Zealand. These three key components of the Company's business model are
briefly summarized as: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P><B>Royalty Generation. </B>EMX's fourteen year track record of successful
  exploration initiatives has developed into an avenue to organically generate
  mineral property royalty interests and cash flows. The strategy is to leverage
  in- country geologic expertise to acquire prospective properties on open
  ground through license application or claim staking, and to build value
  through low cost work programs and targeting. These properties are sold to
  partner companies for retained royalty interests, advance minimum royalty
  payments, project milestone payments, and other considerations that may
  include equity interests. Pre-production payments provide early-stage cash
  flows to EMX, while the operating companies build value through exploration
  and development. EMX participates in project upside at no additional cost,
  with the potential for future royalty payments upon the commencement of
  production. </P>
  <LI>
  <P><B>Royalty Acquisition. </B>EMX has been pursuing the prudent acquisition
  of royalty property interests since 2011. The purchase of royalty interests
  allows EMX to choose quality assets for acquisition that range from producing
  mines to development properties. These purchases are designed to "jump start"
  the organic royalty portfolio growth process by providing EMX with immediate
  to near term royalty revenue. The timely identification of top tier
  acquisition candidates is often informed by the Company's in-country royalty
  generation initiatives. </P>
  <LI>
  <P><B>Strategic Investment. </B>An important complement to EMX's royalty
  generation and royalty acquisition initiatives comes from strategic investment
  in opportunities with under-valued mineral assets and upside exploration
  potential. Exit strategies can include royalty positions, equity sales, or a
  combination of both. As well, these investments can lead to the Company's
  identification of candidates for acquisition or merger. </P></LI></UL>
<P align=justify>EMX is focused on increasing global revenue streams from
royalties, advance royalties and other cash payments to balance overall
company-wide expenditures. This approach provides a foundation for supporting
EMX&#146;s growth and increasing shareholder value over the long term. </P>
<P align=right>56 </P>
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<P align=justify><B><U>5.A. Operating Results</U></B><B> </B></P>
<P align=justify><U>Year ended December 31, 2017, 2016, and 2015</U> </P>
<P align=justify>The net loss for the year ended December 31, 2017 (&#147;FY17&#148;) was
$7,393,384 compared to $2,683,482 for the prior year (&#147;FY16&#148;), and $6,875,857
for the year ended December 31, 2015 (&#147;FY15&#148;). The loss for FY17 was made up of
a net royalty income of $455,033 (FY16 &#150; Loss $47,265; FY15 &#150; Loss $187,773)
after depletion and related tax, net exploration expenditures of $4,471,074
(FY16 - $4,999,959; FY15 - $4,364,675), general and administrative expenditures
of $3,765,029 (FY16 - $3,220,339; FY15 - $3,535,534) and other losses totaling
$2,102,216 (FY16 &#150; Gain $4,144,749; FY15 - $2,219,105) offset by a deferred
income tax recovery of $2,489,902 (FY16 - $1,439,332; FY15 - $3,431,230). Key
items in &#147;other losses&#148; include; an impairment of royalty intersts in FY17 of
$Nil (FY16 - $Nil; FY15 - $3,973,699), a gain in FY17 on the sale of exploration
and evaluation assets of $1,305,237 (namely sale of Sweden properties to
Boreal), a gain of $6,834,999 (namely Akarca and Sisorta) in FY16, and a gain of
$5,393,305 in FY15 (namely sale of Haiti operations), a dilution gain on
associated companies of $503,543 (FY16 - $982,634; FY15 - $Nil), an equity loss
in associated companies of $994,548 (FY16 - $1,295,568; FY15 - $1,062,146), and
a write-down of goodwill of $2,709,239 (FY16 - $1,518,328; FY15 -
$3,047,605).</P>
<P align=justify><B><I>Revenues </I></B></P>
<P align=justify>In FY17, the Company earned $2,857,927 (FY16 - $2,227,322; FY15
- $1,609,553) of royalty income. This included royalty income earned for 1,308
(FY16 - 1,361; FY15 &#150; 1,096) ounces of gold totaling $2,114,236 (FY16 -
$2,227,322; FY15 - $1,609,553) and the settlement of prior year production
payments due totaling $298,132 (FY16 - $2,112; FY15 - $12,263) from the
Company's Leeville royalty property, as well as AMRs received. In FY17, the
average realized gold price for the Leeville royalty was US$1,255 per ounce,
which is comparable to the US$1,250 received for FY16, and US$1,160 for FY15.
Royalty income offset by gold tax and depletion of $2,402,894 (FY16 -
$2,274,587; FY15 - $1,797,326) for a net royalty gain of $455,033 (FY16 - loss
$47,265; FY15 &#150; loss $187,773). The increase in royalty income for 2017 was
mainly due to the settlement of prior year provisional gold ounces and AMR&#146;s
received from Turkish operations.</P>
<P align=justify><B><I>Exploration Expenditures </I></B></P>
<P align=justify>Exploration expenditures (gross) decreased by $81,414 in FY17
compared to FY16, and decreased by $466,731 in FY16 compared to FY15. Recoveries
increased by $447,471 in FY17 compared to FY16, and decreased by $168,553 in
FY16 compared to FY15 for a net decrease in exploration expenditures of $528,885
in FY17 compared to FY16, and a net increase in exploration expenditures of
$635,284 in FY16 compared to FY15. Some of the differences between FY17 and FY16
are as follows: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>In Scandinavia, gross expenditures increased by $553,902 compared to the
  prior period, and recoveries and option payments increased by $989,088 in
  2017. The increase was mainly due to additional land acquisition in the
  region. Recoveries and option payments related to recoveries from Boreal for
  work performed by EMX personnel, as well as $750,000 as the value of the
  Sienna shares (option payment related to sale of licenses). </P>
  <LI>
  <P>In the USA, gross expenditures increased from $3,342,206 to $3,878,815 and
  recoveries decreased from $886,872 to $666,932. The increase in expenditures
  is primarily a result of an increase in property holding costs. </P>
  <LI>
  <P>In Turkey, gross expenditures decreased by $974,765 due to the sale in FY16
  of Akarca and Sisorta. </P>
  <LI>
  <P>In the Asia Pacific region, net expenditures for 2017 totaled $305,574
  compared to net expenditures of $10,572 in 2016. The lower amount in FY16
  resulted from Option Payments of $180,476. </P></LI></UL>
<P align=justify><B><I>General and Administrative </I></B></P>
<P align=justify>General and administrative expenses (&#147;G&amp;A&#148;) of $3,765,029
were incurred compared to $3,220,339 in FY16, and $3,535,534 in FY15. G&amp;A
costs (before share-based payments) have decreased each year since 2012 as the
Company found ways to streamline and reduce the G&amp;A expenses of our
business. Some changes between FY17 and FY16 to note are:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>Investor relations increased by $114,256 in FY17 compared to FY16, and
  increased by $56,235 in FY16 compared to FY15. With the increase in market
  activity and interest in the mining sector, the Company attended more industry
  trade shows in FY17. The Company also re-branded in 2017, which included a new
  name, logo, website and corresponding marketing materials. </LI></UL>
<P align=right>57 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_60></A>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Professional fees increased by $153,762 in FY17 compared to FY16, and
  decreased by $63,534 from FY15 to FY16. Most of the increase in FY17 related
  to costs incurred on due diligence of potential royalty acquisitions. </P>
  <LI>
  <P>Salaries and consultants are one of the largest expense in G&amp;A. It
  should be noted that many of our personnel expenditures companywide are
  denominated in United States dollars (&#147;USD&#148;) and an increase or decrease in
  the value of the USD compared to the Canadian dollar, which is our reporting
  currency, will increase or decrease expenditures. Salaries and consultants
  increased in 2017 by $129,665 compared to FY16, and decreased by $66,942 in
  FY16 compared to FY15. The Company added to its management team with the
  hiring of a General Manager of Corporate Development in 2017. </P>
  <LI>
  <P>Share-based payments included in general and administrative expenses
  increased by $208,115 in FY17 compared to FY16 mainly due to the issuance of
  shares pursuant to employment agreements and other compensation agreements, as
  well as the fair value of RSU&#146;s vesting during FY17. </P></LI></UL>
<P align=justify><B><I>Other </I></B></P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>The Company recognized a net gain on the sale of certain exploration and
  evaluation assets during the year of $1,305,237 compared to $6,834,999 in the
  prior year, and $5,393,305 in FY15. In FY17, the gain on sale was the result
  of the Boreal transaction, offset by a small loss on the sale of EMX Australia
  Pty. In FY16 the gain resulted from the sale of two significant assets in
  Turkey including $6,683,560 related to the sale of AES to &#199;iftay, and the gain
  in FY15 resulted from the sale of certain Haitian interests to Newmont for a
  $5,277,542 (US $4,000,000). </P>
  <LI>
  <P>In FY15, as a result of the decline in the production of gold from the
  Carlin Trend Royalty Claim Block, and decrease in the realized gold prices,
  the Company revised its estimated annual gold production over the expected
  mine life and decreased its long term gold price forecast from US$1,300 to
  US$1,200 per ounce. As a result, the Company recorded $3,973,699 in impairment
  charges related to the Carlin Trend Royalty Claim Block and related assets
  that make up the same cash-generating unit (&#147;CGU&#148;). There was no comparable
  impairment recorded for FY17 or FY16. </P>
  <LI>
  <P>The Company applies a one-step approach to determine if the Carlin Trend
  Royalty Claim Block and the related assets within the same CGU are impaired.
  The impairment loss is the amount by which the CGU&#146;s carrying amount exceeds
  its recoverable amount. The loss is first applied to reduce the asset
  component if such indicators for impairment exist, and any excess to goodwill
  within the CGU. Since there was no impairment, the full amount went to
  Goodwill, and as a result, the Company has written down goodwill by $2,709,239
  (FY16 - $1,518,328; FY15 - $3,047,605). </P>
  <LI>
  <P>The Company recorded a deferred income tax recovery of $2,489,902 compared
  to $1,439,332 in FY16, and $3,431,230 in FY15, and a net decrease in deferred
  tax liabilities of $2,933,017 (FY16 - $1,748,562; FY15 - $1,715,656). A
  significant component of the deferred tax recovery and decrease in the related
  liability is the result of any impairment of the royalty interest partially
  offset by a cumulative translation loss as a result of the strengthening $USD
  compared to $CAD. The increase in the deferred income tax recovery for FY17
  compared to FY16 was mainly the result of a decrease in the long term expected
  federal tax rates for the US operations, which decreased from 35% to 21%.
  There was no impairment to the royalty interests in FY17 or FY16. </P>
  <LI>
  <P>The Company&#146;s share of the net loss related to its 41% (FY16 &#150; 39%; FY15 &#150;
  42%) equity investment in IGC for the year ended December 31, 2017 was
  $994,548 (FY16 - $1,295,568; FY15 - $1,062,146). In FY17, the Company also
  recorded a dilution gain of $503,543 (FY16 - $982,634; FY15 - $Nil) related to
  the Company&#146;s change in ownership interest in IGC. </P></LI></UL>
<P align=justify><B>SIGNIFICANT INVESTMENTS ACCOUNTED FOR BY THE EQUITY
METHOD</B> </P>
<P align=justify>The Company has a 41% (2016 &#150; 39%; 2015 &#150; 42%) equity
investment in IGC. At December 31, 2017, including the conversion of convertible
notes, cash purchases of shares, and interest on any balances due from IGC, the
Company has invested an aggregate of US$11,355,000 towards its investment (2016
- US$8,967,000; 2015 - $7,782,500). At December 31, 2017, the Company&#146;s
investment including dilution gains, less its share of accumulated equity losses
was $7,578,989 (2016 - $4,992,823; 2015 - $3,333,491). The Company&#146;s share of
the net loss for the year ended December 31, 2017 was $994,548 (2016 -
$1,295,568; 2015 - $1,062,146).</P>
<P align=right>58 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_61></A>
<P align=justify>The Company has a minority position on the Board of IGC, and
does not control operational decisions. The Company&#146;s judgment is that it has
significant influence, but not control and accordingly equity accounting is
appropriate. </P>
<P align=justify>As at December 31, 2017, associated companies&#146; aggregate
assets, aggregate liabilities and net loss for the year ended are as follows:
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>December </B><B>31, </B><B>2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="12%"><B>IGC</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Aggregate assets </TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>6,127,735 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Aggregate liabilities </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">(1,108,694</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Loss for the year </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>(2,713,490</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>The Company's ownership % </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">41% </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff>The Company's share of loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="12%"
    bgColor=#e6efff>(994,548</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>) </TD></TR></TABLE>
<P align=justify>As at December 31, 2016, associated companies&#146; aggregate
assets, aggregate liabilities and net loss for the year are as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>December </B><B>31, </B><B>2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="12%"><B>IGC</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Aggregate assets </TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>6,884,378 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Aggregate liabilities </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">(1,471,260</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Loss for the year </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>(3,216,120</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>The Company's ownership % </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">39% </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff>The Company's share of loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="12%"
    bgColor=#e6efff>(1,295,568</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>) </TD></TR></TABLE>
<P align=justify>As at December 31, 2015, associated companies&#146; aggregate
assets, aggregate liabilities and net loss for the year are as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>December </B><B>31,</B><B>2015</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="12%"><B>IGC</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Aggregate assets </TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>6,980,045 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Aggregate liabilities </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">(2,917,038</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Loss for the year </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>(2,515,741</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>The Company's ownership % </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">42% </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff>The Company's share of loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="12%"
    bgColor=#e6efff>(1,062,146</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>) </TD></TR></TABLE>
<P align=justify>During the year ended December 31, 2017, the Company recognized
a dilution gain of $503,543 (2016 - $982,634; 2015 - $Nil) related to the
Company&#146;s change in ownership percentage as a result of IGC&#146;s share issuance for
cash proceeds and loan conversions. </P>
<P align=justify><B>SELECTED ANNUAL INFORMATION</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>As </B><B>at</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=right width="12%"><B>December </B><B>31,
      </B><B>2017</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=right width="12%"><B>December </B><B>31,
      </B><B>2016</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=right width="12%"><B>December </B><B>31,
      </B><B>2015</B> </TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=right width="12%"><B>December </B><B>31,
      </B><B>2014</B> </TD>
  <TD style="BORDER-TOP: #000000 3px double; BORDER-BOTTOM: #000000 1px solid"
    align=left width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><B>Financial </B><B>positions</B></TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;Working capital </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="12%">6,535,893 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="12%">6,002,318 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="12%">5,787,109 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="12%">7,096,916 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp;Exploration and evaluation assets
      (net) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>1,841,966 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>2,145,000 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>2,381,540 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>2,379,886 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;Royalty interest </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">21,943,743 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">25,831,152 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">28,798,980 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">29,327,960 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp;Total assets </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>45,750,784 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>47,843,555 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>50,624,129 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>54,292,093 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;Share capital </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">124,062,091 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">117,504,585 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">117,000,052 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">116,766,102 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>&nbsp;Deficit </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(104,382,744</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(96,989,360</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(94,305,878</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(87,430,021</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%"><B>Year </B><B>ended</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%"><B>Year </B><B>ended</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%"><B>Year </B><B>ended</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%"><B>Year </B><B>ended</B> </TD>
  <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>December </B><B>31, </B><B>2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>December </B><B>31, </B><B>2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>December </B><B>31, </B><B>2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>December </B><B>31, </B><B>2014</B> </TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="12%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Financial </B><B>results</B> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="12%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="12%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="12%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=left width="12%">&nbsp; </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp;Royalty income </TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>2,857,927 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>2,227,322 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>1,609,553 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>2,247,334 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;Exploration expenditures (net) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">4,471,074 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">4,999,959 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">4,364,675 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">5,022,658 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp;Loss from operations </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>(7,781,070</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>(8,267,563</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>(8,087,982</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff>(868,619</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;Net loss for the year </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">(7,393,384</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">(2,683,482</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">(6,875,857</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="12%">(17,448,041</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>&nbsp;Net loss per share-basic and diluted </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(0.09</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(0.04</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(0.09</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>(0.24</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>) </TD></TR></TABLE>
<P align=right>59 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_62></A>
<P align=justify>The year ended December 31, 2017 saw an impairment charge of
$Nil (2016 - $Nil; 2015 - $3,973,699) on the royalty interests, a related
write-down of goodwill of $2,709,239 (2016 - $1,518,328; 2015 - $3,047,605), and
a recovery of $2,489,902 (2016 - $1,439,332; 2015 - $3,431,230) of deferred
income taxes, offset by a gain of $1,305,237 (2016 - $6,834,999; 2015 -
$5,393,305) on the acquisition and sale of exploration and evaluation assets,
and a dilution gain on associated companies of $503,543 (2016 - $982,634; 2015 -
$Nil) which have a significant impact on the net losses for the respective
fiscal years.<B> </B></P>
<P align=justify><B>OUTSTANDING SHARE DATA </B></P>
<P align=justify>As at April 3, 2018, the Company had 79,746,271 common shares
issued and outstanding. There were also 5,247,500 stock options outstanding with
expiry dates ranging from April 25, 2019 to August 28, 2022, and 2,623,306
warrants outstanding expiring on April 12, 2019. </P>
<P align=justify><B><I><U>Critical Accounting Policies and
Estimates</U></I></B></P>
<P align=justify>STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES</P>
<P align=justify><B>Statement of Compliance </B></P>
<P align=justify>These consolidated financial statements have been prepared in
accordance with IFRS as issued by the International Accounting Standards Board
(&#147;IASB&#148;) and interpretations of the International Financial Reporting
Interpretations Committee (&#147;IFRIC&#148;).</P>
<P align=justify>These consolidated financial statements have been prepared on a
historical cost basis, except for financial instruments classified as fair value
through profit or loss or available for sale, which are stated at their fair
value. In addition, these consolidated financial statements have been prepared
using the accrual basis of accounting except for cash flow information. </P>
<P align=justify><B>Summary of Significant Accounting Policies </B></P>
<P align=justify><B>Basis of Consolidation </B></P>
<P align=justify>The consolidated financial statements comprise the accounts of
EMX Royalty Corp., the parent company, and its controlled subsidiaries, after
the elimination of all significant intercompany balances and transactions. </P>
<P align=justify><I>Subsidiaries </I></P>
<P align=justify>Subsidiaries are all entities over which the Company has
exposure to variable returns from its involvement and has the ability to use
power over the investee to affect its returns. The existence and effect of
potential voting rights that are currently exercisable or convertible are
considered when assessing whether the Company controls another entity.
Subsidiaries are fully consolidated from the date on which control is
transferred to the Company until the date on which control ceases.</P>
<P align=justify>The accounts of subsidiaries are prepared for the same
reporting period as the parent company, using consistent accounting policies.
Inter-company transactions, balances and unrealized gains or losses on
transactions are eliminated. The Company&#146;s principal operating subsidiaries are
as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left ><B>Name</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="25%"><B>Place </B><B>of&nbsp;
      </B><B>Incorporation</B> </TD>
  <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="25%"><B>Ownership </B><B>Percentage</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Bullion Monarch Mining, Inc
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Utah, USA </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >EMX (USA) Services Corp. </TD>
    <TD align=left width="25%">Nevada, USA </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Bronco Creek Exploration Inc.
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Arizona, USA </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Eurasia Madencilik Ltd. Sirketi </TD>
    <TD align=left width="25%">Turkey </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Azur Madencilik Ltd. Sirketi
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Turkey </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Eurasian Minerals Cooperatief U.A. </TD>
    <TD align=left width="25%">Netherlands </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Eurasian Minerals Sweden AB
    </TD>
    <TD align=left width="25%" bgColor=#e6efff>Sweden </TD>
    <TD align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Viad Royalties AB </TD>
    <TD align=left width="25%">Sweden </TD>
    <TD align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left bgColor=#e6efff
    >Waikato Gold Limited </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="25%"
    bgColor=#e6efff>New Zealand </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="25%"
    bgColor=#e6efff>100% </TD></TR></TABLE>
<P align=right>60 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_63></A>
<P align=justify><B>Functional and Reporting Currency </B></P>
<P align=justify>The functional currency is the currency of the primary economic
environment in which the entity operates. The functional currency for the
Company and its subsidiaries is the Canadian dollar except the functional
currency of the operations of Bullion Monarch which is the US dollar. The
functional currency determinations were conducted through an analysis of the
consideration factors identified in IAS 21, The Effects of Changes in Foreign
Exchange Rates.</P>
<P align=justify><I>Translation of transactions and balances </I></P>
<P align=justify>Foreign currency transactions are translated into the
functional currency using the exchange rates prevailing at the dates of the
transactions or valuation where items are re-measured. Monetary assets and
liabilities denominated in foreign currencies are re-measured at the rate of
exchange at each financial position date. Foreign exchange gains and losses
resulting from the settlement of such transactions and from the translation at
period end exchange rates of monetary assets and liabilities denominated in
foreign currencies are recognized in profit or loss. </P>
<P align=justify>On translation of the entities whose functional currency is
other than the Canadian dollar, revenues and expenses are translated at the
exchange rates approximating those in effect on the date of the transactions.
Assets and liabilities are translated at the rate of exchange at the reporting
date. Exchange gains and losses, including results of re-translation, are
recorded in the foreign currency translation reserve. </P>
<P align=justify><B>Financial Instruments </B></P>
<P align=justify>All financial instruments are classified into one of the
following four categories: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Financial assets and financial liabilities at fair value
      through profit or loss (&#147;FVTPL&#148;)</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Financial assets and financial liabilities classified as
      FVTPL are acquired or incurred principally for the purpose of selling or
      repurchasing them in the near term. They are recognized at fair value
      based on market prices, with any resulting gains and losses reflected in
      profit or loss for the period in which they arise.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Held-to-maturity financial assets</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Held-to-maturity financial assets are non-derivative
      financial assets with fixed or determinable payments and fixed maturity
      that an entity has the positive intention and ability to hold to maturity.
      They are measured at amortized cost using the effective interest rate
      method less any impairment loss. A gain or loss is recognized in profit or
      loss when the financial asset is derecognized or impaired, and through the
      amortization process.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Available for sale financial assets</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Available for sale (&#147;AFS&#148;) financial assets are
      non-derivative financial assets that are designated as available for sale,
      or that are not classified as loans and receivables, held-to-maturity
      investments, or FVTPL. They are measured at fair value. Fair value is
      determined based on market prices. Equity instruments that do not have a
      quoted market price in an active market are measured at cost. Gains and
      losses are recognized directly in other comprehensive income (loss) until
      the financial asset is derecognized, at which time the cumulative gain or
      loss previously recognized in accumulated other comprehensive income
      (loss) is recognized in profit or loss for the period.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Loans and receivables and other financial
    liabilities</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Loans and receivables and other financial liabilities are
      measured at amortized cost, using the effective interest rate method less
      any impairment loss.</P></TD></TR></TABLE>
<P align=justify>The Company&#146;s financial instruments consist of cash and cash
equivalents, investments, receivables, restricted cash, reclamation bonds, notes
receivable, strategic investments, accounts payable and accrued liabilities, and
advances from joint venture partners. Unless otherwise noted the fair value of
these financial instruments approximates their carrying values. </P>
<P align=justify>Cash and cash equivalents are classified as loans and
receivables. Cash equivalents are held for the purpose of meeting short-term
cash commitments rather than for investment or other purposes. </P>
<P align=justify>Warrants held through investments are classified as derivative
financial assets at FVTPL and are accounted for at fair value. For warrants that
are not traded on an exchange, no market value is readily available. When there
are sufficient and reliable observable market inputs, a valuation technique is used; if no
such market inputs are available, the warrants are valued at intrinsic value,
which is equal to the higher of the market value of the underlying security less
the exercise price of the warrant, or zero. </P>
<P align=right>61 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_64></A>
<P align=justify>Investments (Marketable securities) classified as FVTPL are
measured at fair market value. Changes in fair value of FVTPL assets are
reflected in profit or loss in the period in which they occur. Changes in fair
value of AFS assets are reflected in accumulated other comprehensive income on
the statement of financial position until sold or if there is an other than
temporary impairment in value.</P>
<P align=justify>Reclamation bonds are classified as financial assets
held-to-maturity. </P>
<P align=justify>The Company classifies its restricted cash and certain
receivables as loans and receivables and its accounts payable and accrued
liabilities and advances from joint venture partners as other financial
liabilities. </P>
<P align=justify>Certain receivables related to the sale of Akarca are
considered to be derivative financial assets as they are subject to variations
in gold price per ounce on record date and final price received and are
accordingly classified as FVTPL. The derivative receivable is recorded at fair
value each period until final settlement occurs, with changes in fair value
reflected in profit or loss for the period in which they arise. </P>
<P align=justify><B>Impairment of Financial Assets </B></P>
<P align=justify>Financial assets are assessed for indicators of impairment at
the end of each reporting period. Financial assets are impaired when there is
objective evidence that, as a result of one or more events that occurred after
the initial recognition of the financial assets, the estimated future cash flows
of the financial assets have been impacted. </P>
<P align=justify>For all financial assets, objective evidence of impairment
could include: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>Significant financial difficulty of the issuer or counterparty;
  <LI>Default or delinquency in interest or principal payments; or,
  <LI>It becoming probable that the borrower will enter bankruptcy or financial
  re-organization. </LI></UL>
<P align=justify>For certain categories of financial assets that are assessed
not to be impaired individually, they are subsequently assessed for impairment
on a collective basis. The carrying amount of financial assets is reduced by the
impairment loss directly for all financial assets with the exception of
receivables, where the carrying amount is reduced through the use of an
allowance account. When a receivable is considered uncollectible, it is written
off against the allowance account. Subsequent recoveries of amounts previously
written off are credited against the allowance account. Changes in the carrying
amount of the allowance account are recognized in profit or loss. </P>
<P align=justify>With the exception of FVTPL marketable securities, if in a
subsequent period, the amount of the impairment loss decreases and the decrease
can be related objectively to an event occurring after the impairment was
recognized, the previously recognized impairment loss is reversed through profit
or loss to the extent that the carrying amount of the investment at the date the
impairment is reversed does not exceed what the amortized cost would have been
had the impairment not been recognized. In respect of AFS marketable securities,
impairment losses previously recognized through profit or loss are not reversed
through profit or loss. Any increase in fair value subsequent to an impairment
loss is recognized directly in equity.</P>
<P align=justify><B>Convertible Notes Receivable </B></P>
<P align=justify>The notes receivable are hybrid financial assets that consist
of a note receivable component and a separate equity conversion component. The
conversion feature is measured at fair value on initial recognition by
discounting the stream of future interest and principal payments at the rate of
interest prevailing at the date of the issue for instruments of similar term and
risk. Interest income based on the rate of the note will be receivable on
maturity are recognized through profit and loss as interest income. The equity
conversion option is an embedded derivative that has been separated from the
notes receivable and is valued based on residual value.</P>
<P align=justify><B>Investments in Associated Companies </B></P>
<P align=justify>The Company accounts for its long-term investments in
affiliated companies over which it has significant influence using the equity
basis of accounting, whereby the investment is initially recorded at cost,
adjusted to recognize the Company&#146;s share of earnings or losses and reduced by
dividends received. </P>
<P align=right>62 </P>
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<P align=justify>The Company assesses its equity investments for impairment if
there is objective evidence of impairment as a result of one or more events that
occurred after the initial recognition of the equity investment and that the
event or events has an impact on the estimated future cash flow of the
investment that can be reliably estimated. Objective evidence of impairment of
equity investments includes: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>Significant financial difficulty of the associated companies;
  <LI>Becoming probable that the associated companies will enter bankruptcy or
  other financial reorganization; or,
  <LI>National or local economic conditions that correlate with defaults of the
  associated companies. </LI></UL>
<P align=justify><B>Exploration and evaluation assets and exploration
expenditures </B></P>
<P align=justify>Acquisition costs for exploration and evaluation assets, net of
recoveries, are capitalized on a property-by-property basis. Acquisition costs
include cash consideration and the value of common shares, based on recent issue
prices, issued for exploration and evaluation assets pursuant to the terms of
the agreement. Exploration expenditures, net of recoveries, are charged to
operations as incurred. After a property is determined by management to be
commercially feasible, an impairment test is conducted and subsequent
development expenditures on the property will be capitalized.</P>
<P align=justify>When there is little prospect of further work on a property
being carried out by the Company or its partners, when a property is abandoned,
or when the capitalized costs are no longer considered recoverable, the related
property costs are written down to management&#146;s estimate of their net
recoverable amount. The costs related to a property from which there is
production, together with the costs of production equipment, will be depleted
and amortized using the unit-of-production method. </P>
<P align=justify>An exploration and evaluation asset acquired under an option
agreement, where payments are made at the sole discretion of the Company, is
capitalized at the time of payment. Option payments received are treated as a
reduction of the carrying value of the related acquisition cost for the mineral
property until the payments are in excess of acquisition costs, at which time
they are then credited to profit or loss. Option payments are at the discretion
of the optionee and, accordingly, are accounted for when receipt is reasonably
assured. </P>
<P align=justify><B>Revenue recognition </B></P>
<P align=justify>The Company recognizes revenue in accordance with <I>IAS 18
Revenue</I> and based upon amounts contractually due pursuant to the underlying
royalty agreements. Specifically, royalty revenue is recognized in accordance
with the terms of the underlying royalty agreements subject to (i) when
persuasive evidence of an arrangement exists; (ii) the risks and rewards of
ownership have been transferred; (iii) the royalty or stream being fixed or
determinable; and (iv) the collectability of the royalty being reasonably
assured. In some instances, the Company will not have access to sufficient
information to make a reasonable estimate of revenue and, accordingly, revenue
recognition is deferred until management can make a reasonable estimate. Royalty
revenue may be subject to adjustment upon final settlement of estimated metal
prices, weights, and assays. Adjustments to revenue from metal prices are
recorded monthly and other adjustments are recorded on final settlement and are
offset against revenue when incurred.</P>
<P align=justify><B>Royalty interests </B></P>
<P align=justify>Royalty interests in mineral properties include acquired
royalty interests in production stage and exploration stage properties. In
accordance with <I>IAS 38 Intangible Assets</I>, the cost of acquired royalty
interests in mineral properties is capitalized as intangible assets. </P>
<P align=justify>Acquisition costs of production stage royalty interests are
depleted using the units of production method over the life of the related
mineral property, which is calculated using estimated reserves. Acquisition
costs of royalty interests on exploration stage mineral properties, where there
are no estimated reserves, are not amortized. At such time as the associated
exploration stage mineral interests are converted to estimated reserves, the
cost basis is amortized over the remaining life of the mineral property, using
the estimated reserves. The carrying values of exploration stage mineral
interests are evaluated for impairment at such time as information becomes
available indicating that production will not occur in the future.</P>
<P align=justify><B>Goodwill </B></P>
<P align=justify>Goodwill represents the excess of the price paid for the
acquisition of a consolidated entity over the fair value of the net identifiable
tangible and intangible assets and liabilities acquired in a business
combination. Goodwill is allocated to the cash generating unit to which it
relates.</P>
<P align=right>63 </P>
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<P align=justify>Goodwill is evaluated for impairment annually or more often if
events or circumstances indicate there may be impairment. Impairment is
determined by assessing if the carrying value of a cash generating unit,
including the allocated goodwill, exceeds its recoverable amount.</P>
<P align=justify><B>Property and equipment </B></P>
<P align=justify>Property and equipment is recorded at cost. Buildings are
depreciated using a 5 year straightline method. Equipment is depreciated over
its estimated useful life using the declining balance method at a rate of 20%
per annum. Depreciation on equipment used directly on exploration projects is
included in exploration expenditures for that mineral property. </P>
<P align=justify><B>Decommissioning liabilities</B></P>
<P align=justify>Decommissioning liabilities are recognized for the expected
obligations related to the retirement of long-lived tangible assets that arise
from the acquisition, construction, development or normal operation of such
assets. A decommissioning liability is recognized in the period in which it is
incurred and when a reasonable estimate of the fair value of the liability can
be made with a corresponding decommissioning cost recognized by increasing the
carrying amount of the related long-lived asset. The decommissioning cost is
subsequently allocated in a rational and systematic method over the underlying
asset&#146;s useful life. The initial fair value of the liability is accreted, by
charges to profit or loss, to its estimated future value.</P>
<P align=justify><B>Environmental disturbance restoration </B></P>
<P align=justify>During the operating life of an asset, events such as
infractions of environmental laws or regulations may occur. These events are not
related to the normal operation of the asset and are referred to as
environmental disturbance restoration provisions. The costs associated with
these provisions are accrued and charged to profit or loss in the period in
which the event giving rise to the liability occurs. Any subsequent adjustments
to these provisions due to changes in estimates are also charged to profit or
loss in the period of adjustment. These costs are not capitalized as part of the
long-lived assets&#146; carrying value. </P>
<P align=justify><B>Impairment of assets </B></P>
<P align=justify>Events or changes in circumstances can give rise to significant
impairment charges or reversals of impairment in a particular year. The Company
assesses its cash generating units annually to determine whether any indication
of impairment exists. Where an indicator of impairment exists, an estimate of
the recoverable amount is made, which is the higher of the fair value less costs
to sell and value in use. The determination of the recoverable amount for value
in use requires the use of estimates and assumptions such as long-term commodity
prices, discount rates, future capital requirements, exploration potential and
future operating performance. Fair value is determined as the amount that would
be obtained from the sale of the asset in an arm&#146;s length transaction between
knowledgeable and willing parties.</P>
<P align=justify><B>Cash and cash equivalents </B></P>
<P align=justify>Cash and cash equivalents include cash on hand, bank deposits
and short-term, highly liquid investments that are readily convertible to known
amounts of cash. </P>
<P align=justify><B>Share-based payments </B></P>
<P align=justify>Share-based payments include option and stock grants granted to
directors, employees and non-employees. The Company accounts for share-based
compensation using a fair value based method with respect to all share-based
payments measured and recognized, to directors, employees and non-employees. For
directors and employees, the fair value of the options and stock grants is
measured at the date of grant. For non-employees, the fair value of the options
and stock are measured at the fair value of the goods or services received or
the fair value of the equity instruments issued, if it is determined the fair
value of the goods or services cannot be reliably measured, and are recorded at
the date the goods or services are received. For directors, employees and
non-employees, the fair value of the options and stock grants is accrued and
charged to operations, with the offsetting credit to share based payment reserve
for options, and commitment to issue shares for stock grants over the vesting
period. If and when the stock options are exercised, the applicable amounts are
transferred from share-based payment reserve to share capital. When the stock
grants are issued, the applicable fair value is transferred from commitment to
issue shares to share capital. Option based compensation awards are calculated
using the Black-Scholes option pricing model while stock grants are valued at
the fair value on the date of grant. </P>
<P align=justify>The Company has granted certain employees and non-employees
restricted share units (&#147;RSUs&#148;) to be settled in shares of the Corporation. The
fair value of the estimated number of RSUs that will eventually vest, determined
at the date of grant, is recognized as share-based compensation expense over the
vesting period, with a corresponding amount recorded as equity. </P>
<P align=right>64 </P>
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<P align=justify>The fair value of the RSUs is estimated using the market value
of the underlying shares as well as assumptions related to the market and
non-market conditions at the grant date. </P>
<P align=justify><B>Income taxes</B> </P>
<P align=justify>Income tax expense consists of current and deferred tax. Income
tax expense is recognized in profit or loss except to the extent that it relates
to items recognized directly in equity. Current tax is the expected tax payable
on the taxable income for the year, using tax rates enacted or substantively
enacted at the reporting date, and any adjustment to tax payable in respect of
previous years. Deferred tax is calculated providing for temporary differences
between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for taxation purposes. </P>
<P align=justify>Deferred tax is not recognized on the initial recognition of
assets or liabilities in a transaction that is not a business combination and
that affects neither accounting nor taxable income nor loss. In addition,
deferred tax is not recognized for taxable temporary differences arising on the
initial recognition of goodwill. Deferred tax is measured at the tax rates that
are expected to be applied to temporary differences when they reverse, based on
the laws that have been enacted or substantively enacted at the reporting date.
</P>
<P align=justify>Deferred tax assets and liabilities are offset if there is a
legally enforceable right to offset, and they relate to income taxes levied by
the same tax authority on the same taxable entity, or on different tax entities,
but they intend to settle current tax liabilities and assets on a net basis or
their tax assets and liabilities will be realized simultaneously. </P>
<P align=justify>A deferred tax asset is recognized to the extent that it is
probable that future taxable income will be available against which the
temporary difference can be utilized. Deferred tax assets are reviewed at each
reporting date and are reduced to the extent that it is no longer probable that
the related tax benefit will be realized. </P>
<P align=justify><B>Income (loss) per share </B></P>
<P align=justify>Basic income or loss per share is calculated by dividing the
net income or loss for the year by the weighted average number of shares
outstanding during the year. Diluted income or loss per share is calculated
whereby the weighted average number of shares outstanding used in the
calculation of diluted income or loss per share assumes that the deemed proceeds
received from the exercise of stock options, share purchase warrants and their
equivalents would be used to repurchase common shares of the Company at the
average market price during the year, if they are determined to have a dilutive
effect. </P>
<P align=justify>Existing stock options and share purchase warrants have not
been included in the current year computation of diluted loss per share as to do
so would be anti-dilutive. For the years presented the basic and diluted losses
per share are the same. </P>
<P align=justify><B>Valuation of equity units issued in private placements
</B></P>
<P align=justify>The Company has adopted a residual value method with respect to
the measurement of shares and warrants issued as private placement units. The
residual value method first allocates value to the more easily measurable
component based on fair value and then the residual value, if any, to the less
easily measurable component. </P>
<P align=justify>The fair value of the common shares issued in the private
placements was determined to be the more easily measurable component and were
valued at their fair value, as determined by the closing quoted bid price on the
day prior to the issuance date. The balance, if any, was allocated to the
attached warrants. Any fair value attributed to the warrants is recorded in
reserves. </P>
<P align=justify><B>Segment reporting </B></P>
<P align=justify>Operating segments are reported in a manner consistent with the
internal reporting provided to the chief operating decision-maker. The chief
operating decision-maker, who is responsible for allocating resources and
assessing performance of the operating segment, has been identified as the Chief
Executive Officer. </P>
<P align=justify><B>Accounting pronouncements not yet effective</B> </P>
<P align=justify>The following standards and pronouncements have been issued by
the IASB and have not yet been adopted by the Company.</P>
<P align=justify>IFRS 9 requires financial assets to be classified into three
measurement categories on initial recognition: those measured at fair value
through profit and loss, those measured at fair value through other
comprehensive income and those measured at amortized cost. Measurement and
classification of financial assets is dependent on the entity&#146;s business model
for managing the financial assets and the contractual cash flow
characteristics of the financial asset. For financial liabilities, the standard
retains most of the IAS 39 requirements. </P>
<P align=right>65 </P>
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<P align=justify>In May 2014, the IASB issued IFRS 15 Revenue from Contracts
with Customers ("IFRS 15"), which supersedes IAS 11 Construction Contracts, IAS
18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the
Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and
SIC 31 Revenue - Barter Transactions involving Advertising Services. IFRS 15
establishes a single five-step model framework for determining the nature,
amount, timing and uncertainty of revenue and cash flows arising from a contract
with a customer. The standard is effective for annual periods beginning on or
after January 1, 2018, with early adoption permitted.</P>
<P align=justify>IFRS 16 Leases was issued in January 2016 (effective January 1,
2019) and provides a single lessee accounting model, requiring lessees to
recognize assets and liabilities for all leases unless the lease term is 12
months or less or the underlying asset has a low value.</P>
<P align=justify>The Company expects that these new IFRS standards will have an
insignificant effect on its consolidated financial statements other than
increased note disclosure. </P>
<P align=justify><B>Critical Accounting Judgments and Significant Estimates and
Uncertainties </B></P>
<P align=justify>The preparation of the consolidated financial statements
requires management to make judgments and estimates and form assumptions that
affect the reported amounts of assets and liabilities at the date of the
financial statements, and the reported revenue and expenses during the periods
presented therein. On an ongoing basis, management evaluates its judgments and
estimates in relation to assets, liabilities, royalty revenues and expenses.
Management bases its judgments and estimates on historical experience and on
other various factors it believes to be reasonable under the circumstances.
Actual results may differ from these estimates under different assumptions and
conditions.</P>
<P align=justify>The Company has identified the following critical accounting
policies in which significant judgments, estimates and assumptions are made and
where actual results may differ from these estimates under different assumptions
and conditions and may materially affect financial results or the financial
position reported in future periods. Further details of the nature of these
assumptions and conditions may be found in the relevant notes to the
consolidated financial statements. </P>
<P align=justify><I>a)</I><I>&nbsp;&nbsp; </I><I>Royalty interest and related
depletion <BR></I>In accordance with the Company&#146;s accounting policy, royalty
interests are evaluated on a periodic basis to determine whether there are any
indications of impairment. If any such indication exists, a formal estimate of
recoverable amount is performed and an impairment loss recognized to the extent
that carrying amount exceeds recoverable amount. The recoverable amount of a
royalty asset is measured at the higher of fair value less costs to sell and
value in use. The determination of fair value and value in use requires
management to make estimates and assumptions about expected production and sales
volumes, the proportion of areas subject to royalty rights, commodity prices
(considering current and historical prices, price trends and related factors),
and reserves. These estimates and assumptions are subject to risk and
uncertainty; hence there is a possibility that changes in circumstances will
alter these projections, which may impact the recoverable amount of the assets.
In such circumstances, some or all of the carrying value of the assets may be
further impaired or the impairment charge reduced with the impact recorded in
profit or loss. </P>
<P align=justify><I>b)</I><I>&nbsp;&nbsp; </I><I>Goodwill <BR></I>Goodwill is
evaluated for impairment annually or more often if events or circumstances
indicate there may be impairment. Impairment is determined by assessing if the
carrying value of a cash generating unit, including the allocated goodwill,
exceeds its recoverable amount. The assessment of the recoverable amount used in
the goodwill impairment analysis is subject to similar judgments and estimates
as described above for property and equipment and royalty interests. </P>
<P align=justify><I>c)</I><I>&nbsp;&nbsp; </I><I>Exploration and Evaluation
Assets <BR></I>Recorded costs of exploration and evaluation assets are not
intended to reflect present or future values of exploration and evaluation
assets. The recorded costs are subject to measurement uncertainty and it is
reasonably possible, based on existing knowledge, that a change in future
conditions could require a material change in the recognized amount. </P>
<P align=justify><I>d)&nbsp; </I><I>&nbsp;</I><I>Taxation <BR></I>The Company&#146;s
accounting policy for taxation requires management&#146;s judgment as to the types of
arrangements considered to be a tax on income in contrast to an operating cost.
Judgment is also required in assessing whether deferred tax assets and certain
deferred tax liabilities are recognized on the statement of financial
position.</P>
<P align=justify>Deferred tax assets, including those arising from unused tax
losses, capital losses and temporary differences, are recognized only where it
is considered probable that they will be recovered, which is dependent on the
generation of sufficient future taxable profits. Deferred tax liabilities arising from
temporary differences caused principally by the expected royalty revenues
generated by the royalty property are recognized unless expected offsetting tax
losses are sufficient to offset the taxable income and therefore, taxable income
is not expected to occur in the foreseeable future. Assumptions about the
generation of future taxable profits depend on management&#146;s estimates of future
cash flows. These depend on estimates of future production and sales volumes,
commodity prices, and reserves. Judgments are also required about the
application of income tax legislation in foreign jurisdictions. These judgments
and assumptions are subject to risk and uncertainty, hence there is a
possibility that changes in circumstances will alter expectations, which may
impact the amount of deferred tax assets and deferred tax liabilities recognized
on the statement of financial position and the amount of other tax losses and
temporary differences not yet recognized. In such circumstances, some or the
entire carrying amount of recognized deferred tax assets and liabilities may
require adjustment, resulting in a corresponding credit or charge to profit or
loss.</P>
<P align=right>66 </P>
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<P align=justify>Information about critical judgments in applying accounting
policies that have the most significant effect on the amounts recognized in the
consolidated financial statements include, but are not limited to, the
following: </P>
<P align=justify><I>a)</I><I>&nbsp;&nbsp; </I><I>Functional Currencies
<BR></I>The functional currency of each of the Company&#146;s subsidiaries is the
currency of the primary economic environment in which the entity operates.
Determination of the functional currency may involve certain judgments to
determine the primary economic environment and the Company reconsiders the
functional currency of its entities if there is a change in events and
conditions, which determined the primary economic environment.</P>
<P align=justify><I>b)</I><I>&nbsp;&nbsp; </I><I>Classification of investments
as subsidiaries, joint ventures, associated company and portfolio
investments<BR></I>Classification of investments requires judgement as to
whether the Company controls, has joint control of or significant influence over
the strategic financial and operating decisions relating to the activity of the
investee. In assessing the level of control or influence that the Company has
over an investment, management considers ownership percentages, board
representation as well as other relevant provisions in shareholder agreements.
If an investor holds 20% or more of the voting power of the investee, it is
presumed that the investor has significant influence, unless it can be clearly
demonstrated that this is not the case. Conversely, if the investor holds less
than 20% of the voting power of the investee, it is presumed that the investor
does not have significant influence, unless such influence can be clearly
demonstrated. </P>
<P align=justify><B><U>5.B. Liquidity and Capital Resources</U></B></P>
<P align=justify>The Company considers items included in shareholders&#146; equity as
capital. The Company&#146;s objective when managing capital is to safeguard the
Company&#146;s ability to continue as a going concern, so that it can continue to
provide returns for shareholders and benefits for other stakeholders. </P>
<P align=justify>As at December 31, 2017, the Company had working capital of
$6,535,893 (2016 - $6,002,318). The Company has continuing royalty income that
will vary depending on royalty ounces received, the price of gold, and foreign
exchange rates on US royalty payments. The Company has granted 5,247,500 stock
options and 2,623,306 warrants which could generate additional cash if
exercised. The Company manages the capital structure and makes adjustments in
light of changes in economic conditions and the risk characteristics of the
underlying assets. The Company estimates it will need additional financing
within the next 12 months to undertake its current business plan. In order to
maintain or adjust the capital structure, the Company may issue new shares
through public and/or private placements, sell assets, or return capital to
shareholders. The Company is not subject to externally imposed capital
requirements.</P>
<P align=justify><B>Operating Activities </B></P>
<P align=justify>Cash used in operations was $3,441,424 for the year ended
December 31, 2017<B> </B>(2016 - $5,315,543) and represents expenditures
primarily on mineral property exploration and general and administrative expense
for both periods, offset by royalty income received in the year.</P>
<P align=justify><B>Financing Activities</B></P>
<P align=justify>During the year ended December 31, 2017, the Company completed
a non-brokered private placement for gross proceeds of $7,000,000 through the
sale of 5,000,000 units at a price of $1.40 per Unit. Each Unit will consisted
of one common share and one-half of one non-transferable share purchase warrant.
Each whole warrant entitles the holder to purchase one additional Share at a
price of $2.00 for a period of two years. The Company received $85,700 (2016 -
$127,800) from the exercise of stock option.</P>
<P align=justify><B>Investing Activities </B></P>
<P align=justify>Some of the significant investment activities during the year
ended December 31, 2017 are: </P>
<P align=right>67 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>-</TD>
    <TD align=left width="90%">The Company sold certain exploration assets in
      Sweden to Boreal for a gain of $1,393,224. </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>-</TD>
    <TD align=left width="90%">The Company advanced $1,405,277 to an
      associated company pursuant to a convertible loan agreement. </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>-</TD>
    <TD align=left width="90%">The Company received $86,543 from interest on
      cash and cash equivalents. </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>-</TD>
    <TD align=left width="90%">The Company purchased shares of an associated
      company in the amount of $2,059,631. </TD></TR></TABLE>
<P align=justify><B><U>5.C. Research and Development, Patents and Licenses,
etc.</U></B><B> </B></P>
<P align=justify>See subtopic &#147;Exploration Expenditures&#148; under &#147;Item 5.A.,
Operating Results&#148;.<B> </B></P>
<P align=justify><B><U>5.D. Trend Information</U></B><B> </B></P>
<P align=justify>See &#147;Property Overview&#148; under &#147;Item 5, Operating and Financial
Review and Prospects&#148;, and &#147;Other&#148; under &#147;Item 5.A., Operating Results&#148;. </P>
<P align=justify><B><U>5.E. Off-Balance Sheet Arrangements</U></B></P>
<P align=justify>The Company has no off-balance sheet arrangements. </P>
<P align=justify><B><U>5.F Tabular Disclosure of Contractual
Obligations</U></B></P>
<P align=justify>The Company has no Contractual Obligations. </P>
<P align=justify><B><U>ITEM 6. DIRECTORS, SENIOR MANAGEMENT, AND
EMPLOYEES</U></B> </P>
<P align=justify><B><U>6.A. Directors and Senior Management</U></B></P>
<P align=center><B>Directors and Senior Management </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD
    align=left bgcolor="#E6EFFF"
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"><BR>
      <BR><B>Name</B> </TD>
    <TD width="25%"
    align=left bgcolor="#E6EFFF" style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"><BR>
      <BR><B>Position</B> </TD>
    <TD width="25%"
    align=center bgcolor="#E6EFFF" style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"><BR>
      <BR><B>Age</B> </TD>
    <TD width="25%"
    align=right bgcolor="#E6EFFF"
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"><B>Date of</B> <BR>
      <B>First Election</B> <BR><B>Or
      Appointment</B> </TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD width="25%">&nbsp; </TD>
    <TD width="25%" align="center">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" width="25%">&nbsp; </TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD width="25%">&nbsp; </TD>
    <TD width="25%" align="center">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" width="25%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>David M. Cole </TD>
    <TD align=left width="25%">President, CEO, Director </TD>
    <TD align=center width="25%">56 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right
      width="25%">November 24, 2003 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Brian E. Bayley
      <SUP>(1)(2)(3)</SUP> </TD>
    <TD align=left width="25%">Director </TD>
    <TD align=center width="25%">65 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="25%">May
      13, 1996 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Brian K. Levet
      <SUP>(1)(2)</SUP> </TD>
    <TD align=left width="25%">Director </TD>
    <TD align=center width="25%">65 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="25%">March
      18, 2011 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Larry M. Okada
      <SUP>(1)(2)(3)</SUP> </TD>
    <TD align=left width="25%">Director </TD>
    <TD align=center width="25%">69 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="25%">June
      11, 2013 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Michael D. Winn
      <SUP>(3)</SUP> </TD>
    <TD align=left width="25%">Director and Chairman </TD>
    <TD align=center width="25%">56 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right
      width="25%">November 24, 2003 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Christina
      Cepeliauskas </TD>
    <TD align=left width="25%">Chief Financial Officer </TD>
    <TD align=center width="25%">54 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right
      width="25%">September 18, 2008 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Marien Segovia </TD>
    <TD align=left width="25%">Corporate Secretary </TD>
    <TD align=center width="25%">50 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right
      width="25%">February 27, 2018 </TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="25%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="25%">&nbsp;</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="25%">&nbsp;</TD></TR></TABLE></DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(1) </sup> </TD>
    <TD>
      <P align=justify>Member of Audit Committee</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(2) </sup> </TD>
    <TD>
      <P align=justify>Member of the Compensation Committee</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(3) </sup> </TD>
    <TD>
      <P align=justify>Member of Corporate Governance
Committee</P></TD></TR></TABLE>
<P align=justify><B><I><U>David M. Cole (President, CEO and
Director)</U></I></B><B><I> </I></B></P>
<P align=justify>Mr. Cole has over 25 years of industry experience, coming to
EMX Royalty Corp. from Newmont Mining Company. At Newmont, he held a number of
management and senior geologic positions, gaining extensive global experience as
a project, mine, and generative exploration geologist in Nevada, Southeast Asia,
South America, Europe, and Central Asia. Mr. Cole's success as part of Newmont's
exploration team includes contributions at the world class Carlin Trend,
Yanacocha, and Minahasa mines. Subsequently, he established and managed
Newmont's exploration programs in Turkey while also identifying early-stage
acquisition targets in Eastern Europe. Mr. Cole specializes in developing new
exploration ideas and opportunities, based upon solid technical expertise
coupled with a keen business sense. He studied under Dr. Tommy Thompson at
Colorado State University, earning an M.S. in Geology. </P>
<P align=right>68 </P>
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noShade SIZE=5>
<A name=page_71></A>
<P align=justify><B><I><U>Michael D. Winn (Director and
Chairman)</U></I></B><B><I> </I></B></P>
<P align=justify>Mr. Winn is President of Seabord Capital Corp., which provides
investment analysis and financial services to companies operating in the energy
and mining sectors. He is also President of Seabord Services Corp., a Canadian
company that provides management, administrative, and regulatory services to
private and public mining companies. Prior to starting Seabord Capital in
January 2013, Mr. Winn was President of Terrasearch Inc. (1997 to 2012) a
predecessor company to Seabord Capital. He also worked as an analyst for Global
Resource Investments Ltd. (1993 to 1997) where he specialized in the evaluation
of emerging oil and gas and mining companies. Mr. Winn has worked in the oil and
gas industry since 1983 and the mining industry since 1992, and is currently a
director and officer of several companies operating in Canada, Latin America,
Europe and Africa. Mr. Winn received a B.Sc. in Geology from the University of
Southern California. </P>
<P align=justify><B><I><U>Brian E. Bayley (Director)</U></I></B></P>
<P align=justify>Mr. Bayley is currently the President of Earlston Management
Corp., (private management company) since December 1996 and Executive Chairman
of Earlston Investments Corp., (private merchant bank) since January 2018.
Previously he held the following positions with Quest Capital Corp. (a
predecessor company to Sprott Resource Lending Corp.), a publicly traded
resource lending company listed on the TSX and NYSE: Director from June 2003 to
July 2013; Resource Lending Advisor from Sept. 2010 to June 2013; President and
Chief Executive Officer from May 2009 to September 2010; Co-Chairman From
January 2008 to May 2009; Chief Executive Officer from June 2003 to March 2008;
and President from June 2003 to January 2008. Mr. Bayley is also a director and
officer of several other public companies and holds an MBA from Queen&#146;s
University. </P>
<P align=justify><B><I><U>Brian K. Levet (Director)</U></I></B> </P>
<P align=justify>Mr. Levet draws on over 40 years of diversified executive and
management experience in mineral exploration, mine development and operations.
He began his career with Rio Tinto Rhodesia and Zimbabwe Iron and Steel Company.
The majority of Mr. Levet's career was with Newmont Mining Company (27 years),
retiring in 2011 as the Group Executive for Worldwide Exploration. His
distinguished career has been built upon a track record of team-oriented
discovery success, with a number of these discoveries currently in production.
He is recognized within the mining industry for exploration expertise and team
leadership that resulted in a number of major discoveries, including the Batu
Hijau and Elang copper-gold deposits in Indonesia, the North Lanut gold deposit
in North Sulawesi, Indonesia, the McPhillamys gold deposit in New South Wales,
Australia, as well as playing a significant role in the identification of
Yanacocha as a world-class gold mining camp. Mr. Levet has a B.Sc. in Geology
from the University of London.</P>
<P align=justify><B><I><U>Larry M. Okada (Director)</U></I></B> </P>
<P align=justify>Mr. Okada is a Chartered Professional Accountant in British
Columbia and Alberta, as well as a Certified Public Accountant in Washington
State. He has been in public practice with Deloitte LLP, his own firm, Okada
&amp; Partners, and PricewaterhouseCoopers LLP for over 35 years. For more than
30 years, the majority of Mr. Okada's clients have been public mining companies
listed on the TSX-V and TSE. Mr. Okada has extensive experience in accounting,
finance, and corporate governance. </P>
<P align=justify><B><I><U>Christina Cepeliauskas (Chief Financial
Officer)</U></I></B> </P>
<P align=justify>Ms. Cepeliauskas is a CPA, CGA professional accountant with
more than 20 years of financial accounting and treasury experience in the
mineral exploration and mining industry. She also has her ICD.D designation from
the Institute of Corporate Directors. She is currently the Chief Financial
Officer of EMX Royalty Corp. and Reservoir Capital Corp. and was formerly a
Director and Chairperson of the Audit Committee of Revelo Resources Corp. Ms.
Cepeliauskas also holds the volunteer position of Chair of the Governance
Committee of Fraserside Community Services Society, an organization committed to
helping people overcome challenges. </P>
<P align=justify><B><I><U>Marien Segovia (Corporate Secretary)</U></I></B> </P>
<P align=justify>Ms. Segovia has over 17 years of experience in the
administration of public companies. Prior to joining EMX Royalty Corp., Ms.
Segovia worked as Assistant Corporate Secretary at Great Panther Silver Limited
for four years. Previously, she provided corporate secretarial services to
several publicly traded companies and served as Corporate Secretary for
Silvermex Resources Inc. (acquired by First Majestic Silver Corp. in 2012).
Prior to that, Ms. Segovia spent 10 years at Silver Standard Resources providing
support as corporate and legal administrator. Ms. Segovia has a BA degree in
Business Information Systems and a Corporate &amp; Securities Paralegal
Certification. She is a Certified Spanish Translator and a Member of the B.C.
Society of Translators &amp; Interpreters. </P>
<P align=right>69 </P>
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noShade SIZE=5>
<A name=page_72></A>
<P align=justify>The Directors have served in their respective capacities since
their election and/or appointment and will serve until the next Annual General
Meeting or until a successor is duly elected, unless the office is vacated in
accordance with the Articles/ByLaws of the Company. </P>
<P align=justify>No Director and/or Senior Management had been the subject of
any order, judgment, or decree of any governmental agency or administrator or of
any court or competent jurisdiction, revoking or suspending for cause any
license, permit or other authority of such person or of any Company of which he
is a Director and/or Senior Management, to engage in the securities business or
in the sale of a particular security or temporarily or permanently restraining
or enjoining any such person or any Company of which he is an officer or
director from engaging in or continuing any conduct/practice/employment in
connection with the purchase or sale of securities, or convicting such person of
any felony or misdemeanor involving a security or any aspect of the securities
business or of theft or of any felony. </P>
<P align=justify>There are no family relationships between any two or more
Directors or Senior Management. </P>
<P align=justify>There are no arrangements or understandings with major
shareholders, customers, suppliers or others, pursuant to which any person
referred to above was selected as a director or member of senior management.</P>
<P align=justify><B><U>6.B. Compensation</U></B><B> </B></P>
<P align=justify><B>Compensation Discussion and Analysis</B> </P>
<P align=justify>The Compensation Committee of the Board is responsible for
ensuring that the Corporation has appropriate procedures for reviewing executive
compensation and making recommendations to the Board with respect to the
compensation of the Corporation&#146;s executive officers. The Compensation Committee
seeks to ensure that total compensation paid to all executive officers is fair
and reasonable and is consistent with the Corporation&#146;s compensation philosophy.
</P>
<P align=justify>The Compensation Committee is also responsible for recommending
compensation for the directors, stock options grants to the directors, officers,
employees and consultants pursuant to the Corporation&#146;s Stock Option Plan (the
&#147;<B>Option Plan</B>&#148;) and issuances of Common Shares to directors and officers
pursuant to the Corporation&#146;s Incentive Restricted Share Unit Plan (the &#147;<B>RSU
Plan</B>&#148;). Both the Option Plan and the RSU Plan assists the Corporation in
employee retention and cash preservation, while encouraging Common Share
ownership and entrepreneurship on the part of the Corporation&#146;s Named Executive
Officers (&#147;NEOs&#148;). </P>
<P align=justify>The Compensation Committee consists of Brian E. Bayley
(Chairman up to October 24, 2017), Brian K. Levet (Chairman as of October 24,
2017), and Larry M. Okada, all of whom are independent (outside, non-management)
directors. The Board is satisfied that the composition of the Compensation
Committee ensures an objective process for determining compensation. Each of the
members of the Committee has skills and direct experience relevant to his
responsibilities as a member of the Committee as follows: </P>
<P align=justify><B>Brian E. Bayley</B>: Mr. Bayley is experienced in the areas
of natural resource and real estate lending, corporate restructuring and
management and administration of public companies. He is the President of
Earlston Management Corp. (formerly called Ionic Management Corp.), a private
management company providing services to public and private companies. Mr.
Bayley has held active senior management positions in both private and public
natural resource companies and has over 30 years of public issuer experience as
both a director and an officer.</P>
<P align=justify><B>Brian K. Levet</B>: Mr. Levet has over 40 years of
diversified executive and management experience in mineral exploration, project
start-up and mine development and operation. He spent over 27 years with Newmont
Mining Company, most recently as the Group Executive for Worldwide Exploration,
from which he retired in 2011.</P>
<P align=justify><B>Larry M. Okada</B>: Mr. Okada is a Chartered Professional
Accountant in British Columbia and Alberta, as well as a Certified Public
Accountant in Washington State. He has been in public practice with Deloitte
LLP, his own firm, Okada &amp; Partners, and PricewaterhouseCoopers LLP for over
35 years. For more than 30 years, the majority of Mr. Okada's clients have been
public mining companies listed on the TSX-V and TSE. Mr. Okada has extensive
experience in accounting, finance, and corporate governance. </P>
<P align=justify><I>Philosophy and Objectives</I> </P>
<P align=justify>The philosophy used by the Compensation Committee and the Board
in determining compensation is that the compensation should:</P>
<P align=right>70 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_73></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>assist the Corporation in attracting and retaining high
      caliber executives;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>align the interests of executives with those of the
      Shareholders;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>reflect the executive&#146;s performance, expertise,
      responsibilities and length of service to the Corporation; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>reflect the Corporation&#146;s current state of development,
      performance and financial status.</P></TD></TR></TABLE>
<P align=justify><I>Risk Assessment </I></P>
<P align=justify>Under the direction of the Board, the Compensation Committee
evaluates the potential risks associated with Corporation&#146;s compensation
policies and practices. The Committee has not identified any risks arising from
the Corporation&#146;s compensation policies and practices which would have a
material adverse effect on the Corporation.</P>
<P align=justify>As outlined above in &#147;Philosophy and Objectives&#148; above, the
Compensation Committee evaluates and recommends to the Board compensation
strategies which align each NEO&#146;s goals and values with those of the
Shareholders and other stakeholders to ensure the Corporation&#146;s short and long
term goals are met without exposing the Corporation to unnecessary risk. The
Compensation Committee considers a mix of base salary, short term incentives and
long term incentives to attract high caliber executives sufficient to encourage
behaviour that leads to creation of long term value while limiting incentives
that might promote inappropriate risk-taking. </P>
<P align=justify>As part of the annual review of the compensation packages of
the Corporation&#146;s NEOs, the Compensation Committee identifies and if necessary
changes strategies to mitigate risks. The Committee considers several factors as
part of this review including retention of key employees; competitive salaries
within the context of peer companies, short term incentives linked to specific
goals as discussed below and long term incentives (stock options and Restricted
Share Unit&#146;s (&#147;RSU&#146;s&#148;) which link executive pay to real value creation and long
term share appreciation.</P>
<P align=justify><I>Compensation Hedging</I> </P>
<P align=justify>No NEO or director is permitted to purchase financial
instruments, including prepaid variable forward contracts, equity swaps,
collars, or units of exchange funds, designed to hedge or offset a decrease in
market value of equity securities granted as compensation or held, directly or
indirectly, by the NEO or director. </P>
<P align=justify><I>Compensation Components</I> </P>
<P align=justify>The compensation of the Corporation&#146;s NEOs is comprised
primarily of (i) base salary, (ii) annual short-term incentives in the form of
cash bonuses and stock grants under the RSU Plan, (iii) long-term incentives in
the form of performance related stock grants under the RSU Plan and stock
options granted under the Option Plan, and (iv) benefits related to health and
pension plans, such as United States 401(k) plans. </P>
<P align=justify>In determining the amounts payable under the various
compensation components, the Corporation also retains, from time to time, a
compensation consultant.</P>
<P align=justify><I>Lane Caputo Compensation Inc. Independent Executive
Compensation Report </I></P>
<P align=justify>In November 2016, the Compensation Committee retained Lane
Caputo Compensation Inc., independent Executive Compensation Specialists based
in Vancouver and Calgary to review and make recommendations regarding the
Corporation&#146;s compensation arrangements for its executive team and non-executive
directors and to recommend required changes (if any) to align pay elements
and/or strategy with both current market practices and the Company&#146;s business
strategy. The report containing Lane Caputo&#146;s recommendations (the &#147;<B>Lane
Caputo Report</B>&#148;) was used by the Compensation Committee to guide and assist
it in 2017 in establishing short and long term equity incentive programs
(&#147;<B>STIP</B>&#148; and &#147;<B>LTIP</B>&#148;) and compensation levels. To facilitate these
programs, the Board has adopted, and approval received from disinterested
Shareholders at the Corporation&#146;s Annual General Meeting held on May 17, 2017, a
Restricted Share Unit (&#147;<B>RSU</B>&#148;) plan.</P>
<P align=justify>The key components of the Lane Caputo Report are as
follows:</P>
<P align=justify>&nbsp;<U>Peer Group</U> </P>
<P align=justify>Standard compensation methodology involves benchmarking
compensation practices against a group of peer companies of similar size with
relevant operations in the same regional geography; the resulting peer group
then represents a realistic &#147;market&#148; against which to define the Company&#146;s compensation
strategy. </P>
<P align=right>71 </P>
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<A name=page_74></A>
<P align=justify>As the availability of cash flow tends to determine pay mix to
a certain extent, matching the development stages of peer companies is
particularly important. Whereas exploration-stage companies tend to rely more
heavily on equity-based compensation in order to focus the majority of available
cash on exploration activities, companies that have achieved a sustainable level
of commercial production, and have associated predictable cash flow levels,
gradually reduce their reliance on equity-based compensation in favor of cash
compensation. </P>
<P align=justify>Geographical similarity of peer companies allows for a more
accurate benchmarking of the skillsets required to manage international versus
domestic operations and reflects the additional time commitment often associated
with international operations. The inclusion of internationally-focused
companies can have an influence on pay practices due to the risk/reward profile
of international operations and the market for executives with international
operating experience. </P>
<P align=justify>The magnitude of executive compensation is closely correlated
to the size of organization the executive oversees; as such, compensation levels
are compared to companies that would be considered of relevant size to EMX. </P>
<P align=justify>Lane Caputo developed a peer group of mining companies based on
the parameters mentioned above against which they benchmarked the compensation
competitiveness of EMX&#146;s executive team members and non-executive directors. In
order to reflect EMX&#146;s unique business model, consideration was limited to
companies that have an element of royalty income or project generation as part
of their business strategy. The 19 companies in the peer group developed for the
review are: </P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Abitibi Royalties Inc. </TD>
    <TD align=left width="33%">Marathon Gold Corp. </TD>
    <TD align=left width="33%">Riverside Resources Inc. </TD></TR>
  <TR vAlign=top>
    <TD align=left>Almaden Minerals Ltd. </TD>
    <TD align=left width="33%">Millrock Resources Inc. </TD>
    <TD align=left width="33%">Sabina Gold &amp; Silver Corp. </TD></TR>
  <TR vAlign=top>
    <TD align=left>Altius Minerals Corp. </TD>
    <TD align=left width="33%">Mirasol Resources Ltd. </TD>
    <TD align=left width="33%">Sandstorm Gold Ltd. </TD></TR>
  <TR vAlign=top>
    <TD align=left>ATAC Resources Ltd. </TD>
    <TD align=left width="33%">NexGen Energy Ltd. </TD>
    <TD align=left width="33%">Solitario Exploration &amp; Royalty Corp.
</TD></TR>
  <TR vAlign=top>
    <TD align=left>AuRico Metals Inc. </TD>
    <TD align=left width="33%">NGEx Resources Inc. </TD>
    <TD align=left width="33%">Strategic Metals Ltd. </TD></TR>
  <TR vAlign=top>
    <TD align=left>Balmoral Resources Ltd. </TD>
    <TD align=left width="33%">Orex Minerals Inc. </TD>
    <TD align=left width="33%">Treasury Metals Inc. </TD></TR>
  <TR vAlign=top>
    <TD align=left>Corvus Gold Inc. </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD></TR></TABLE></DIV>
<P align=justify><U>Compensation Philosophy</U> </P>
<P align=justify>EMX&#146;s compensation philosophy is based on the fundamental
principles that the Company&#146;s compensation program should assist the Company in
attracting and retaining high caliber executives, align the interests of
executives with those of the shareholders, reflect the executive&#146;s performance,
expertise, responsibilities and length of service to the Company and reflect the
Company&#146;s current state of development, performance and financial status. Given
the skillsets required to execute the Company&#146;s complex business strategy, the
proposed positioning for each element of compensation under such a philosophy is
as follows: </P>
<P align=justify><B><U>Salary:</U></B> is based on relevant marketplace
information, experience, past performance and level of responsibility. For a
fully-qualified incumbent in a given position, EMX will target salary at the
75th percentile of the peer group to reflect the complexity of the multiple
aspects of the Corporation&#146;s business strategy. The Corporation may pay above or
below this target to reflect each incumbent&#146;s relative experience or performance
versus the market, or to reflect competitive market pressures for a given skill
set. </P>
<P align=justify><B><U>Short-Term Incentives:</U></B> awards are based on the
performance of the executive against predetermined individual performance
objectives and the performance of the Company against predetermined annual
corporate performance objectives. Target incentive levels (as a percentage of
salary) are established to maintain total cash compensation (salary + bonus) at
the 75th percentile of the market when performance is at target levels.
Incentive opportunity will have sufficient leverage that total cash compensation
(salary + bonus) can achieve top quartile levels of cash compensation when
performance warrants. In an effort to manage cash flow and/or provide executives
with more exposure to the company&#146;s stock, EMX may consider paying annual
incentives in Restricted Share Units, rather than cash. </P>
<P align=justify>As with any compensation plan, the Compensation Committee or
the Board as a whole should always have discretion to reward above, or below,
plan parameters when an individual or team has made an exceptional contribution
to the performance of the Company, or conversely, if the financial performance
of the company is above targeted levels for external market or economic
conditions despite poor operational performance of the management team. </P>
<P align=justify><B><U>Long-Term Incentives:</U></B> are a particularly
important component of compensation in the mining industry, as executives and employees need to be aligned with the risk/reward profile of
shareholders through participation in share price appreciation. The number of
stock options and other equity-based incentives granted annually to each
position is targeted at median levels in the peer group and should be sufficient
that, when combined with each position&#146;s other elements of compensation, will
allow total direct compensation to achieve upper quartile positioning for
superior share price performance.
</P>
<P align=right>72 </P>
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noShade SIZE=5>
<A name=page_75></A>
<P align=justify>Based on the Lane Caputo Report, the Compensation Committee
established the following compensation components for its 2017 financial year:
</P>
<P align=justify><U>Base Salary</U> <BR>In conjunction with the compensation
review and the establishment of the STIP and LTIP programs, David M. Cole, CEO,
agreed to decrease his annual cash salary from US$ 400,000 to US$ 325,000, to
further align his interests with the overall success of the Corporation. </P>
<P align=justify><U>Annual/Short Term Incentives</U> <BR>A structured incentive
program based on quantifiable corporate and personal goals and objectives that
are tied to the overall success of the Corporation and that are closely aligned
with the Corporation&#146;s business strategy has been established. The Compensation
Committee and the NEOs and other executive officers will develop meaningful, yet
attainable, targets for the following key performance indicators, which will be
measured over a one year period:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>Capital spent by third party partners
  <LI>Cash management
  <LI>Corporate Social Responsibility measures (both internal and 3rd party
  partner programs)
  <LI>New projects staked/acquired
  <LI>New exploration and option agreements </LI></UL>
<P align=justify>In conjunction with the adoption of a structured plan, annual
incentive levels to achieve the stated compensation philosophy are proposed as
follows: Minimum = 0% of base salary; Target = 15% of base salary; Maximum = 25%
of base salary.</P>
<P align=justify>2017 incentives to by paid under the STIP have yet to be
finalized. During the year, stock grants for 2016 success were granted to the
CEO and CFO. </P>
<P align=justify><U>Long-term Incentives</U> </P>
<P align=justify>As recommended in the Lane Caputo Report, a more robust LTIP
was implemented, with both Stock Options and performance related RSU&#146;s as key
components of the LTIP. Lane Caputo recommended a fixed number of awards
annually over the near-term, such that executives have maximum exposure to the
upside in the stock through their efforts as possible (a fair value, or
&#147;Black-Scholes&#146; approach requires a reduction in the number of incentives
awarded as the share price increases). EMX may ultimately need to move to a fair
value approach as the company grows. </P>
<P align=justify>Stock Options are generally granted on an annual basis subject
to the imposition of trading black-out periods, in which case options scheduled
for grant will be granted subsequent to the end of the black-out period. All
options granted to NEOs are recommended by the Compensation Committee and
approved by the Board. </P>
<P align=justify>The Corporation adopted a RSU Plan with the following
guidelines: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>Performance measured over a three year period, with the entire award
  vesting at the end of the performance period (known as &#147;cliff-vesting&#148;) to
  generate sufficient long-term incentive. </LI></UL>
<P align=justify>In order for RSUs to vest, the Participant must satisfy
performance criteria set each year by the Compensation Committee. For 2017, the
performance criteria were as follows: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Half of the RSU award is subject to the Company achieving cash flow
  neutrality in three years from January 1, 2017. </P>
  <LI>
  <P>Half of the RSU award is subject to Total Shareholder Return (&#147;TSR&#148;)
  performance relative to the S&amp;P/Global Gold Index as recommended by Lane
  Caputo. </P></LI></UL>
<P align=justify>The following relative TSR performance versus payout multiple
will apply to the 50% of RSU award that is subject to TSR: </P>
<P align=right>73 </P>
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noShade SIZE=5>
<A name=page_76></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#187; </TD>
    <TD align=left width="90%" >Below-median Performance (0 &#150;
      49<SUP>th </SUP>percentile): 0% of RSU&#146;s vest </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#187; </TD>
    <TD align=left width="90%" >3<SUP>rd </SUP>Quartile
      Performance (50<SUP>th </SUP>percentile &#150; 74<SUP>th </SUP>percentile):
      100% of RSU&#146;s vest </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#187; </TD>
    <TD align=left width="90%" >Upper Quartile Performance
      (75<SUP>th </SUP>percentile &#150; 100<SUP>th </SUP>percentile): 200% of RSU&#146;s
      vest </TD></TR></TABLE>
<P align=justify>On August 28, 2017, stock options and RSU&#146;s were granted to
NEOs of the Corporation. See Summary Compensation Table below for details. </P>
<P align=justify>The fees charged by Lane Caputo during the Company&#146;s 2017, 2016
and 2015 financial years were as follows: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF" ><B>Nature of Fee </B></TD>
    <TD width="22%" align=center bgcolor="#E6EFFF"><B>2017 </B></TD>
    <TD width="22%" align=center bgcolor="#E6EFFF"><B>2016 </B></TD>
    <TD width="22%" align=center bgcolor="#E6EFFF"><B>2015 </B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >Executive Compensation-Related Fees </TD>
    <TD align=center width="22%">$48,000 </TD>
    <TD align=center width="22%">Nil </TD>
    <TD align=center width="22%">Nil </TD></TR>
  <TR vAlign=top>
    <TD align=left >All Other Fees </TD>
    <TD align=center width="22%">Nil </TD>
    <TD align=center width="22%">Nil </TD>
    <TD align=center width="22%">Nil </TD></TR></TABLE></DIV>
<P align=justify><U>Cash Compensation </U></P>
<P align=justify>The following table contains a summary of the compensation paid
to the Directors and NEOs during the last three financial years. </P>
<P align=center><B>Summary Compensation Table </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD rowSpan=3 align=center vAlign=center bgcolor="#E6EFFF" ><B>Name and
      Principal </B><B>Position </B></TD>
    <TD colspan="4" rowSpan=2 align=center vAlign=center bgcolor="#E6EFFF" ><B>Annual
      Compensation </B></TD>
    <TD colspan="2" align=center vAlign=center bgcolor="#E6EFFF"><B>Long-Term
      </B><BR>
      <B>Compensation </B><BR></TD>
    <TD colspan="2" rowSpan=2 align=center vAlign=center bgcolor="#E6EFFF"></TD>
    </TR>
  <TR vAlign=top>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF">&nbsp; &nbsp;<B>Awards </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>Payouts </B></TD>
  </TR>
  <TR vAlign=top>
    <TD width="6%" align=center vAlign=center bgcolor="#E6EFFF" ><B>Year </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>Salary </B><B>$ </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>STIP </B><B>Payouts </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>Other </B><B>Annual
      </B><STRONG>Compensation </STRONG><B>$ </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>Securities </B><B>Under
      </B><B>Options/SARs </B><B>Granted </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>Bonus </B><B>Shares or
      </B><B>Restricted </B><B>Share Units </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>LTIP </B><B>Payouts </B><B>$
      </B></TD>
    <TD width="11%" align=center vAlign=center bgcolor="#E6EFFF"><B>All Other </B><B>Comp.
      </B><B>$ </B></TD>
  </TR>
  <TR vAlign=top>
    <TD vAlign=center align=left >David M. Cole <BR>President
      &amp; CEO </TD>
    <TD vAlign=center align=center width="6%" >2017 <BR>2016
      <BR>2015 </TD>
    <TD vAlign=center align=center width="11%">478,853 <BR>529,738 <BR>516,280    </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">14,019<SUP>(2) </SUP><BR>14,046
      <SUP>2) </SUP><BR>13,549<SUP>(2) </SUP></TD>
    <TD vAlign=center align=center width="11%">200,000 <BR>150,000 <BR>150,000    </TD>
    <TD vAlign=center align=center width="11%">100,000<SUP>(1) </SUP><BR>Nil
      <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left >Michael D. Winn <BR>Chairman
      &amp; Director </TD>
    <TD vAlign=center align=center width="6%" >2017 <BR>2016
      <BR>2015 </TD>
    <TD vAlign=center align=center width="11%">77,882 <BR>79,228 <BR>76,692</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">100,000 <BR>75,000 <BR>75,000    </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left >Christina Cepeliauskas
      <SUP>(3)<BR></SUP>CFO </TD>
    <TD vAlign=center align=center width="6%" >2017 <BR>2016
      <BR>2015 </TD>
    <TD vAlign=center align=center width="11%">86,250 <BR>86,250 <BR>86,250</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">75,000 <BR>55,000 <BR>55,000</TD>
    <TD vAlign=center align=center width="11%">37,500 <SUP>(1) </SUP><BR>Nil
      <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left >Brian E. Bayley <BR>Director</TD>
    <TD vAlign=center align=center width="6%" >2017 <BR>2016
      <BR>2015 </TD>
    <TD vAlign=center align=center width="11%">24,000 <BR>24,000 <BR>24,000</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">75,000 <BR>50,000 <BR>50,000</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left >Brian K. Levet <BR>Director </TD>
    <TD vAlign=center align=center width="6%" >2017 <BR>2016
      <BR>2015 </TD>
    <TD vAlign=center align=center width="11%">24,000 <BR>24,000 <BR>24,000</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">75,000 <BR>50,000 <BR>50,000</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left >Larry M. Okada <BR>Director </TD>
    <TD vAlign=center align=center width="6%" >2017 <BR>2016
      <BR>2015 </TD>
    <TD vAlign=center align=center width="11%">24,000 <BR>24,000 <BR>24,000</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">75,000 <BR>50,000 <BR>50,000</TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left >Kim
      Casswell<SUP>(3)(4)<BR></SUP>Former Corporate Secretary </TD>
    <TD vAlign=center align=center width="6%" >2017 <BR>2016
      <BR>2015 </TD>
    <TD vAlign=center align=center width="11%">29,800 <BR>29,800 <BR>3,150 </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">30,000 <BR>30,000 <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
    <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil </TD>
  <TD vAlign=center align=center width="11%">Nil <BR>Nil <BR>Nil  </TD></TR></TABLE>
</DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(1) </sup> </TD>
    <TD>
      <P align=justify>RSUs granted under the Company&#146;s RSU Plan on August 28,
      2017. The vesting date and payout date for RSUs is January 1, 2020,
      subject to performance criteria.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(2) </sup> </TD>
    <TD>
      <P align=justify>For officers and employees in the United States, the
      Company pays 4% of the annual salary each year to the officer or
      employees&#146; 401(k) retirement plan effective January 1,
  2012.</P></TD></TR></TABLE>
<P align=right>74 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(3) </sup> </TD>
    <TD>
      <P align=justify>Pursuant to a Management Services Agreement between the
      Company and Seabord Services Corp. (&#147;Seabord&#148;), Ms. Cepeliauskas&#146; and Ms.
      Casswell&#146;s remuneration is paid by Seabord.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(4) </sup> </TD>
    <TD>
      <P align=justify>Ms. Casswell was Corporate Secretary of the Company from
      November 13, 2015 to February 27, 2018.</P></TD></TR></TABLE>
<P align=justify>The following Stock Options were granted to directors and NEOs
during the fiscal year ended December 31, 2017: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center bgcolor="#E6EFFF"><BR>
      <BR><BR><B>Name</B> <BR><BR></TD>
    <TD width="12%" align=center bgcolor="#E6EFFF" ><BR>
      <B>Number</B> <BR><B>Of</B>
      <BR><B>Options</B> <BR><B>Granted</B> <BR></TD>
    <TD width="12%" align=center bgcolor="#E6EFFF" ><BR>
      <B>% of</B>
      <BR><B>Total</B> <BR><B>Options</B> <BR><B>Granted</B> <BR></TD>
    <TD width="12%" align=center bgcolor="#E6EFFF" ><BR>
      <B>Exercise</B>
      <BR><B>Price</B> <BR><B>Per</B> <BR><B>Share</B> <BR></TD>
    <TD width="14%" align=center bgcolor="#E6EFFF"><BR>
      <BR><B>Grant</B> <BR><B>Date</B>
    <BR><BR></TD>
    <TD width="14%" align=center bgcolor="#E6EFFF"><BR>
      <BR><B>Expiration</B> <BR><B>Date</B>
      <BR><BR></TD>
    <TD width="15%" align=center bgcolor="#E6EFFF" ><B>Mkt. Value of</B>
      <BR>
      <B>Securities</B> <BR><B>Underlying</B> <BR><B>Options on</B>
      <BR><B>Date of</B> <BR><B>Grant</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>David M. Cole </TD>
    <TD align=center width="12%" >200,000 </TD>
    <TD align=center width="12%" >13.6% </TD>
    <TD align=center width="12%" >$1.20 </TD>
    <TD align=center width="14%">August 28, 2017 </TD>
    <TD align=center width="14%">August 28, 2022 </TD>
    <TD align=center width="15%" >$1.20 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Michael D. Winn </TD>
    <TD align=center width="12%" >100,000 </TD>
    <TD align=center width="12%" >6.8% </TD>
    <TD align=center width="12%" >$1.20 </TD>
    <TD align=center width="14%">August 28, 2017 </TD>
    <TD align=center width="14%">August 28, 2022 </TD>
    <TD align=center width="15%" >$1.20 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Christina Cepeliauskas </TD>
    <TD align=center width="12%" >75,000 </TD>
    <TD align=center width="12%" >5.1% </TD>
    <TD align=center width="12%" >$1.20 </TD>
    <TD align=center width="14%">August 28, 2017 </TD>
    <TD align=center width="14%">August 28, 2022 </TD>
    <TD align=center width="15%" >$1.20 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Brian E. Bayley </TD>
    <TD align=center width="12%" >75,000 </TD>
    <TD align=center width="12%" >5.1% </TD>
    <TD align=center width="12%" >$1.20 </TD>
    <TD align=center width="14%">August 28, 2017 </TD>
    <TD align=center width="14%">August 28, 2022 </TD>
    <TD align=center width="15%" >$1.20 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Brian K. Levet </TD>
    <TD align=center width="12%" >75,000 </TD>
    <TD align=center width="12%" >5.1% </TD>
    <TD align=center width="12%" >$1.20 </TD>
    <TD align=center width="14%">August 28, 2017 </TD>
    <TD align=center width="14%">August 28, 2022 </TD>
    <TD align=center width="15%" >$1.20 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Larry M. Okada </TD>
    <TD align=center width="12%" >75,000 </TD>
    <TD align=center width="12%" >5.1% </TD>
    <TD align=center width="12%" >$1.20 </TD>
    <TD align=center width="14%">August 28, 2017 </TD>
    <TD align=center width="14%">August 28, 2022 </TD>
    <TD align=center width="15%" >$1.20 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Kim Casswell </TD>
    <TD align=center width="12%" >30,000 </TD>
    <TD align=center width="12%" >2% </TD>
    <TD align=center width="12%" >$1.20 </TD>
    <TD align=center width="14%">August 28, 2017 </TD>
    <TD align=center width="14%">August 28, 2022 </TD>
    <TD align=center width="15%" >$1.20
</TD></TR></TABLE></DIV>
<P align=justify>The following RSUs were granted to NEOs during the fiscal year
ended December 31, 2017: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center vAlign=center bgcolor="#E6EFFF"><B>Name</B> </TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF"><B>Number</B> <BR>
      <B>of</B>
      <BR><B>RSUs</B> <BR><B>Granted</B> </TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF" ><STRONG>Date of
      Grant</STRONG> </TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF"><B>Vesting Period /</B>
      <BR>
      <B>Vesting Date</B> </TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF"><B>Expiration Date /</B>
      <BR>
    <B>Payout Date</B> </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>David M. Cole </TD>
    <TD vAlign=center align=center width="20%">100,000 </TD>
    <TD vAlign=center align=center width="20%" >August 28, 2017
    </TD>
    <TD vAlign=center align=center width="20%">3 years / <BR>January 1, 2020
    </TD>
    <TD vAlign=center align=center width="20%">January 1, 2020 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Christina Cepeliauskas </TD>
    <TD vAlign=center align=center width="20%">37,500 </TD>
    <TD vAlign=center align=center width="20%" >August 28, 2017
    </TD>
    <TD vAlign=center align=center width="20%">3 years / <BR>January 1, 2020
    </TD>
    <TD vAlign=center align=center width="20%">January 1, 2020
</TD></TR></TABLE></DIV>
<P align=justify><B>Outstanding Share-Based and Option-Based Awards</B></P>
<P align=justify>The following table sets out all option-based and share-based
awards outstanding for each Director and NEO as at December 31, 2017. </P>
<P align=right>75 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD rowSpan=2 align=center vAlign=center bgcolor="#E6EFFF"><B>Name</B> </TD>
    <TD colspan="4" align=center vAlign=center bgcolor="#E6EFFF"> &nbsp;<B>Option-based
      Awards</B>  </TD>
    <TD colspan="3" align=center vAlign=center bgcolor="#E6EFFF"><B>Share-based Awards
      (RSUs)</B> </TD>
    </TR>
  <TR vAlign=top>
    <TD width="12%" align=center vAlign=center bgcolor="#E6EFFF"><BR>
      <B>Number of</B>
      <BR><B>Securities</B> <BR><B>Underlying</B> <BR><B>Unexercised</B>
      <BR><B>options</B> <BR><B>(vested-</B> <BR><B>unvested)</B> <BR></TD>
    <TD width="12%" align=center vAlign=center bgcolor="#E6EFFF"><BR>
      <BR><BR><B>Option</B>
      <BR><B>Exercise</B> <BR><B>price</B> <BR><B>($ per</B> <BR><B>share)</B>
      <BR></TD>
    <TD width="12%" align=center vAlign=center bgcolor="#E6EFFF"><BR>
      <BR><BR><BR><B>Option</B>
      <BR><B>Expiration</B> <BR><B>date</B> <BR><B>(m/d/y)</B> <BR></TD>
    <TD width="12%" align=center vAlign=center bgcolor="#E6EFFF"><BR>
      <BR><B>Value of</B>
      <BR><B>unexercised</B> <BR><B>&#147;in-the-</B> <BR><B>money&#148;</B>
      <BR><B>options</B><B><SUP>(1)</SUP></B> <BR><B>($)</B> <BR></TD>
    <TD width="12%" align=center vAlign=center bgcolor="#E6EFFF"><B>Number of</B> <BR>
      <B>shares
      or</B> <BR><B>units</B> <BR><B>of shares</B> <BR><B>that</B> <BR><B>have
      not</B> <BR><B>vested</B> <BR><B>(#)</B> <BR></TD>
    <TD width="12%" align=center vAlign=center bgcolor="#E6EFFF"><BR>
      <B>Market or</B>
      <BR><B>payout</B> <BR><B>value of</B> <BR><B>share-based</B> <BR><B>awards
      that</B> <BR><B>have not</B> <BR><B>vested</B><B><SUP>(3)</SUP></B>
      <BR><B>($)</B> </TD>
    <TD width="12%" align=center vAlign=center bgcolor="#E6EFFF"><BR>
      <BR><B>Market or</B>
      <BR><B>payout value of</B> <BR><B>shares vested</B> <BR><B>but not
      paid</B> <BR><B>out</B> <BR><B>($)</B> <BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>David M. Cole </TD>
    <TD vAlign=center align=center width="12%">200,000 &#150; 0 <BR>150,000 - 0
      <BR>150,000 - 0 <BR>150,000 - 0 </TD>
    <TD vAlign=center align=center width="12%">1.20 <BR>1.30 <BR>0.66 <BR>1.20    </TD>
    <TD vAlign=center align=center width="12%">8/28/2022 <BR>10/18/2021
      <BR>6/8/2020 <BR>4/25/2019 </TD>
    <TD vAlign=center align=center width="12%">0 <BR>0 <BR>555,000 <BR>0 </TD>
    <TD vAlign=center align=center width="12%">100,000<B><SUP>(2)</SUP></B>
      <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">103,000 <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Christina Cepeliauskas </TD>
    <TD vAlign=center align=center width="12%">75,000 - 0 <BR>55,000 - 0
      <BR>55,000 - 0 <BR>55,000 - 0 </TD>
    <TD vAlign=center align=center width="12%">1.20 <BR>1.30 <BR>0.66 <BR>1.20    </TD>
    <TD vAlign=center align=center width="12%">8/28/2022 <BR>10/18/2021
      <BR>6/8/2020 <BR>4/25/2019 </TD>
    <TD vAlign=center align=center width="12%">0 <BR>0 <BR>20,350 <BR>0 </TD>
    <TD vAlign=center align=center width="12%">37,500<B><SUP>(2)</SUP></B>
      <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">38,625 <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Michael D. Winn </TD>
    <TD vAlign=center align=center width="12%">75,000 - 0 <BR>75,000 - 0
      <BR>75,000 - 0 <BR>100,000 - 0 </TD>
    <TD vAlign=center align=center width="12%">1.20 <BR>1.30 <BR>0.66 <BR>1.20    </TD>
    <TD vAlign=center align=center width="12%">8/28/2022 <BR>10/18/2021
      <BR>6/8/2020 <BR>4/25/2019 </TD>
    <TD vAlign=center align=center width="12%">0 <BR>0 <BR>27,750 <BR>0 </TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Brian E. Bayley </TD>
    <TD vAlign=center align=center width="12%">50,000 - 0 <BR>50,000 - 0
      <BR>50,000 - 0 <BR>75,000 - 0 </TD>
    <TD vAlign=center align=center width="12%">1.20 <BR>1.30 <BR>0.66 <BR>1.20    </TD>
    <TD vAlign=center align=center width="12%">8/28/2022 <BR>10/18/2021
      <BR>6/8/2020 <BR>4/25/2019 </TD>
    <TD vAlign=center align=center width="12%">0 <BR>0 <BR>18,500 <BR>0 </TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Brian K. Levet </TD>
    <TD vAlign=center align=center width="12%">50,000 - 0 <BR>50,000 - 0
      <BR>50,000 - 0 <BR>75,000 - 0 </TD>
    <TD vAlign=center align=center width="12%">1.20 <BR>1.30 <BR>0.66 <BR>1.20    </TD>
    <TD vAlign=center align=center width="12%">8/28/2022 <BR>10/18/2021
      <BR>6/8/2020 <BR>4/25/2019 </TD>
    <TD vAlign=center align=center width="12%">0 <BR>0 <BR>18,500 <BR>0 </TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Larry M. Okada </TD>
    <TD vAlign=center align=center width="12%">50,000 - 0 <BR>50,000 - 0
      <BR>50,000 - 0 <BR>75,000 - 0 </TD>
    <TD vAlign=center align=center width="12%">1.20 <BR>1.30 <BR>0.66 <BR>1.20    </TD>
    <TD vAlign=center align=center width="12%">8/28/2022 <BR>10/18/2021
      <BR>6/8/2020 <BR>4/25/2019 </TD>
    <TD vAlign=center align=center width="12%">0 <BR>0 <BR>18,500 <BR>0 </TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Kim Casswell </TD>
    <TD vAlign=center align=center width="12%">5,000 - 0 <BR>30,000 - 0
      <BR>30,000 - 0 </TD>
    <TD vAlign=center align=center width="12%">1.20 <BR>1.30 <BR>1.20 </TD>
    <TD vAlign=center align=center width="12%">8/28/2022 <BR>10/18/2021
      <BR>4/25/2019 </TD>
    <TD vAlign=center align=center width="12%">0 <BR>0 <BR>0 </TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil <BR><BR></TD>
    <TD vAlign=center align=center width="12%">Nil
<BR><BR></TD></TR></TABLE>
</DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(1) </sup> </TD>
    <TD>
      <P align=justify>The closing price of the Company&#146;s common shares on the
      TSX-V on December 31, 2017 was $1.03.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(2) </sup> </TD>
    <TD>
      <P align=justify>RSUs granted under the Company&#146;s RSU Plan on August 28,
      2017. The vesting date and payout date for RSUs granted on August 28,
      2017, is January 1, 2020, subject to performance criteria.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(3) </sup> </TD>
    <TD>
      <P align=justify>The Company valued the RSUs at the market value of the
      Company&#146;s common shares on the TSX-V on December 31, 2017, being the
      closing price of $1.03 per share.</P></TD></TR></TABLE>
<P align=justify><U>Director Compensation</U>.</P>
<P align=justify>The fees payable to the independent directors of the Company
are for their services as directors and as members of committees of the Board as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Board or</B> </TD>
    <TD align=center width="25%"><B>Annual Retainer</B> </TD>
    <TD align=center width="25%"><B>Meeting Stipend</B> </TD>
    <TD align=center width="25%"><B>Per diem fees</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Committee
      Name</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>($)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>($)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>($)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Board of Directors </TD>
    <TD align=center width="25%" bgColor=#e6efff>24,000 </TD>
    <TD align=center width="25%" bgColor=#e6efff>Nil </TD>
    <TD align=center width="25%" bgColor=#e6efff>Nil </TD></TR></TABLE>
<P align=right>76 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_79></A>
<P align=justify>Directors are entitled to reimbursement for reasonable travel
and other out-of-pocket expenses incurred in connection with attendance at
meetings of the Board of Directors.</P>
<P align=justify><U>Change of Control Remuneration</U>. </P>
<P align=justify><I>Chief Executive Officer </I></P>
<P align=justify>The Company is a party to an employment agreement with David M.
Cole, President and CEO of the Company, effective June 1, 2017. Under the
agreement, Mr. Cole receives US$ 325,000 per year. The agreement may be
terminated by the Company without reason by written notice and a lump sum
payment equal to 24 months of salary and benefits and all unvested stock options
and grants. Mr. Cole may terminate the agreement for any reason upon two months&#146;
notice to the Company during which time he will continue to receive his usual
remuneration and benefits. </P>
<P align=justify>If Mr. Cole&#146;s agreement is terminated or his duties and
responsibilities are materially changed within 6 months following a change in
control of the Company, he is entitled to receive a lump sum payment equal to 24
months of his salary and benefits and all unvested stock options and grants.</P>
<P align=justify><I>Other Executive Officers </I></P>
<P align=justify>The Company has not entered into another employment or
consulting contracts with its other Executive Officers. </P>
<P align=justify>For the purposes of this section, &#147;<B>Change of control</B>&#148;
means an event occurring after the effective date of this agreement pursuant to
which: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify>a merger, amalgamation, arrangement, consolidation,
      reorganization or transfer takes place in which securities of EMX
      possessing more than 50% of the total combined voting power of the EMX&#146;s
      outstanding voting securities are acquired by a person or persons (other
      than one or more members of the EMX Group) different from the person
      holding those voting securities immediately prior to such event, and the
      composition of the Board of Directors of EMX or following such event is
      such that EMX&#146;s directors prior to the transaction constitute less than
      50% of the Board membership following the event; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify>any person (other than a member of the EMX Group), or any
      combination of persons (none of which is a member of the EMX Group) acting
      jointly or in concert by virtue of an agreement, arrangement, commitment
      or understanding acquires, directly or indirectly, 50% or more of the
      voting rights attached to all outstanding voting securities or the right
      to appoint a majority of the directors of EMX ; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">c) </TD>
    <TD>
      <P align=justify>EMX sells, transfers or otherwise disposes of all or
      substantially all of its assets, except that no Change of Control will be
      deemed to occur if such sale or disposition is made to a member of the EMX
      Group.</P></TD></TR></TABLE>
<P align=justify><U>Bonus/Profit Sharing/Non-Cash Compensation</U>. Except for
the Company&#146;s short-term and long-term incentive programs discussed in Item
6.B., the Company had no material bonus or profit sharing plans pursuant to
which cash or non-cash compensation is or may be paid to the Company's Directors
or Senior Management. </P>
<P align=justify><U>Pension/Retirement Benefits</U>. For the officers and
employees in the United States, the Company pays 4% of the annual salary each
year to the officer or employees&#146; 401(k) retirement plan effective January 1,
2012. </P>
<P align=justify><B><U>6.C. Board Practices</U></B></P>
<P align=justify><B><U>6.C.1. Terms of Office</U></B><B>.<BR></B>Refer to Item
6.A.1. </P>
<P align=justify><B><U>6.C.2. Directors&#146; Service Contracts</U></B><B>.</B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>6.C.3. Board of Director Committees.</U></B></P>
<P align=justify><B><I><U>Audit Committee</U></I></B><B><I> </I></B></P>
<P align=justify>The Company has an Audit Committee, which recommends to the
Board of Directors the engagement of the independent auditors of the Company and
reviews with the independent auditors the scope and results of the Company&#146;s
audits, the Company&#146;s internal accounting controls, and the professional
services furnished by the independent auditors to the Company. The current
members of the Audit Committee are: Brian E. Bayley, Brian K. Levet and Larry M.
Okada (Chairman). The Audit Committee met four times during Fiscal year 2017.
The Company&#146;s Audit Committee Charter sets out its mandate and responsibilities,
and is attached as Exhibit 15.4 to this Annual Report. See Item 19 &#150; &#147;Exhibits&#148;. </P>
<P align=right>77 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_80></A>
<P align=justify><B><I><U>Compensation Committee</U></I></B></P>
<P align=justify>The Compensation Committee is responsible for the review of all
compensation paid (including stock options granted under the Option Plan and
Common Shares issued under the Stock Grant Program) by the Company to the Board,
officers and employees of the Company and any subsidiaries, to report to the
Board on the results of those reviews and to make recommendations to the Board
for adjustments to such compensation. The current members of the Compensation
Committee are: Brian K. Levet (Chairman), Brian E. Bayley and Larry M. Okada.
</P>
<P align=justify><B><I><U>Corporate Governance Committee</U></I></B></P>
<P align=justify>The Corporate Governance Committee is responsible for advising
the Board of the appropriate corporate governance procedures that should be
followed by the Company and the Board and monitoring whether they comply with
such procedures. The current members of the Corporate Governance Committee are:
Michael Winn (Chairman), Brian E. Bayley and Larry M. Okada. </P>
<P align=justify>The Corporate Governance Committee evaluates the effectiveness
of the Board and its committees. To facilitate this evaluation, each committee
will conduct an annual assessment of its performance, consisting of a review of
its Charter, the performance of the committee as a whole and will submit a
Committee Annual Report to the Corporate Governance Committee, including
recommendations. In addition, the Board will conduct an annual review of its
performance. </P>
<P align=justify><B><U>6.D. Employees/ Consultants</U></B></P>
<P align=justify>As of December 31, 2017, EMX had 39 employees and consultants
working at various locations throughout the world.</P>
<P align=justify>As of April 3, 2018, the Chief Financial Officer and Corporate
Secretary are based in Vancouver, Canada. The President &amp; CEO is based in
the Company&#146;s office in Littleton, Colorado through the Company&#146;s wholly-owned
subsidiary, EMX USA. There are eight employees located in Arizona including
seven geologists and one office manager. The Company has one consultant in
Haiti, one consultant in Australia, 2 consultants in Turkey and 3 consultants in
Scandinavia.</P>
<P align=justify>See Item 6 &#150; &#147;Directors, Senior Management &amp; Employees&#148; for
a description of their job responsibilities.</P>
<P align=justify><B><U>6.E. Share Ownership</U></B><B> </B></P>
<P align=justify>The table below lists, as of April 3, 2018, Directors and
Senior Management who beneficially own the Company's voting securities,
consisting solely of Common Shares, and the amount of the Company's voting
securities owned by the Directors and Senior Management as a group. </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD colspan="4"
    align=center bgcolor="#E6EFFF"
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid">Shareholdings of Directors and Senior Management
      <BR>
      Shareholdings of 5% Shareholders <BR></TD>
    </TR>
  <TR vAlign=top>
    <TD align=center
    vAlign=center bgcolor="#E6EFFF" style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid">Title of Class </TD>
    <TD
    width="30%" align=center vAlign=center bgcolor="#E6EFFF" style="BORDER-BOTTOM: #000000 1px solid">Name of Beneficial Owner </TD>
    <TD
    width="20%" align=center vAlign=center bgcolor="#E6EFFF" style="BORDER-BOTTOM: #000000 1px solid" >Amount and Nature of <BR>
      Beneficial Ownership</TD>
    <TD width="20%" align=center
    vAlign=center bgcolor="#E6EFFF"
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" >Percent of
      Class<SUP>(1) </SUP></TD>
  </TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD width="30%">&nbsp; </TD>
    <TD width="20%" >&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" width="20%"
      >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Common </TD>
    <TD align=left width="30%">David M. Cole <SUP>(2) </SUP></TD>
    <TD align=right width="20%" >2,757,496 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="20%"
    >3.46% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Common </TD>
    <TD align=left width="30%">Michael D. Winn <SUP>(3) </SUP></TD>
    <TD align=right width="20%" >1,290,208 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="20%"
    >1.62% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Common </TD>
    <TD align=left width="30%">Christina Cepeliauskas <SUP>(4) </SUP></TD>
    <TD align=right width="20%" >526,500 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="20%"
    >0.66% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Common </TD>
    <TD align=left width="30%">Brian E. Bayley <SUP>(5) </SUP></TD>
    <TD align=right width="20%" >411,375 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="20%"
    >0.52% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Options </TD>
    <TD align=left width="30%">Brian K. Levet <SUP>(6) </SUP></TD>
    <TD align=right width="20%" >425,000 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="20%"
    >0.53% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Common </TD>
    <TD align=left width="30%">Larry M. Okada <SUP>(7) </SUP></TD>
    <TD align=right width="20%" >240,000 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=right width="20%"
    >0.30% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left>Common </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="30%">Paul
      H. Stephens <SUP>(8) </SUP></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="20%"
    >15,408,491 </TD>
  <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=right width="20%" >19.32%</TD></TR></TABLE>
</DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(1) </sup> </TD>
    <TD>
      <P align=justify>Based on 79,746,271 shares outstanding as of April 3,
      2018.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(2) </sup> </TD>
    <TD>
      <P align=justify>Of these shares, 1,065,015 are represented by currently
      exercisable share purchase options, warrants and RSUs.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(3) </sup> </TD>
    <TD>
      <P align=justify>Of these shares, 457,100 are represented by currently
      exercisable share purchase options and warrants.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(4) </sup> </TD>
    <TD>
      <P align=justify>Of these shares, 367,500 are represented by currently
      exercisable share purchase options and RSUs.</P></TD></TR></TABLE>
<P align=right>78 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_81></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(5) </sup> </TD>
    <TD>
      <P align=justify>Of these shares, 225,000 are represented by currently
      exercisable share purchase options.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(6) </sup> </TD>
    <TD>
      <P align=justify>Of these shares, 425,000 are represented by currently
      exercisable share purchase options.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(7) </sup> </TD>
    <TD>
      <P align=justify>Of these shares, 230,000 are represented by currently
      exercisable share purchase options and warrants.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%"><sup>(8) </sup> </TD>
    <TD>
      <P align=justify>Of these shares, nil are represented by currently
      exercisable share purchase options.</P></TD></TR></TABLE>
<P align=justify><U>Restricted Share Unit Plan</U> </P>
<P align=justify>The RSU Plan was approved by shareholders at the Annual General
Meeting of the Company on May 17, 2017. </P>
<P align=justify>The RSU Plan provides that restricted share units
(&#147;<B>RSUs</B>&#148;) may be granted by the Board, based on the advice of the
Compensation Committee, to officers, directors and employees of, and consultants
to, the Corporation (&#147;<B>Eligible Persons</B>&#148;) as a discretionary payment in
consideration for significant contributions to the short-term (one year or less)
and long-term (one to three years) successes of the Corporation. The Board may,
in its sole discretion, set vesting conditions on RSUs granted to Eligible
Persons, which conditions will be primarily based on the performance criteria
set by the Compensation Committee. </P>
<P align=justify>Pursuant to the RSU Plan, the aggregate maximum number of
Common Shares reserved for issuance under the RSU Plan in combination with the
aggregate number of Common Shares issuable under all of the Corporation&#146;s other
equity incentive plans in existence from time to time, including the Option
Plan, shall not exceed 10% of the issued and outstanding Common Shares.</P>
<P align=justify>In addition, the RSU Plan provides that the number of Common
Shares which may be issuable under the RSU Plan and all of the Corporation's
other previously established or proposed share compensation arrangements,
including the Option Plan, within a 12 month period, to: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>any one Eligible Person shall not exceed 5% of the total
      number of issued and outstanding Common Shares on the date of the grant on
      a non-diluted basis unless the Corporation has obtained the approval of
      Shareholders who are not Insiders (&#147;<B>Disinterested Shareholders</B>&#148;),
      which approval is not being sought;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Insiders as a group within a 12 month period shall not
      exceed 10% of the total number of issued and outstanding Common Shares on
      a non-diluted basis unless the Corporation has obtained the approval of
      Disinterested Shareholders, which approval is also not being sought;
      and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>any one consultant, or Eligible Person engaged in
      providing investor relations services to the Corporation, shall not exceed
      2% in the aggregate of the total number of issued and outstanding Common
      Shares on the date of the grant on a non-diluted
basis.</P></TD></TR></TABLE>
<P align=justify>Unless redeemed earlier in accordance with the RSU Plan, the
RSUs of each Eligible Person will be redeemed on or within 30 days after the RSU
Payment Date (as defined below) for cash or Common Shares, as determined by the
Board, for an amount equal to the Fair Market Value (the closing market price of
the Common Shares on the TSX-V on the day prior to redemption) of an RSU, less
applicable withholding taxes, and as increased or decreased by a &#147;performance
factor&#148; determined by the Board in its sole discretion. The &#147;<B>RSU Payment
Date</B>&#148; in respect of any RSU means a date not later than December
15<SUP>th</SUP> of the third year following the year in which such RSU was
granted to the Eligible Person, unless (i) an earlier date has been approved by
the Board as the RSU Payment Date in respect of such RSU, or (ii) there is a
&#147;Change of Control&#148; of the Corporation (as defined in the RSU Plan), the RSU
Plan is terminated or upon an Eligible Person&#146;s death or termination of
employment. </P>
<P align=justify>Under the RSU Plan, the Board may from time to time amend or
revise the terms of the RSU Plan or may discontinue the RSU Plan at any time.
Subject to receipt of requisite Disinterested Shareholder, TSX-V and NYSE
American approvals, the Board may make amendments to the RSU Plan to</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>change the maximum number of Common Shares issuable under the RSU Plan,
</P>
  <LI>
  <P>change the method of calculation of the redemption of RSUs held by Eligible
  Persons, and </P>
  <LI>
  <P>provide an extension to the term for the redemption of RSUs held by
  Eligible Persons. </P></LI></UL>
<P align=justify>All other amendments to the RSU Plan may be made by the Board
without obtaining shareholder approval. </P>
<P align=right>79 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_82></A>
<P align=justify>If an Eligible Person ceases to be an Eligible Person for any
reason (excluding death), all of the Eligible Person&#146;s RSUs which have vested at
the time of such cessation shall be redeemed for cash or Common Shares and the
remainder shall be cancelled. No amount shall be paid by the Corporation to the
Eligible Person in respect of the RSUs so cancelled. If an Eligible Person
ceases to be an Eligible Person due to death, any of the Eligible Person&#146;s RSUs
which would otherwise vest within the next year following the date of death
shall be redeemed for cash or Common Shares as determined by the Board.</P>
<P align=justify>In the event of a Change of Control, then the Corporation may
redeem, subject to prior approval of the TSX-V and NYSE American, all of the
RSUs granted to the Eligible Persons and outstanding under the RSU Plan for that
number of Common Shares equal to the number of RSUs then held by the Eligible
Persons. If the employment of an Eligible Person is terminated within six months
following a Change of Control, all RSUs held by such Eligible Person shall
become vested and be redeemed for cash or Common Shares. </P>
<P align=justify><U>Stock Option Plan</U></P>
<P align=justify>The Board established the Option Plan to attract and motivate
the directors, officers and employees of the Company (and any of its
subsidiaries), employees of any management company and consultants to the
Company (collectively the &#147;Optionees&#148;) and thereby advance the Company&#146;s
interests by providing them an opportunity to acquire an equity interest in the
Company through the exercise of stock options granted to them under the Option
Plan. </P>
<P align=justify>Pursuant to the Option Plan, the Board, based on the
recommendation of the Compensation Committee, may grant options to Optionees in
consideration of them providing their services to the Company or a subsidiary.
The number of Common Shares subject to each option is determined by the Board
within the guidelines established by the Option Plan. The options enable the
Optionees to purchase Common Shares at a price fixed pursuant to such
guidelines. The options are exercisable by the Optionee giving the Company
notice and payment of the exercise price for the number of Common Shares to be
acquired. </P>
<P align=justify>The Option Plan authorizes the Board to grant stock options to
the Optionees on the following terms: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The number of Common Shares subject to issuance pursuant
      to outstanding options, in the aggregate, cannot exceed 10% of the
      outstanding Common Shares.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The number of Common Shares subject to issuance upon the
      exercise of options granted under the Option Plan by one Optionee or all
      Optionees providing investor relations services is subject to the
      following limitations</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>no Optionee can be granted options during a 12 month
      period to purchase more than</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>5% of the issued Common Shares unless disinterested
      Shareholder approval has been obtained (such approval has not been
      sought), or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>2% of the issued Common Shares, if the Optionee is a
      consultant, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD colSpan=2>
      <P align=justify>the aggregate number of Common Shares subject to options
      held by all Optionees providing investor relations services cannot exceed
      2% in the aggregate.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD colSpan=2>
      <P align=justify>Unless the Option Plan has been approved by disinterested
      Shareholders (such approval has not been obtained), options granted under
      the Option Plan, together with all of the Company&#146;s previously established
      and outstanding stock options, stock option plans, employee stock purchase
      plans or any other compensation or incentive mechanisms involving the
      issuance or potential issuance of Common Shares, shall not result, at any
      time, in</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the number of Common Shares reserved for issuance
      pursuant to stock options granted to insiders exceeding 10% of the
      outstanding Common Shares at the time of granting,</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the grant to insiders, within a one year period, of
      options to purchase that number of Common Shares exceeding 10% of the
      outstanding Common Shares, or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the issuance to any one insider and such insider&#146;s
      associates, within a one year period, of Common Shares totaling in excess
      of 5% of the outstanding Common Shares.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>The exercise price of the options cannot be set at less
      than the greater of $0.10 per Common Share and the closing trading price
      of the Common Shares on the day before the granting of the stock options.
      If the Optionee is subject to the tax laws of the United States of America
      and owns (determined in accordance with such laws) greater than 10% of the
      Common Shares, the exercise price shall be at least 110% of the price
      established as aforesaid.</P></TD></TR></TABLE>
<P align=right>80 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_83></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">5. </TD>
    <TD colSpan=2>
      <P align=justify>The options may be exercisable for up to 10
  years.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">6. </TD>
    <TD colSpan=2>
      <P align=justify>There are not any vesting requirements unless the
      Optionee is a consultant providing investor relations services to the
      Company, in which case the options must vest over at least 12 months with
      no more than one-quarter vesting in any three month period. However, the
      Board may impose additional vesting requirements and, subject to obtaining
      any required approval from the Exchange, may authorize all unvested
      options to vest immediately. If there is a potential &#147;change of control&#148;
      of the Company due to a take-over bid being made for the Company or a
      similar event, all unvested options, subject to obtaining any required
      approval from the Exchange, shall vest immediately.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">7. </TD>
    <TD colSpan=2>
      <P align=justify>The options can only be exercised by the Optionee (to the
      extent they have already vested) for so long as the Optionee is a
      director, officer or employee of, or consultant to, the Company or any
      subsidiary or is an employee of the Company&#146;s management Company and
      within a period thereafter not exceeding the earlier of:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the original expiry date;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>90 days after ceasing to be a director, officer or
      employee of, or consultant at the request of the Board or for the benefit
      of another director or officer to, the Company unless the Optionee is
      subject to the tax laws of the United States of America, in which case the
      option will terminate on the earlier of the 90<SUP>th </SUP>day and the
      third month after the Optionee ceased to be an officer or employee;
    and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>if the Optionee dies, within one year from the Optionee&#146;s
      death.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>If the Optionee is terminated &#147;for cause&#148;, involuntarily
      removed or resigns (other than at the request of the Board or for the
      benefit of another director or officer) from any such positions, the
      option will terminate concurrently.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">8. </TD>
    <TD>
      <P align=justify>The options are not assignable except to a wholly-owned
      holding company. If the option qualifies as an &#147;incentive stock option&#148;
      under the United States Internal Revenue Code, the option is not
      assignable to a holding company.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">9. </TD>
    <TD>
      <P align=justify>No financial assistance is available to Optionees under
      the Option Plan.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">10. </TD>
    <TD>
      <P align=justify>Any amendments to outstanding stock options are subject
      to the approval of the TSX-V and NYSE American and, if required by either
      exchange or the Option Plan, of the Shareholders of the Company, possibly
      with only &#147;disinterested Shareholders&#148; being entitled to vote.
      Disinterested Shareholder approval must be obtained for the reduction of
      the exercise price of options (including the cancellation and re-issuance
      of options within a one year period so as to effectively reduce the
      exercise price) of options held by insiders of the Company. The amendment
      to an outstanding stock option will also require the consent of the
      Optionee.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">11. </TD>
    <TD>
      <P align=justify>Any amendments to the Option Plan are subject to the
      approval of the TSX-V and NYSE American and, if required by either
      exchange or the Option Plan, of the Shareholders of the Company, possibly
      with only &#147;disinterested Shareholders&#148; being entitled to
  vote.</P></TD></TR></TABLE>
<P align=justify>No options have been granted under the Option Plan which are
subject to Shareholder approval. </P>
<P align=justify>The Option Plan does not permit stock options to be transformed
into stock appreciation rights. </P>
<P align=right>81 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_84></A>
<P align=justify><B>Outstanding Stock Options </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center vAlign=center bgcolor="#E6EFFF"><B>Name</B> </TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF"><B>Number of</B> <BR>
      <B>Shares
      of</B> <BR><B>Common</B> <BR><B>Stock</B> </TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF"><B>Exercise</B>
      <BR>
      <B>Price</B> </TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF"><B>Grant</B> <BR>
      <B>Date</B>
</TD>
    <TD width="20%" align=center vAlign=center bgcolor="#E6EFFF"><B>Expiration</B>
      <BR>
    <B>Date</B> </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left><B>Officers &amp; Directors:</B> </TD>
    <TD vAlign=center align=left width="20%">&nbsp; </TD>
    <TD vAlign=center align=left width="20%">&nbsp; </TD>
    <TD vAlign=center align=left width="20%">&nbsp; </TD>
    <TD vAlign=center align=left width="20%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>David M. Cole </TD>
    <TD vAlign=center align=right width="20%">200,000 <BR>150,000 <BR>150,000
      <BR>150,000 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$0.66
      <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>06/08/2015 <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>06/08/2020 <BR>04/25/2019 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Michael D. Winn </TD>
    <TD vAlign=center align=right width="20%">100,000 <BR>75,000 <BR>75,000
      <BR>75,000 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$0.66
      <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>06/08/2015 <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>06/08/2020 <BR>04/25/2019 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Christina Cepeliauskas </TD>
    <TD vAlign=center align=right width="20%">75,000 <BR>55,000 <BR>55,000
      <BR>55,000 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$0.66
      <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>06/08/2015 <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>06/08/2020 <BR>04/25/2019 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Brian E. Bayley </TD>
    <TD vAlign=center align=right width="20%">75,000 <BR>50,000 <BR>50,000
      <BR>50,000 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$0.66
      <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>06/08/2015 <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>06/08/2020 <BR>04/25/2019 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Brian K. Levet </TD>
    <TD vAlign=center align=right width="20%">75,000 <BR>50,000 <BR>50,000
      <BR>50,000 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$0.66
      <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>06/08/2015 <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>06/08/2020 <BR>04/25/2019 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Larry M. Okada </TD>
    <TD vAlign=center align=right width="20%">75,000 <BR>50,000 <BR>50,000
      <BR>50,000 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$0.66
      <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>06/08/2015 <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>06/08/2020 <BR>04/25/2019 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Kim Casswell </TD>
    <TD vAlign=center align=right width="20%">30,000 <BR>30,000 <BR>5,000 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>04/25/2019 </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>Consultants/Employees </TD>
    <TD vAlign=center align=right width="20%">842,500 <BR>814,500 <BR>752,500
      <BR>60,000 <BR>17,500 <BR>822,500 </TD>
    <TD vAlign=center align=right width="20%">$1.20 <BR>$1.30 <BR>$0.66
      <BR>$0.87 <BR>$0.88 <BR>$1.20 </TD>
    <TD vAlign=center align=right width="20%">08/28/2017 <BR>10/18/2016
      <BR>06/08/2015 <BR>12/22/2014 <BR>06/26/2014 <BR>04/25/2014 </TD>
    <TD vAlign=center align=right width="20%">08/28/2022 <BR>10/18/2021
      <BR>06/08/2020 <BR>12/22/2019 <BR>06/26/2019 <BR>04/25/2019
</TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Total for all Officers and
      Directors </TD>
    <TD align=right width="25%" bgColor=#e6efff>1,955,000 </TD>
    <TD align=right width="25%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Total for all Employees and Consultants </TD>
    <TD align=right width="25%">3,309,500 </TD>
    <TD align=right width="25%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff >Total for all Officers,
      Directors, Employees and Consultants </TD>
    <TD align=right width="25%" bgColor=#e6efff>5,264,500 </TD>
    <TD align=right width="25%"
  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify><U>Stock Grant Program.</U></P>
<P align=justify>The Board created the Incentive Stock Grant Program for the
benefit of the President and CEO, Chairman of the Board, and COO in 2010. The
grants have a two-year vesting period The purpose of the Stock Grant Program is
as follows. Firstly, to reward and provide an incentive to such persons for the
ongoing efforts towards the continuing successes and goals of the Company as
many of its successes directly result from their very significant efforts.
Secondly, to provide such persons with a long-term incentive to remain with the
Company. Finally, from time to time, the Company may provide additional
compensation in the form of stock grants as part of annual salaries. </P>
<P align=justify>The Stock Grant Program provides that, following the approval
of the independent members of the Compensation Committee, up to 300,000 Common
Shares may be awarded in each year. The Common Shares awarded will vest and be
issued in three separate tranches over a two year period &#150; on the date of grant,
and on the first and second anniversaries of the initial grant. None of the
300,000 Common Shares not awarded in one year can be rolled over or awarded in
subsequent years. If the recipient ceases to be a director or officer of the
Company before the relevant anniversary, he or she will not be entitled to
receive any further Common Shares under the Stock Grant Program, including
Common Shares previously awarded for issuance on such anniversary (with the exception of
historical stock grants to Mr. Michael Winn, who shall receive the Common Shares
even if he ceases to be the director). </P>
<P align=right>82 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_85></A>
<P align=justify>The actual number of Common Shares awarded in each year is that
number recommended and approved by the independent members of the Compensation
Committee or independent directors of the Company. </P>
<P align=justify><B><U>ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY
TRANSACTIONS</U></B></P>
<P align=justify><B><U>7.A. Major Shareholders.</U></B><B> </B></P>
<P align=justify><I><U>7.A.1.a. Holdings By Major Shareholders</U></I><U>.
</U></P>
<P align=justify>The Company is aware of one person who beneficially own 5% or
more of the Registrant's voting securities. The table below lists as of April 3,
2018, persons and/or companies holding 5% or more beneficial interest in the
Common Shares. </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD vAlign=center align=center bgColor=#e6efff>Title of Class </TD>
    <TD vAlign=center align=center width="25%" bgColor=#e6efff>Name of Owner
    </TD>
    <TD vAlign=center align=center width="25%" bgColor=#e6efff>Amount and
      Nature of <BR>Beneficial Ownership </TD>
    <TD vAlign=center align=center width="25%" bgColor=#e6efff>Percent of
      Class<SUP>(1) </SUP></TD></TR>
  <TR vAlign=top>
    <TD align=left>Common </TD>
    <TD align=center width="25%">Paul H. Stephens </TD>
    <TD align=center width="25%">15,408,491 </TD>
    <TD align=center width="25%">&nbsp; &nbsp;19.32%
</TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(1) </sup> </TD>
    <TD>
      <P align=justify>Based on 79,746,271 shares outstanding as of April 3,
      2018.</P></TD></TR></TABLE>
<P align=justify><I><U>7.A.1.b. Significant Changes in Major Shareholders&#146;
Holdings</U></I><U>. </U></P>
<P align=justify>Not applicable. </P>
<P align=justify><I><U>7.A.1.c. Different Voting Rights</U></I>.</P>
<P align=justify>The Company&#146;s major shareholders do not have different voting
rights. </P>
<P align=justify><I><U>7.A.2. Canadian Share Ownership</U></I>. </P>
<P align=justify>On April 3, 2018, the Company&#146;s shareholders&#146; list showed
79,746,271 common shares outstanding and 341 registered shareholders. The
Company has researched the indirect holdings by depository institutions and
other financial institutions estimates that there are 17 &#147;holders of record"
resident in Canada representing 36,586,003 Common Shares, 290 &#147;holders of
record" resident in the USA representing 42,760,179 Common Shares, and 34
&#147;holders of record&#148; resident internationally representing 397,089 Common Shares.
</P>
<P align=justify>The Company is a foreign private issuer for its current fiscal
year. As of the last business day of the Company&#146;s second fiscal quarter, the
majority of the Company&#146;s executive officers and directors were not US citizens
or residents, the majority of the Company&#146;s assets are not in the United States,
and the Company is administered principally in Canada. The Company&#146;s major
shareholders in common shares have the same voting rights as other holders of
common shares. The Company is not directly or indirectly owned or controlled by
another corporation, a foreign government or any other natural or legal persons
severally or jointly. There are no arrangements known to the Company which may
result in a change of control of the Company.</P>
<P align=justify><I><U>7.A.3. Control of the Company</U></I><I> </I></P>
<P align=justify>The Company is a publicly owned Canadian Company, the shares of
which are owned by U.S. residents, Canadian residents and other foreign
residents. The Company is not controlled by any foreign government or other
person(s) except as described in Item 4.A., &#147;History and Growth of the Company&#148;,
and Item 6.E., &#147;Share Ownership&#148;. </P>
<P align=justify><I><U>7.A.4. Change of Control of Company
Arrangements</U></I><I>.</I></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>7.B. Related Party Transactions</U></B></P>
<P align=justify>The aggregate value of transactions and outstanding balances
relating to key management personnel and directors were as follows:</P>
<P align=right>83 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_86></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="12%">&nbsp;
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=right
      width="12%"><B>Share</B><B>-</B><B>based</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="12%">&nbsp;
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left
  width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>For
      </B><B>the </B><B>year </B><B>ended
      </B><B>December </B><B>31, </B><B>2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Salary </B><B>or </B><B>Fees</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Management </TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>733,244 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>361,865 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>1,095,109 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Outside directors * </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">149,882 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">226,614 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">376,496 </TD>
    <TD align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>Seabord Services Corp. </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">1,240,726 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">588,479 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">1,829,205 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="12%">&nbsp;
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=right
      width="12%"><B>Share</B><B>-</B><B>based</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="12%">&nbsp;
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left
  width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>For
      </B><B>the </B><B>year </B><B>ended
      </B><B>December </B><B>31, </B><B>2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Salary </B><B>or </B><B>Fees</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Management </TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>803,033 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>215,933 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>1,018,966 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Outside directors * </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">151,228 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">167,534.00 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">318,762 </TD>
    <TD align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>Seabord Services Corp. </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">1,311,861 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">383,467 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">1,695,328 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="12%">&nbsp;
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=right
      width="12%"><B>Share</B><B>-</B><B>based</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left width="12%">&nbsp;
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" align=left
  width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>For
      </B><B>the </B><B>year </B><B>ended
      </B><B>December </B><B>31, </B><B>2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Salary </B><B>or </B><B>Fees</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Management </TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>1,067,210 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>108,637 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff>$</TD>
    <TD align=right width="12%" bgColor=#e6efff>1,175,847 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Outside directors * </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">158,257 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">79,898 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=right width="12%">238,155 </TD>
    <TD align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>Seabord Services Corp. </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>413,700 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff>413,700 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">1,639,167 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">188,535 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%">1,827,702 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%">&nbsp;</TD></TR></TABLE>
<P align=justify>* Directors fees include $5,000 per month paid to the Company&#146;s
non-Executive Chairman, who does not receive the fees paid to the other
independent director&#146;s. </P>
<P align=justify>Seabord Services Corp. (&#147;Seabord&#148;) is a management services
company controlled by the Chairman of the Board of Directors of the Company.
Seabord provides a Chief Financial Officer, a Corporate Secretary, accounting
and administration staff, and office space to the Company. The Chief Financial
Officer and Corporate Secretary are employees of Seabord and are not paid
directly by the Company.</P>
<P align=justify>Included in the table above for the year ended December 31,
2015 is $247,660 in termination payments to a former officer of the Company. The
amount has been included in Other expenses for that year.</P>
<P align=justify><U>Shareholder Loans</U> </P>
<P align=justify>Not applicable. </P>
<P align=justify><U>Amounts Owing to Senior Management/Directors</U> </P>
<P align=justify>Included in accounts payable and accrued liabilities at
December 31, 2017 is $7,177 (2016 - $5,913; 2015 - $3,467) owed to key
management personnel and $23,568 (2016 - $17,559; 2015 - $24,329) to other
related parties.</P>
<P align=justify>Other than as disclosed above, there have been no transactions
since December 31, 2017, or proposed transactions, which have materially
affected or will materially affect the Company in which any director, executive
officer, or beneficial holder of more than 5% of the outstanding common shares,
or any of their respective relatives, spouses, associates or affiliates has had
or will have any direct or material indirect interest. Management believes the
transactions referenced above were on terms at least as favorable to the Company
as the Company could have obtained from unaffiliated parties. </P>
<P align=justify><U>Other Related Party Transactions</U> </P>
<P align=justify>In October 2017, the Company issued a note receivable to
Revelo, a related party by way of a common director for the principal amount of
$400,000. The note was due on December 31, 2017, together with accrued interest
at a rate of 1% per month and a bonus of $20,000. As at December 31, 2017, the
balance owed to the Company pursuant to the note was $429,973 including accrued
interest and bonus fee. The Company is negotiating the terms of repayment. </P>
<P align=justify>Other than as disclosed above, there have been no transactions
or loans between the Company and (a) enterprises that directly or indirectly
through one or more intermediaries, control or are controlled by, or are under
common control with, the company; (b) associates; (c) individuals owning,
directly or indirectly, an interest in the voting power of the Company giving them significant influence over the Company, and close members
of any such individual&#146;s family; (d) key management personnel and close members
of such individuals&#146; families; and (e) enterprises substantially owned or
controlled, directly or indirectly, by any person described in (c) or (d) or
over which such a person is able to exercise significant influence.
</P>
<P align=right>84 </P>
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<P align=justify><B><U>7.C. Interests of Experts and Counsel</U></B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>ITEM 8. FINANCIAL INFORMATION</U></B> </P>
<P align=justify><B><U>8.A. Consolidated Statements and Other Financial
Information</U></B></P>
<P align=justify>The Company's financial statements are stated in Canadian
Dollars and are prepared in accordance with International Financial Reporting
Standards as issued by the International Accounting Standards Board. </P>
<P align=justify>See &#145;&#145;Item 18. Financial Statements&#146;&#146; for our Annual Audited
Consolidated Financial Statements, related notes and other financial information
filed with this annual report on Form 20-F. </P>
<P align=justify><U>8.A.7. Legal/Arbitration Proceedings</U> </P>
<P align=justify>The Directors and the management of the Company do not know of
any material active or pending, legal proceedings; nor is the Company involved
as a plaintiff in any material proceeding or pending litigation. </P>
<P align=justify><U>8.A.8. Dividends.</U> </P>
<P align=justify>The Company has not declared or paid any dividends on our
Common Shares. Our current business plan requires that for the foreseeable
future, any future earnings be reinvested to finance the growth and development
of our business. We do not intend to pay cash dividends on the Common Shares in
the foreseeable future. We will not declare or pay any dividends until such time
as our cash flow exceeds our capital requirements and will depend upon, among
other things, conditions then existing including earnings, financial condition,
restrictions in financing arrangements, business opportunities and conditions
and other factors, or our Board determines that our shareholders could make
better use of the cash. </P>
<P align=justify><U>8.B. Significant Changes</U> </P>
<P align=justify>There have been no significant changes to the Company&#146;s
financial condition since the end of the fiscal year. </P>
<P align=justify><B><U>ITEM 9. THE OFFER AND LISTING</U></B> </P>
<P align=justify><B><U>9.A. Common Share Trading Information</U></B></P>
<P align=justify>The Common Shares began trading on the TSX-V on November 23,
2003 and the Common Shares began trading on the NYSE American on January 30,
2012.</P>
<P align=justify>The table below lists the high and low sales prices on the
TSX-V and NYSE American for: each of the last six months; for the two most
recent full financial years and subsequent period, each full financial quarter;
and the last five fiscal years. </P>
<P align=right>85 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE width="80%" border=0 align="center" cellPadding=3
cellSpacing=0
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; ">

  <TR vAlign=top>
    <TD
    align=left bgcolor="#E6EFFF" style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD colspan="2" align=center bgcolor="#E6EFFF" style="BORDER-TOP: #000000 1px solid"><B>NYSE
      American</B> </TD>
    <TD
      width="15%" align=right bgcolor="#E6EFFF" style="BORDER-TOP: #000000 1px solid"><B>TSX-V</B> </TD>
    <TD width="15%"
    align=center bgcolor="#E6EFFF" style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF" style="BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD width="15%" align=center bgcolor="#E6EFFF"><B>High</B> </TD>
    <TD width="15%" align=center bgcolor="#E6EFFF"><B>Low</B> </TD>
    <TD width="15%" align=center bgcolor="#E6EFFF"><B>High</B> </TD>
    <TD
      width="15%" align=center bgcolor="#E6EFFF" style="BORDER-RIGHT: #000000 1px solid"><B>Low</B> </TD></TR>
  <TR vAlign=top>
    <TD
    align=left bgcolor="#E6EFFF" style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
    <TD width="15%" align=center bgcolor="#E6EFFF" style="BORDER-BOTTOM: #000000 1px solid">(in
      US$) </TD>
    <TD width="15%" align=center bgcolor="#E6EFFF" style="BORDER-BOTTOM: #000000 1px solid">(in
      US$) </TD>
    <TD width="15%" align=center bgcolor="#E6EFFF" style="BORDER-BOTTOM: #000000 1px solid">(in
      Cdn$) </TD>
    <TD width="15%"
    align=center bgcolor="#E6EFFF"
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid">(in Cdn$) </TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center
      width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left><B><I><U>Prior
      Fiscal Years Ended</U></I></B> </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center
      width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>December 31, 2017</TD>
    <TD align=center width="15%">$1.24 </TD>
    <TD align=center width="15%">$0.67 </TD>
    <TD align=center width="15%">$1.60 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$0.85    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>December 31, 2016</TD>
    <TD align=center width="15%">$ 1.40 </TD>
    <TD align=center width="15%">$ 0.35 </TD>
    <TD align=center width="15%">$ 1.84 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      0.50 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>December 31, 2015</TD>
    <TD align=center width="15%">$ 0.81 </TD>
    <TD align=center width="15%">$ 0.35 </TD>
    <TD align=center width="15%">$ 0.97 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      0.48 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>December 31, 2014</TD>
    <TD align=center width="15%">$ 1.23 </TD>
    <TD align=center width="15%">$ 0.63 </TD>
    <TD align=center width="15%">$ 1.93 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      0.90 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>December 31, 2013</TD>
    <TD align=center width="15%">$ 2.20 </TD>
    <TD align=center width="15%">$ 0.78 </TD>
    <TD align=center width="15%">$ 2.15 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      0.86 </TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center
      width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left><B><I><U>Prior
      Quarters Ended</U></I></B> </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center
      width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q4 - December 31,
      2017 </TD>
    <TD align=center width="15%">$0.92 </TD>
    <TD align=center width="15%">$0.67 </TD>
    <TD align=center width="15%">$1.18 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$0.85    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q3 - September 30,
      2017 </TD>
    <TD align=center width="15%">$1.04 </TD>
    <TD align=center width="15%">$0.82 </TD>
    <TD align=center width="15%">$1.32 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$1.02    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q2 - June 30, 2017    </TD>
    <TD align=center width="15%">$0.97 </TD>
    <TD align=center width="15%">$0.75 </TD>
    <TD align=center width="15%">$1.32 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$1.05    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q1 - March 31, 2017    </TD>
    <TD align=center width="15%">$1.24 </TD>
    <TD align=center width="15%">$0.92 </TD>
    <TD align=center width="15%">$1.60 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$1.22    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q4 - December 31,
      2016 </TD>
    <TD align=center width="15%">$ 1.20 </TD>
    <TD align=center width="15%">$ 0.85 </TD>
    <TD align=center width="15%">$ 1.50 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      1.15 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q3 - September 30,
      2016 </TD>
    <TD align=center width="15%">$ 1.40 </TD>
    <TD align=center width="15%">$ 0.62 </TD>
    <TD align=center width="15%">$ 1.84 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      0.86 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q2 - June 30, 2016    </TD>
    <TD align=center width="15%">$ 1.03 </TD>
    <TD align=center width="15%">$ 0.57 </TD>
    <TD align=center width="15%">$ 1.34 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      0.77 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>Q1 - March 31, 2016    </TD>
    <TD align=center width="15%">$ 0.65 </TD>
    <TD align=center width="15%">$ 0.35 </TD>
    <TD align=center width="15%">$ 0.85 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$
      0.50 </TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center
      width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left><B><I><U>Last 6
      Months Ended</U></I></B> </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center
      width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>February 28, 2018</TD>
    <TD align=center width="15%">$0.95 </TD>
    <TD align=center width="15%">$0.86 </TD>
    <TD align=center width="15%">$1.17 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$1.11    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>January 31, 2018 </TD>
    <TD align=center width="15%">$0.97 </TD>
    <TD align=center width="15%">$0.81 </TD>
    <TD align=center width="15%">$1.23 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$1.02    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>December 31, 2017</TD>
    <TD align=center width="15%">$0.86 </TD>
    <TD align=center width="15%">$0.72 </TD>
    <TD align=center width="15%">$1.09 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$0.91    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>November 30, 2017</TD>
    <TD align=center width="15%">$0.92 </TD>
    <TD align=center width="15%">$0.70 </TD>
    <TD align=center width="15%">$1.18 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$0.91    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>October 31, 2017 </TD>
    <TD align=center width="15%">$0.86 </TD>
    <TD align=center width="15%">$0.67 </TD>
    <TD align=center width="15%">$1.08 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$0.85    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid" align=left>September 30, 2017    </TD>
    <TD align=center width="15%">$1.00 </TD>
    <TD align=center width="15%">$0.82 </TD>
    <TD align=center width="15%">$1.24 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" align=center width="15%">$1.02    </TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="15%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="15%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="15%"
    >&nbsp;</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="15%" >&nbsp;</TD></TR></TABLE>
<P align=justify><B><U>ITEM 10. ADDITIONAL INFORMATION</U></B> </P>
<P align=justify><B><U>10.A. Share Capital</U></B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>10.B. Memorandum and Articles of Association</U></B></P>
<P align=justify><B><I>New British Columbia Corporations Act </I></B></P>
<P align=justify><B><I>Background </I></B></P>
<P align=justify>Effective March 29, 2004, the Business Corporations Act
(British Columbia) (the &#147;New Act&#148;) replaced the previous Company Act (British
Columbia) (the &#147;Old Act&#148;). As a consequence, all British Columbia companies are
now governed by the New Act. The New Act is intended to modernize and streamline
company law in British Columbia. </P>
<P align=justify><B><I>Objects and Purposes </I></B></P>
<P align=justify>The Articles of EMX place no restrictions upon the type of
business that the Company may engage in. </P>
<P align=justify><B><I>Disclosure of Interest of Directors, Part 17 of the
Articles </I></B></P>
<P align=justify>17.1&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;A director or senior officer
who holds a disclosable interest (as that term is used in the <I>Business
Corporations Act</I>) in a contract or transaction into which the Company has
entered or proposes to enter is liable to account to the Company for any profit that accrues to the director or senior officer under
or as a result of the contract or transaction only if and the extent provided in
the <I>Business Corporations Act.</I> </P>
<P align=right>86 </P>
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noShade SIZE=5>
<A name=page_89></A>
<P align=justify>17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A director who
holds a disclosable interest in a contract into which the Company has entered or
proposes to enter is not entitled to vote on any directors&#146; resolution to
approve that contract or transaction, unless all the directors have a
disclosable interest in that contract or transaction, in which case any or all
of those directors may vote on such resolution. </P>
<P align=justify>17.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A director who
holds a disclosable interest in a contract or transaction into which the Company
has entered or proposes to enter and who is present at the meeting of directors
at which the contract or transaction is considered for approval may be counted
in the quorum at the meeting whether or not the director votes on any or all of
the resolutions considered at the meeting. </P>
<P align=justify>17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A director of
senior officer who holds any office or possesses any property, right or interest
that could result, directly or indirectly, in the creation of a duty or interest
that materially conflicts with that individual&#146;s duty or interest as a director
or senior officer, must disclose the nature and extent of the conflict as
required by the <I>Business Corporations Act</I>. </P>
<P align=justify>17.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A director may
hold any office or place of profit with the Company, other than the office of
auditor of the Company, in addition to their office of director for a period and
on the terms (as to remuneration or otherwise)that the directors may determine.
</P>
<P align=justify>17.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No director or
intended director is disqualified by their office from contracting with the
Company either with regard to the holding or any office or place of profit the
director holds with the Company or as vendor, purchaser or otherwise, and no
contract or transaction entered into by or on behalf of the Company in which a
director is in any way interested is liable to be voided for that reason. </P>
<P align=justify>17.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A director or
officer, or any person in which a director or officer has an interest, may act
in a professional capacity for the Company, except as auditor of the Company,
and the director or officer or such person is entitled to remuneration for
professional services as if that director or officer were not a director or
officer. </P>
<P align=justify>17.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A director or
officer may be or become a director, officer or employee of, or otherwise
interested in, any person in which the Company may be interested as a
shareholder or otherwise, and the director or officer is not accountable to the
Company for any remuneration or other benefits received by them as director,
officer or employee of, or from their interest in, such other person. </P>
<P align=justify><B><I>Powers and Duties of Directors Part 16 of the Articles
</I></B></P>
<P align=justify>16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors
must, subject to the Articles, manage or supervise the management of the
business and affairs of the Company and have the authority to exercise all such
powers of the Company as are not, by the <I>Business Corporations Act</I> or by
the Articles, required to be exercised by the shareholders of the Company. </P>
<P align=justify>16.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors
may from time to time, by power of attorney or other instrument, under seal if
so required by law, appoint any person to be the attorney of the Company for
such purposes, and with such powers, authorities and discretions (not exceeding
those vested in or exercisable by the directors under these Articles and
excepting the power to fill vacancies in the board of directors, to remove a
director, to change the membership of, or fill vacancies in, any committee of
the directors, to appoint or remove officers appointed by the directors and to
declare dividends)and for such period, and with such remuneration and subject to
such conditions as the directors may think fit. Any such power of attorney may
contain such provisions for the protection or convenience of persons dealing
with such attorney as the directors think fit. Any such attorney may be
authorized by the director to sub-delegate all or any of the powers, authorities
and discretions for the time being vested in them. </P>
<P align=justify><B><I>Borrowing Powers of Directors, Part 8 of the Articles
</I></B></P>
<P align=justify>8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
directors, if authorized by the directors, may: </P>
<P style="MARGIN-LEFT: 5%"
align=justify>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; borrow money in such
manner and amount, on the security, from the sources and upon the terms and
conditions as they consider appropriate; </P>
<P align=center>87 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_90></A>
<P style="MARGIN-LEFT: 5%"
align=justify>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; issue bonds,
debentures, and other debt obligations either outright or as security for any
liability or obligation of the Company or any other person and at such discounts
or premiums and on such other terms as they consider appropriate;</P>
<P style="MARGIN-LEFT: 5%"
align=justify>(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; guarantee the
repayment of money by any other persons or the performance of any obligation of
any other person; and </P>
<P style="MARGIN-LEFT: 5%"
align=justify>(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; mortgage, charge,
whether by way of specific or floating charge, grant a security interest in, or
give other security on, the whole or any part of the present and future assets
and undertaking of the Company. </P>
<P align=justify><B><I>Remuneration of Directors Part 13 of the Articles
</I></B></P>
<P align=justify>13.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors
are entitled to the remuneration for acting as directors, if any, as the
directors may from time to time determine. If they so decide, the remuneration,
if any, of the directors will be determined by the shareholders. That
remuneration may be in addition to any salary or other remuneration paid to any
officer of employee of the Company as such, who is also a director. </P>
<P align=justify>13.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company must
reimburse each director for the reasonable expenses they may incur in and about
the business of the Company. </P>
<P align=justify>13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If any director
performs any professional or other services for the Company that in the opinion
of the directors are outside the ordinary duties of a director, or if any
director is otherwise specially occupied in or about the Company&#146;s business,
they may be paid remuneration fixed by the directors, or, at the option of that
director, fixed by ordinary resolution, and such remuneration may be either in
addition to, or in substitution for, any other remuneration that they may be
entitled to receive. </P>
<P align=justify>13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise
determined by ordinary resolution, the directors on behalf of the Company may
pay a gratuity or pension or allowance on retirement to any director who has
held any salaried office or place of profit with the Company or to their spouse
or dependants and may make contributions to any fund and pay premiums for the
purchase or provision of any such gratuity, pension or allowance.</P>
<P align=justify><B><I>Required Ownership of Capital by Directors Part 13 of the
Articles </I></B></P>
<P align=justify>13.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A director is
not required to hold a share in the capital of the Company as qualification for
their office but must be qualified as required by the <I>Business Corporations
Act</I> to become, act or continue to act as a director. </P>
<P align=justify><B><I>Dividend Rights Part 22 of the Articles </I></B></P>
<P align=justify>22.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors
may from time to time declare and authorize payment of such dividends as they
may deem advisable. </P>
<P align=justify><B><I>Special Rights and Restrictions Part 9 and 10 of the
Articles</I></B></P>
<P align=justify>9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;The
Company may by ordinary resolution: </P>
<P style="MARGIN-LEFT: 5%"
align=justify>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; create special
rights or restrictions for, and attach those special rights or restrictions to,
the shares of any class or series of shares, unless any of those shares have
been issued in which case the Company may do so only be special resolution; or
</P>
<P style="MARGIN-LEFT: 5%"
align=justify>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; vary or delete any
special rights or restrictions attached to the shares of any class or series of
shares, unless any of those shares have been issued in which case the Company
may do so only be ordinary resolution. </P>
<P align=justify>Rules pertaining to annual general and special general meetings
of shareholders are described in Sections Ten of the Company&#146;s Articles. These
rules are summarized as follows: </P>
<P align=justify>10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company
must, unless an annual general meeting is deferred or waived in accordance with
the <I>Business Corporations Act</I>, hold its first annual general meeting
following incorporation, amalgamation or continuation within 18 months after the date on which it was incorporated or otherwise
created and recognized, and after that must hold an annual general meeting at
least once in each calendar year and not more than 15 months after the last
annual reference date at such time and place as may be determined by the
directors; and </P>
<P align=right>88 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_91></A>
<P align=justify>10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If all the
shareholders entitled to vote at an annual general meeting consent by unanimous
resolution under the <I>Business Corporations Act</I> to all of the business
required to be transacted at that annual general meeting, the meeting is deemed
to have been held on the date of the unanimous resolution. The shareholders
must, in any unanimous resolution passed under this Article 10.2, select the
Company&#146;s annual reference date a date that would be appropriate for the holding
of the applicable annual general meeting. </P>
<P align=justify>10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors
may, whenever they think fit, call a meeting of shareholders to be held in
British Columbia, Calgary, Alberta or Toronto, Ontario or at such other location
as may be approved by the Registrar of Companies at such time and place as may
be determined by the directors. </P>
<P align=justify>10.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company must
send notice of the date, time and location of any meeting of shareholders, in
the manner provided by these Articles, or in such other manner, if any, as may
be prescribed by ordinary resolution (whether previous notice of the resolution
has been give or not), to each shareholder entitled to attend the meeting, to
each director and to the auditor of the Company, unless these Articles otherwise
provide, at least the following number of days before the meeting: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>if and for so long the Company is a public company, 21
      days;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>otherwise, 10 days.</P></TD></TR></TABLE>
<P align=justify>10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors
may set a date as the record date for the purpose of determining shareholders
entitled to notice of any meeting of shareholders. The record date must not
precede the date on which the meeting is to be held by more than two months or,
in the case of a general meeting requisitioned by shareholders under the
<I>Business Corporations Act</I>, by more than four months. The record date must
not precede the date on which the meeting is held by fewer than: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>if and for so long as the Company is a public company, 21
      days;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>otherwise, 10 days.</P></TD></TR></TABLE>
<P align=justify>If no record date is set, it is 5:00 p.m. on the business day
immediately preceding the first date on which the notice is sent or, if no
notice is sent, the beginning of the meeting. </P>
<P align=justify>10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors
may set a date as the record date for the purpose of determining shareholders
entitled to vote at any meeting of shareholders. The record date must not
precede the date on which the meeting is to be held by more than two months or,
in the case of a general meeting requisitioned by shareholders under the
<I>Business Corporations Act</I>, by more than four months. If no record date is
set, the record date is 5:00 p.m. on the day immediately preceding the first
date on which the notice is sent or, if no notice is sent, the beginning of the
meeting. </P>
<P align=justify>10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The accidental
omission to send notice of any meetings to, or the non-receipt of any notice by,
any of the persons entitled to notice does not invalidate any proceedings at
that meeting. Any person entitled to notice of such meeting of shareholders may,
in writing or otherwise, waive or reduce the period of notice of such meeting.
</P>
<P align=justify>10.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If a meeting of
shareholders is to consider special business within the meaning of Article 11.1,
the notice of meeting must: </P>
<P style="MARGIN-LEFT: 5%"
align=justify>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; state the general
nature of the special business; and </P>
<P style="MARGIN-LEFT: 5%"
align=justify>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if the special
business includes considering, approving, ratifying, adopting or authorizing any
document or the signing of or giving of effect to any document, have attached to
it a copy of the document or state that a copy of the document will be available
for inspection by shareholders: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>at the Company&#146; records office, or at such other
      reasonably accessible location in British Columbia as is specified in such
      notice; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>during statutory business hours o any one or more
      specified days before the day set for the holding of the
  meeting.</P></TD></TR></TABLE>
<P align=justify><BR></P>
<P align=right>89</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_92></A>
<P align=justify><B><I>Proceedings at Meetings of Shareholders
</I></B><BR><B><I>Part 11 of the Articles </I></B> </P>
<P align=justify>11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At a meeting of
shareholders, the following business is special business: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>at a meeting of shareholders that is not an annual
      general meeting, all business is special business except business relating
      to the conduct of or voting at the meeting;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>at an annual general meeting, all business is special
      business except for the following:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>business relating to the conduct or voting at the
      meeting;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>consideration of any financial statements of the Company
      presented to the meeting;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>consideration of any reports of the directors or
      auditor;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the setting or changing of the number of
  directors;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the election or appointment of directors;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>the appointment of an auditor;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>the setting of the remuneration of the auditor;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>business arising out of a report of the directors not
      requiring the passing of a special resolution or an exceptional
      resolution; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>any other business under which, under these Articles or
      the <I>Business Corporations Act</I>, may be transacted at a meeting of
      shareholders without prior notice of the business being given to the
      shareholders.</P></TD></TR></TABLE>
<P align=justify>11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The majority of
votes required for the Company to pass a special resolution at a meeting of
shareholders are two-thirds of the votes cast on the resolution. </P>
<P align=justify>11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to the
special rights and restrictions attached to the shares of any class or series of
shares, the quorum for the transaction of business at a meeting of shareholders
is two shareholders present in person or represented by proxy. </P>
<P align=justify>11.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If there is only
one shareholder entitled to vote at a meeting of shareholders: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>the quorum of one person who is, or who represents by
      proxy, that shareholder; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>that shareholder, present in person or by proxy, may
      constitute the meeting.</P></TD></TR></TABLE>
<P align=justify>11.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The directors,
the president (if any), the secretary (if any), the assistant secretary (if
any), any lawyer for the Company, auditor of the Company and any other persons
invited by the directors are entitled to attend any meeting of shareholders, but
if any of those persons does attend a meeting of shareholders, that person is
not to be counted in the quorum and is not entitled to vote at the meeting
unless that person is a shareholder or proxy holder entitled to vote at the
meeting. </P>
<P align=justify>11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No business,
other than the election of a chair of the meeting and the adjournment of the
meeting, may be transacted at any meeting of shareholders unless a quorum of
shareholders entitled to vote is present at the commencement of the meeting, but
such quorum need not be present throughout the meeting. </P>
<P align=justify>11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If, within
one-half hour from the time set for the holding of a meeting of shareholders, a
quorum is not present: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>in the case of a general meeting requisitioned by
      shareholders, the meeting is dissolved, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>in the case of any other meeting of shareholders, the
      meeting stands adjourned to the same day in the next week at the same time
      and place.</P></TD></TR></TABLE>
<P align=justify>11.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If, at the
meeting to which the meeting referred to in Article 11.7(2) was adjourned, a
quorum is not present within one-half hour from the time set for the holding of
the meeting, the person or persons present and being, or representing by proxy,
one or more shareholders entitled to attend and vote at the meeting constitute a
quorum. </P>
<P align=justify>11.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following
individuals are entitled to preside as chair at a meeting of shareholders: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>the chair of the board, if any; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>if the chair of the board is absent or unwilling to act
      as chair of the meeting, the first of the following individuals to agree
      to act as chair: the president, if any.</P></TD></TR></TABLE>
<P align=right>90 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_93></A>
<P align=justify>11.10&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;If, at any meeting of
shareholders, the chair of the board or president are not present within 15
minutes after the time set for holding the meeting, or if the chair of the board
and the president are unwilling to act as chair of the meeting, or if the chair
of the board and the president have advised the secretary, if any, or any
director present at the meeting, that they will not be present at the meeting,
one of the chief executive officer, the chief financial officer, a
vice-president, the secretary or the Company&#146;s legal counsel may act as chair of
the meeting and, failing them, the directors present must choose one of their
number to be chair of the meeting or if all of the directors present decline to
take the chair or fail to so choose of if no director is present, the
shareholders entitled to vote at the meeting who are present in person or by
proxy may choose any person at the meeting to chair the meeting. </P>
<P align=justify>11.11&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;The chair of a meeting of
shareholders may, and if so directed by the meeting must, adjourn the meeting
from time to time and from place to place, but no business may be transacted at
any adjourned meeting other than the business left unfinished at the meeting
from which the adjournment took place. </P>
<P align=justify>11.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is not necessary to give
any notice of an adjourned meeting or of the business to be transacted at any
adjourned meeting of shareholders except that, when a meeting is adjourned for
30 days or more, notice of the adjourned meeting must be given as in the case of
the original meeting. </P>
<P align=justify>11.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Every motion put to a vote
at a meeting of shareholders will be decided on a show of hands unless a poll,
before or on the declaration of the result of the vote by show of hands, is
directed by the chair or demanded by at least one shareholder entitled to vote
who is present in person or by proxy. </P>
<P align=justify>11.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The chair of a
meeting of shareholders must declare to the meeting the decision on every
question in accordance with the result of the show of hands or the poll, as the
case may be, and that decision must be entered into the minutes of the meeting.
A declaration of the chair that a resolution is carried by the necessary
majority or is defeated is, unless a poll is directed by the chair or demanded
under Article 11.13, conclusive evidence without proof of the number or
proportion of the votes recorded in favor of or against the resolution. </P>
<P align=justify>11.15&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;No motion proposed at a
meeting of shareholders need be seconded unless the chair of the meeting rules
otherwise, and the chair of any meeting of shareholders is entitled to propose
or second a motion. </P>
<P align=justify>11.16&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;In case of an equality of
votes, the chair of a meeting of shareholders does not, either on a show of
hands or on a poll, have a second or casting vote in addition to the vote or
votes to which the chair may be entitled as a shareholder. </P>
<P align=justify>11.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Subject to Article
11.18, if a poll is duly demanded at a meeting of shareholders: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD colSpan=2>
      <P align=justify>the poll must be taken:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>at the meeting, or within seven days after the date of
      the meeting, as the chair of the meeting directs; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>in the manner, at the time and at the place that the
      chair of the meeting directs;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD colSpan=2>
      <P align=justify>the result of the poll is deemed to be the decision of
      the meeting at which the poll is demanded; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD colSpan=2>
      <P align=justify>the demand for the poll may be withdrawn by the person
      who demanded it.</P></TD></TR></TABLE>
<P align=justify>11.18&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;A poll demanded at a
meeting of shareholders on a question of adjournment must be taken immediately
at the meeting. </P>
<P align=justify>11.19&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;In the case of any dispute
as to the admission or rejection of a vote given on a poll, the chair of the
meeting must determine the dispute, and their determination made in good faith
is final and conclusive. </P>
<P align=justify>11.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On a poll, a shareholder
entitled to more than one vote need not cast all the votes in the same way. </P>
<P align=justify>11.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No poll may be demanded in
respect of the vote by which a chair of a meeting of shareholders is elected.
</P>
<P align=justify>11.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The demand for a poll at a
meeting of shareholders does not, unless the chair of the meeting so rules,
prevent the continuation of a meeting for the transaction of any business other
than the question on which a poll had been demanded. </P>
<P align=justify>11.23&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;The Company must, for at
least three months after a meeting of shareholders, keep each ballot cast on a
poll and each proxy voted at the meeting at its records office, and, during that
period, makes them available for inspection during normal business hours by any shareholder or proxy holder
entitled to vote at the meeting. At the end of such three month period, the
Company may destroy such ballots and proxies. </P>
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<P align=justify><B><I>Votes of Shareholders <BR>Part 12 of the Articles
</I></B></P>
<P align=justify>12.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to any special
rights or restrictions attached to any shares and to the restrictions imposed on
joint shareholders under Article 12.3: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>on a vote by a show of hands, every person present who is
      a shareholder or proxy holder and entitled to vote on the matter has one
      vote; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>on a poll, every shareholder entitled to vote on the
      matter has one vote in respect of each share entitled to be voted on the
      matter and held by that shareholder and may exercise that vote either in
      person or by proxy.</P></TD></TR></TABLE>
<P align=justify><B><I>Other Issues </I></B></P>
<P align=justify>Neither the Company&#146;s articles nor British Columbia law permit:
staggered terms for Directors; cumulative voting; shareholder approval of
corporate matter by written consent; the adoption of various &#147;poison pill&#148;
measures precluding shareholders from realizing a potential premium over the
market value of their shares. Neither the Company&#146;s articles nor British
Columbia law require retirement or non-retirement of directors under an age
limit requirement. </P>
<P align=justify>There are no limitations on the rights to own securities. </P>
<P align=justify>There is no provision of the Company&#146;s articles that would have
an effect of delaying, deferring or preventing a change in control of the
Company and that would operate only with respect to a merger, acquisition or
corporate restructuring involving the Company (or any of its subsidiaries). </P>
<P align=justify>Shareholder ownership must be disclosed to the British Columbia
Securities Commission and the TSX-V by any shareholder who owns more than 10% of
the Company&#146;s common stock. </P>
<P align=justify><B><U>10.C. Material Contracts</U></B></P>
<P align=justify>Pursuant to a management service agreement dated February 13,
2014 as amended December 1, 2015 between the Company and Seabord Services Corp.
of Suite 501, 543 Granville Street, Vancouver, British Columbia, the Corporation
pays $29,800 per month to Seabord in consideration of Seabord providing the
services of the CFO and Corporate Secretary and office, reception, secretarial,
accounting and corporate records services to the Company. The Chief Financial
Officer and Corporate Secretary are employees of Seabord and are not paid
directly by the Company. </P>
<P align=justify>Seabord is a private company wholly-owned by Michael D. Winn,
the Chairman and director of the Company. </P>
<P align=justify><B><U>10.D. Exchange Controls</U></B></P>
<P align=justify>Canada has no system of exchange controls. There are no
Canadian restrictions on the repatriation of capital or earnings of a Canadian
public company to non-resident investors. There are no laws in Canada or
exchange restrictions affecting the remittance of dividends, profits, interest,
royalties and other payments to non-resident holders of the Company&#146;s
securities, except as discussed in Item 10, &#148;Taxation" below. </P>
<P align=justify><B>Restrictions on Share Ownership by Non-Canadians -</B> There
are no limitations under the laws of Canada or in the organizing documents of
the Company on the right of foreigners to hold or vote securities of the
Company, except that the Investment Canada Act may require review and approval
by the Minister of Industry (Canada) of certain acquisitions of "control" of the
Company by a "non-Canadian". The threshold for acquisitions of control is
generally defined as being one-third or more of the voting shares of the
Company. "Non-Canadian" generally means an individual who is not a Canadian
citizen, or a Company, partnership, trust or joint venture that is ultimately
controlled by non-Canadians. </P>
<P align=justify><B><U>10.E. Taxation</U></B></P>
<P align=justify><U>Canadian Federal Income Tax Considerations</U><B> </B></P>
<P align=justify>The following is a brief summary of some of the principal
Canadian federal income tax consequences to a holder of common shares of the
Company (a "U.S. Holder") who deals at arm's length with the Company, holds the
shares as capital property and who, for the purposes of the Income Tax Act (Canada) (the
"Act") and the Canada &#150; United States Income Tax Convention (the "Treaty"), is
at all relevant times resident in the United States, is not and is not deemed to
be resident in Canada and does not use or hold and is not deemed to use or hold
the shares in carrying on a business in Canada. Special rules, which are not
discussed below, may apply to a U.S. Holder that is an insurer that carries on
business in Canada and elsewhere. </P>
<P align=right>92 </P>
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<P align=justify>Under the Act and the Treaty, a U.S. Holder of common shares
will generally be subject to a 15% withholding tax on dividends paid or credited
or deemed by the Act to have been paid or credited on such shares. The
withholding tax rate is 5% where the U.S. Holder is a Company that beneficially
owns at least 10% of the voting shares of the Company and the dividends may be
exempt from such withholding in the case of some U.S. Holders such as qualifying
pension funds and charities. </P>
<P align=justify>In general, a U.S. Holder will not be subject to Canadian
income tax on capital gains arising on the disposition of shares of the Company
unless (i) at any time in the five-year period immediately preceding the
disposition, 25% or more of the shares of any class or series of the capital
stock of the Company was owned by (or was under option of or subject to an
interest of) the U.S. holder or persons with whom the U.S. holder did not deal
at arm's length, and (ii) the value of the common shares of the Company at the
time of the disposition derives principally from real property (as defined in
the Treaty) situated in Canada. For this purpose, the Treaty defines real
property situated in Canada to include rights to explore for or exploit mineral
deposits and other natural resources situated in Canada, rights to amounts
computed by reference to the amount or value of production from such resources,
certain other rights in respect of natural resources situated in Canada and
shares of a Company the value of whose shares is derived principally from real
property situated in Canada. </P>
<P align=justify>The US Internal Revenue Code provides special anti-deferral
rules regarding certain distributions received by US persons with respect to,
and sales and other dispositions (including pledges) of stock of, a passive
foreign investment company. A foreign Company, such as the Company, will be
treated as a passive foreign investment company if 75% or more of its gross
income is passive income for a taxable year or if the average percentage of its
assets (by value) that produce, or are held for the production of, passive
income is at least 50% for a taxable year. The Company believes that it was a
passive foreign investment company as at December 31, 2016. </P>
<P align=justify><U>Dividends</U> </P>
<P align=justify>A Holder will be subject to Canadian withholding tax ("Part
XIII Tax") equal to 25%, or such lower rate as may be available under an
applicable tax treaty, of the gross amount of any dividend paid or deemed to be
paid on common shares. Under the Canada-U.S. Income Tax Convention (1980) as
amended by the Protocols signed on 6/14/1983, 3/28/1984, 3/17/1995, and
7/29/1997 (the "Treaty"), the rate of Part XIII Tax applicable to a dividend on
common shares paid to a Holder who is a resident of the United States and who is
the beneficial owner of the dividend, is 5%. If the Holder is a company that
owns at least 10% of the voting stock of the Company paying the dividend, and,
in all other cases, the tax rate is 15% of the gross amount of the dividend. The
Company will be required to withhold the applicable amount of Part XIII Tax from
each dividend so paid and remit the withheld amount directly to the Receiver
General for Canada for the account of the Holder. </P>
<P align=justify><U>Disposition of Common Shares</U></P>
<P align=justify>A Holder who disposes of a common share, including by deemed
disposition on death, will not normally be subject to Canadian tax on any
capital gain (or capital loss) thereby realized unless the common share
constituted "taxable Canadian property" as defined by the <I>Tax Ac</I>t.
Generally, a common share of a public Company will not constitute taxable
Canadian property of a Holder if the share is listed on a prescribed stock
exchange unless the Holder or persons with whom the Holder did not deal at arm's
length alone or together held or held options to acquire, at any time within the
five years preceding the disposition, 25% or more of the shares of any class of
the capital stock of the Company. The Canadian Venture Exchange is a prescribed
stock exchange under the <I>Tax Ac</I>t. A Holder who is a resident of the
United States and realizes a capital gain on a disposition of a common share
that was taxable Canadian property will nevertheless, by virtue of the Treaty,
generally be exempt from Canadian tax thereon unless (a) more than 50% of the
value of the common shares is derived from, or from an interest in, Canadian
real estate, including Canadian mineral resource properties, (b) the common
share formed part of the business property of a permanent establishment that the
Holder has or had in Canada within the 12 month period preceding the
disposition, or (c) the Holder is an individual who (i) was a resident of Canada
at any time during the 10 years immediately preceding the disposition, and for a
total of 120 months during any period of 20 consecutive years, preceding the
disposition, and (ii) owned the common share when he ceased to be resident in
Canada. </P>
<P align=justify>A Holder who is subject to Canadian tax in respect of a capital
gain realized on a disposition of a common share must include three quarters of
the capital gain (taxable capital gain) in computing the Holder's taxable income
earned in Canada. The Holder may, subject to certain limitations, deduct
three-quarters of any capital loss (allowable capital loss) arising on a
disposition of taxable Canadian property from taxable capital gains realized in
the year of disposition in respect to taxable Canadian property and, to the extent not so deductible, from
such taxable capital gains realized in any of the three preceding years or any
subsequent year. </P>
<P align=right>93 </P>
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<P align=justify><U>Certain United States Federal Income Tax Considerations</U>
</P>
<P align=justify>The following is a general summary of certain material U.S.
federal income tax considerations applicable to a U.S. Holder (as defined below)
arising from and relating to the acquisition, ownership, and disposition of
common shares. </P>
<P align=justify>This summary is for general information purposes only and does
not purport to be a complete analysis or listing of all potential U.S. federal
income tax considerations that may apply to a U.S. Holder arising from and
relating to the acquisition, ownership, and disposition of common shares. In
addition, this summary does not take into account the individual facts and
circumstances of any particular U.S. Holder that may affect the U.S. federal
income tax consequences to such U.S. Holder, including specific tax consequences
to a U.S. Holder under an applicable tax treaty. Accordingly, this summary is
not intended to be, and should not be construed as, legal or U.S. federal income
tax advice with respect to any U.S. Holder. This summary does not address the
U.S. federal alternative minimum, U.S. federal estate and gift, U.S. state and
local, and non-U.S. tax consequences to U.S. Holders of the acquisition,
ownership, and disposition of common shares. Except as specifically set forth
below, this summary does not discuss applicable tax reporting requirements. Each
U.S. Holder should consult its own tax advisor regarding the U.S. federal, U.S.
federal alternative minimum, U.S. federal estate and gift, U.S. state and local,
and non-U.S. tax consequences relating to the acquisition, ownership and
disposition of common shares. </P>
<P align=justify>No legal opinion from U.S. legal counsel or ruling from the
Internal Revenue Service (the "IRS") has been requested, or will be obtained,
regarding the U.S. federal income tax consequences of the acquisition,
ownership, and disposition of common shares. This summary is not binding on the
IRS, and the IRS is not precluded from taking a position that is different from,
and contrary to, the positions taken in this summary. In addition, because the
authorities on which this summary is based are subject to various
interpretations, the IRS and the U.S. courts could disagree with one or more of
the positions taken in this summary. </P>
<P align=justify><B>Scope of this Summary </B></P>
<P align=justify><U>Authorities</U> </P>
<P align=justify>This summary is based on the Internal Revenue Code of 1986, as
amended (the "Code"), Treasury Regulations (whether final, temporary, or
proposed), published rulings of the IRS, published administrative positions of
the IRS, the Treaty, and U.S. court decisions that are applicable and, in each
case, as in effect and available, as of the date of this document. Any of the
authorities on which this summary is based could be changed in a material and
adverse manner at any time, and any such change could be applied on a
retroactive or prospective basis which could affect the U.S. federal income tax
considerations described in this summary. This summary does not discuss the
potential effects, whether adverse or beneficial, of any proposed legislation
that, if enacted, could be applied on a retroactive or prospective basis. </P>
<P align=justify><U>U.S. Holders</U> </P>
<P align=justify>For purposes of this summary, the term "U.S. Holder" means a
beneficial owner of common shares that is for U.S. federal income tax purposes:
</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>an individual who is a citizen or resident of the U.S.; </P>
  <LI>
  <P>a corporation (or other entity taxable as a corporation for U.S. federal
  income tax purposes) organized under the laws of the U.S., any state thereof
  or the District of Columbia; </P>
  <LI>
  <P>an estate whose income is subject to U.S. federal income taxation
  regardless of its source; or </P>
  <LI>
  <P>a trust that (1) is subject to the primary supervision of a court within
  the U.S. and the control of one or more U.S. persons for all substantial
  decisions or (2) has a valid election in effect under applicable Treasury
  Regulations to be treated as a U.S. person. </P></LI></UL>
<P align=justify><U>Non-U.S. Holders</U> </P>
<P align=justify>For purposes of this summary, a "non-U.S. Holder" is a
beneficial owner of common shares that is not a U.S. Holder or is a partnership.
This summary does not address the U.S. federal income tax consequences to
non-U.S. Holders arising from and relating to the acquisition, ownership, and
disposition of common shares. Accordingly, a non-U.S. Holder should consult its
own tax advisor regarding the U.S. federal, U.S. federal alternative minimum,
U.S. federal estate and gift, U.S. state and local, and non-U.S. tax consequences (including the potential
application of and operation of any income tax treaties) relating to the
acquisition, ownership, and disposition of common shares. </P>
<P align=right>94 </P>
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<P align=justify><U>U.S. Holders Subject to Special U.S. Federal Income Tax
Rules Not Addressed</U> </P>
<P align=justify>This summary does not address the U.S. federal income tax
considerations applicable to U.S. Holders that are subject to special provisions
under the Code, including, but not limited to, U.S. Holders that: (a) are
tax-exempt organizations, qualified retirement plans, individual retirement
accounts, or other tax-deferred accounts; (b) are financial institutions,
underwriters, insurance companies, real estate investment trusts, or regulated
investment companies; (c) are broker-dealers, dealers, or traders in securities
or currencies that elect to apply a mark-to-market accounting method; (d) have a
"functional currency" other than the U.S. dollar; (e) own common shares as part
of a straddle, hedging transaction, conversion transaction, constructive sale,
or other arrangement involving more than one position; (f) acquired common
shares in connection with the exercise of employee stock options or otherwise as
compensation for services; (g) hold common shares other than as a capital asset
within the meaning of Section 1221 of the Code (generally, property held for
investment purposes); (h) are required to accelerate the recognition of any item
of gross income with respect to Securities as a result of such income being
recognized on an applicable financial statement; or (i) own or have owned
(directly, indirectly, or by attribution) 10% or more of the total combined
voting power or value of the outstanding shares of EMX . This summary also does
not address the U.S. federal income tax considerations applicable to U.S.
Holders who are: (a) U.S. expatriates or former long-term residents of the U.S.;
(b) persons that have been, are, or will be a resident or deemed to be a
resident in Canada for purposes of the Act; (c) persons that use or hold, will
use or hold, or that are or will be deemed to use or hold common shares in
connection with carrying on a business in Canada; (d) persons whose common
shares constitute "taxable Canadian property" under the Act; or (e) persons that
have a permanent establishment in Canada for the purposes of the Treaty. U.S.
Holders that are subject to special provisions under the Code, including, but
not limited to, U.S. Holders described immediately above, should consult their
own tax advisor regarding the U.S. federal, U.S. federal alternative minimum,
U.S. federal estate and gift, U.S. state and local, and non-U.S. tax
consequences relating to the acquisition, ownership and disposition of common
shares. </P>
<P align=justify>If an entity or arrangement that is classified as a partnership
(or "pass-through" entity) for U.S. federal income tax purposes holds common
shares, the U.S. federal income tax consequences to such partnership and the
partners (or owners) of such partnership generally will depend on the activities
of the partnership and the status of such partners (or owners). This summary
does not address the tax consequences to any such partnership or partner (or
owner). Partners (or owners) of entities or arrangements that are classified as
partnerships for U.S. federal income tax purposes should consult their own tax
advisors regarding the U.S. federal income tax consequences arising from and
relating to the acquisition, ownership, and disposition of common shares. </P>
<P align=justify><B>Passive Foreign Investment Company Rules </B></P>
<P align=justify>If EMX were to constitute a "passive foreign investment
company" (a &#147;PFIC&#148;), as defined below, within the meaning of Section 1297 of the
Code, for any year during a U.S. Holder&#146;s holding period, then certain different
and potentially adverse rules will affect the U.S. federal income tax
consequences to a U.S. Holder resulting from the acquisition, ownership and
disposition of common shares. In addition, in any year in which EMX is
classified as a PFIC, such holder will be required to file an annual report with
the IRS containing such information as Treasury Regulations or other IRS
guidance may require. A failure to satisfy such reporting requirements may
result in an extension of the time period during which the IRS can assess a tax.
U.S. Holders should consult their own tax advisors regarding the requirements of
filing such information returns under these rules, including the requirement to
file an IRS Form 8621. </P>
<P align=justify><U>PFIC Status of EMX</U></P>
<P align=justify>EMX generally will be a PFIC if, for a tax year, (a) 75% or
more of the gross income of EMX is passive income (the "income test"), or (b)
50% or more of the value of EMX &#146;s assets either produce passive income or are
held for the production of passive income, based on the quarterly average of the
fair market value of such assets (the "asset test"). "Gross income" generally
includes all sales revenues less the cost of goods sold, plus income from
investments and from incidental or outside operations or sources, and "passive
income" generally includes, for example, dividends, interest, certain rents and
royalties, certain gains from the sale of stock and securities, and certain
gains from commodities transactions. </P>
<P align=justify>Active business gains arising from the sale of commodities
generally are excluded from passive income if substantially all (85% or more) of
a foreign corporation&#146;s commodities are stock in trade of such foreign
corporation or other property of a kind which would properly be included in
inventory of such foreign corporation, or property held by such foreign
corporation primarily for sale to customers in the ordinary course of business
and certain other requirements are satisfied. </P>
<P align=right>95 </P>
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<P align=justify>For purposes of the PFIC income test and asset test described
above, if EMX owns, directly or indirectly, 25% or more of the total value of
the outstanding shares of another corporation, EMX will be treated as if it (a)
held a proportionate share of the assets of such other corporation and (b)
received directly a proportionate share of the income of such other corporation.
In addition, for purposes of the PFIC income test and asset test described
above, and assuming certain other requirements are met, "passive income" does
not include certain interest, dividends, rents, or royalties that are received
or accrued by EMX from certain "related persons" (as defined in Section
954(d)(3) of the Code), to the extent such items are properly allocable to the
income of such related person that is not passive income. </P>
<P align=justify>EMX currently expects that it will be classified as a passive
foreign investment company (&#147;PFIC&#148;) for the tax year ending December 31, 2018
and expects to be a PFIC in future tax years. No opinion of legal counsel or
ruling from the IRS concerning the status of EMX as a PFIC has been obtained or
is currently planned to be requested. The determination of whether any
corporation was, or will be, a PFIC for a tax year depends, in part, on the
application of complex U.S. federal income tax rules, which are subject to
differing interpretations. In addition, whether any corporation will be a PFIC
for any tax year depends on the assets and income of such corporation over the
course of each such tax year and, as a result, cannot be predicted with
certainty as of the date of this document. Accordingly, there can be no
assurance that the IRS will not challenge any determination made by EMX
concerning its PFIC status. Each U.S. Holder should consult its own tax advisor
regarding the PFIC status of EMX . </P>
<P align=justify><U>Default PFIC Rules Under Section 1291 of the Code</U> </P>
<P align=justify>If EMX is a PFIC, the U.S. federal income tax consequences to a
U.S. Holder of the acquisition, ownership, and disposition of common shares will
depend on whether such U.S. Holder makes an election to treat EMX as a
"qualified electing fund", or "QEF", under Section 1295 of the Code, or a "QEF
Election", or a mark-to-market election under Section 1296 of the Code, or a
"Mark-to-Market Election". A U.S. Holder that does not make either a QEF
Election or a Mark-to-Market Election will be referred to in this summary as a
"Non-Electing U.S. Holder". </P>
<P align=justify>A Non-Electing U.S. Holder will be subject to the rules of
Section 1291 of the Code with respect to, (a) any gain recognized on the sale or
other taxable disposition of common shares, and (b) any excess distribution
received on common shares. A distribution generally will be an "excess
distribution" to the extent that such distribution (together with all other
distributions received in the current tax year) exceeds 125% of the average
distributions received during the three preceding tax years (or during a U.S.
Holder&#146;s holding period for common shares, if shorter). </P>
<P align=justify>Under Section 1291 of the Code, any gain recognized on the sale
or other taxable disposition of common shares and any "excess distribution"
received on common shares must be ratably allocated to each day in a
Non-Electing U.S. Holder&#146;s holding period for the respective common shares. The
amount of any such gain or excess distribution allocated to the tax year of
disposition or distribution of the excess distribution and to years before the
entity became a PFIC, if any, would be taxed as ordinary income. The amounts
allocated to any other tax year would be subject to U.S. federal income tax at
the highest tax rate applicable to ordinary income in each such year, and an
interest charge would be imposed on the tax liability for each such year,
calculated as if such tax liability had been due in each such year. A
Non-Electing U.S. Holder that is not a corporation must treat any such interest
paid as "personal interest", which is not deductible. </P>
<P align=justify>If EMX is a PFIC for any tax year during which a Non-Electing
U.S. Holder holds common shares, EMX will continue to be treated as a PFIC with
respect to such Non-Electing U.S. Holder, regardless of whether EMX ceases to be
a PFIC in one or more subsequent tax years. A Non-Electing U.S. Holder may
terminate this deemed PFIC status by electing to recognize gain (which will be
taxed under the rules of Section 1291 of the Code discussed above), but not
loss, as if such common shares were sold on the last day of the last tax year
for which EMX was a PFIC. </P>
<P align=justify><U>QEF Election</U> </P>
<P align=justify>A U.S. Holder that makes a timely and effective QEF Election
for the first tax year in which its holding period of its common shares begins
generally will not be subject to the rules of Section 1291 of the Code discussed
above with respect to its common shares. A U.S. Holder that makes a timely and
effective QEF Election will be subject to U.S. federal income tax on such U.S.
Holder&#146;s pro rata share of, (a) the net capital gain of EMX, which will be taxed
as long-term capital gain to such U.S. Holder, and (b) the ordinary earnings of
EMX, which will be taxed as ordinary income to such U.S. Holder. Generally, "net
capital gain" is the excess of (i) net long-term capital gain over (ii) net
short-term capital loss, and "ordinary earnings" are the excess of (i) "earnings
and profits" over (ii) net capital gain. A U.S. Holder that makes a QEF Election
will be subject to U.S. federal income tax on such amounts for each tax year in
which EMX is a PFIC, regardless of whether such amounts are actually distributed
to such U.S. Holder by EMX. However, for any tax year in which EMX is a PFIC and
has no net income or gain, U.S. Holders that have made a QEF Election would not
have any income inclusions as a result of the QEF Election. If a U.S. Holder
that made a QEF Election has an income inclusion, such U.S. Holder may, subject
to certain limitations, elect to defer payment of current U.S. federal
income tax on such amounts, subject to an interest charge. If such U.S. Holder
is not a corporation, any such interest paid will be treated as "personal
interest", which is not deductible. </P>
<P align=right>96 </P>
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<P align=justify>A U.S. Holder that makes a timely and effective QEF Election
with respect to EMX generally, (a) may receive a tax-free distribution from EMX
to the extent that such distribution represents "earnings and profits" of EMX
that were previously included in income by the U.S. Holder because of such QEF
Election, and (b) will adjust such U.S. Holder&#146;s tax basis in common shares to
reflect the amount included in income or allowed as a tax-free distribution
because of such QEF Election. In addition, a U.S. Holder that makes a QEF
Election generally will recognize capital gain or loss on the sale or other
taxable disposition of common shares. </P>
<P align=justify>The procedure for making a QEF Election, and the U.S. federal
income tax consequences of making a QEF Election, will depend on whether such
QEF Election is timely. A QEF Election will be treated as "timely" if such QEF
Election is made for the first year in the U.S. Holder&#146;s holding period for
common shares in which EMX was a PFIC. A U.S. Holder may make a timely QEF
Election by filing the appropriate QEF Election documents at the time such U.S.
Holder files a U.S. federal income tax return for such year. If a U.S. Holder
does not make a timely and effective QEF Election for the first year in the U.S.
Holder&#146;s holding period for common shares, the U.S. Holder may still be able to
make a timely and effective QEF Election in a subsequent year if such U.S.
Holder also makes a "purging" election to recognize gain (which will be taxed
under the rules of Section 1291 of the Code discussed above) as if such common
shares were sold for their fair market value on the day the QEF Election is
effective. </P>
<P align=justify>A QEF Election will apply to the tax year for which such QEF
Election is timely made and to all subsequent tax years, unless such QEF
Election is invalidated or terminated or the IRS consents to revocation of such
QEF Election. If a U.S. Holder makes a QEF Election and, in a subsequent tax
year, EMX ceases to be a PFIC, the QEF Election will remain in effect (although
it will not be applicable) during those tax years in which EMX is not a PFIC.
Accordingly, if EMX becomes a PFIC in another subsequent tax year, the QEF
Election will be effective and the U.S. Holder will be subject to the QEF rules
described above during any subsequent tax year in which EMX qualifies as a PFIC.
</P>
<P align=justify>For each tax year that EMX qualifies as a PFIC, EMX intends to:
(a) make available to U.S. Holders, upon their written request, a &#147;PFIC Annual
Information Statement&#148; as described in Treasury Regulation Section 1.1295 -1(g)
(or any successor Treasury Regulation) and (b) upon written request, use
commercially reasonable efforts to provide all additional information that such
U.S. Holder is required to obtain in connection with maintaining such QEF
Election with regard to EMX. EMX may elect to provide such information on its
website, <font color="#0000FF"><u>www.EMXRoyalty.com</u></font>. Each U.S. Holder should consult its own tax advisor
regarding the availability of, and procedure for making, a QEF Election. </P>
<P align=justify>A U.S. Holder makes a QEF Election by attaching a completed IRS
Form 8621, including a PFIC Annual Information Statement, to a timely filed U.S.
federal income tax return. However, if EMX does not provide the required
information with regard to EMX, U.S. Holders will not be able to make a QEF
Election for such entity and will continue to be subject to the rules of Section
1291 of the Code discussed above that apply to Non-Electing U.S. Holders with
respect to the taxation of gains and excess distributions. </P>
<P align=justify><U>Mark-to-Market Election</U> </P>
<P align=justify>A U.S. Holder may make a Mark-to-Market Election only if the
common shares are marketable stock. Common shares generally will be "marketable
stock" if the common shares are regularly traded on, (a) a national securities
exchange that is registered with the SEC, (b) the national market system
established pursuant to section 11A of the U.S. Exchange Act, or (c) a foreign
securities exchange that is regulated or supervised by a governmental authority
of the country in which the market is located, provided that, (i) such foreign
exchange has trading volume, listing, financial disclosure, and meets other
requirements and the laws of the country in which such foreign exchange is
located, together with the rules of such foreign exchange, ensure that such
requirements are actually enforced, and (ii) the rules of such foreign exchange
ensure active trading of listed stocks. If EMX&#146;s common shares are traded on
such a qualified exchange or other market, the common shares generally will be
"regularly traded" for any calendar year during which common shares are traded,
other than in de minimis quantities, on at least 15 days during each calendar
quarter. </P>
<P align=justify>A U.S. Holder that makes a Mark-to-Market Election with respect
to its common shares generally will not be subject to the rules of Section 1291
of the Code discussed above with respect to such common shares. However, if a
U.S. Holder does not make a Mark-to-Market Election beginning in the first tax
year of such U.S. Holder&#146;s holding period for common shares or such U.S. Holder
has not made a timely QEF Election, the rules of Section 1291 of the Code
discussed above will apply to certain dispositions of, and distributions on,
common shares. </P>
<P align=right>97 </P>
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<P align=justify>A U.S. Holder that makes a Mark-to-Market Election will include
in ordinary income, for each tax year in which EMX is a PFIC, an amount equal to
the excess, if any, of (i) the fair market value of common shares, as of the
close of such tax year over (ii) such U.S. Holder&#146;s tax basis in such common
shares. A U.S. Holder that makes a Mark-to-Market Election will be allowed a
deduction in an amount equal to the excess, if any, of (i) such U.S. Holder&#146;s
adjusted tax basis in common shares, over (ii) the fair market value of such
common shares (but only to the extent of the net amount of previously included
income as a result of the Mark-to-Market Election for prior tax years). </P>
<P align=justify>A U.S. Holder that makes a Mark-to-Market Election generally
also will adjust such U.S. Holder&#146;s tax basis in common shares to reflect the
amount included in gross income or allowed as a deduction because of such
Mark-to-Market Election. In addition, upon a sale or other taxable disposition
of common shares, a U.S. Holder that makes a Mark-to-Market Election will
recognize ordinary income or ordinary loss (not to exceed the excess, if any, of
(i) the amount included in ordinary income because of such Mark-to-Market
Election for prior tax years over (ii) the amount allowed as a deduction because
of such Mark-to-Market Election for prior tax years). </P>
<P align=justify>A U.S. Holder makes a Mark-to-Market Election by attaching a
completed IRS Form 8621 to a timely filed U.S. federal income tax return. A
Mark-to-Market Election applies to the tax year in which such Mark-to-Market
Election is made and to each subsequent tax year, unless common shares cease to
be "marketable stock" or the IRS consents to revocation of such election. Each
U.S. Holder should consult its own tax advisor regarding the availability of,
and procedure for making, a Mark-to-Market Election. </P>
<P align=justify><U>Other PFIC Rules</U> </P>
<P align=justify>Under Section 1291(f) of the Code, the IRS has issued proposed
Treasury Regulations that, subject to certain exceptions, would cause a U.S.
Holder that had not made a timely QEF Election to recognize gain (but not loss)
upon certain transfers of common shares that would otherwise be tax-deferred
(e.g., gifts and exchanges pursuant to corporate reorganizations). However, the
specific U.S. federal income tax consequences to a U.S. Holder may vary based on
the manner in which common shares are transferred. </P>
<P align=justify>Certain additional adverse rules will apply with respect to a
U.S. Holder if EMX is a PFIC, regardless of whether such U.S. Holder makes a QEF
Election. For example under Section 1298(b)(6) of the Code, a U.S. Holder that
uses common shares as security for a loan will, except as may be provided in
Treasury Regulations, be treated as having made a taxable disposition of such
common shares. </P>
<P align=justify>Special rules also apply to the amount of foreign tax credit
that a U.S. Holder may claim on a distribution from a PFIC. Subject to such
special rules, foreign taxes paid with respect to any distribution in respect of
stock in a PFIC are generally eligible for the foreign tax credit. The rules
relating to distributions by a PFIC and their eligibility for the foreign tax
credit are complicated, and a U.S. Holder should consult with their own tax
advisor regarding the availability of the foreign tax credit with respect to
distributions by a PFIC. </P>
<P align=justify>The PFIC rules are complex, and each U.S. Holder should consult
its own tax advisor regarding the PFIC rules and how the PFIC rules may affect
the U.S. federal income tax consequences of the acquisition, ownership, and
disposition of common shares. </P>
<P align=justify><B>Ownership and Disposition of Common Shares </B></P>
<P align=justify>The following discussion is subject to the rules described
above under the heading "Passive Foreign Investment Company Rules". </P>
<P align=justify><U>Distributions on Common Shares</U> </P>
<P align=justify>Subject to the PFIC rules discussed above, a U.S. Holder that
receives a distribution, including a constructive distribution, with respect to
common shares will be required to include the amount of such distribution in
gross income as a dividend (without reduction for any Canadian income tax
withheld from such distribution) to the extent of the current or accumulated
"earnings and profits" of EMX, as computed for U.S. federal income tax purposes.
A dividend generally will be taxed to a U.S. Holder at ordinary income tax rates
if EMX is a PFIC. To the extent that a distribution exceeds the current and
accumulated "earnings and profits" of EMX, such distribution will be treated
first as a tax-free return of capital to the extent of a U.S. Holder's tax basis
in common shares and thereafter as gain from the sale or exchange of such common
shares. See "Sale or Other Taxable Disposition of Common Shares" below. However,
EMX may not maintain the calculations of earnings and profits in accordance with
U.S. federal income tax principles, and each U.S. Holder should therefore assume
that any distribution by EMX with respect to common shares will constitute
ordinary dividend income. Dividends received on common shares generally will not be eligible for the
"dividends received deduction". Subject to applicable limitations and provided
EMX is eligible for the benefits of the Treaty, dividends paid by EMX to
non-corporate U.S. Holders, including individuals, generally will be eligible
for the preferential tax rates applicable to long-term capital gains for
dividends, provided certain holding period and other conditions are satisfied,
including that EMX not be classified as a PFIC in the tax year of distribution
or in the preceding tax year. The dividend rules are complex, and each U.S.
Holder should consult its own tax advisor regarding the application of such
rules. </P>
<P align=right>98 </P>
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<P align=justify><U>Sale or Other Taxable Disposition of Common Shares</U> </P>
<P align=justify>Subject to the PFIC rules discussed above, upon the sale or
other taxable disposition of common shares, a U.S. Holder generally will
recognize capital gain or loss in an amount equal to the difference between the
amount of cash plus the fair market value of any property received and such U.S.
Holder's tax basis in such common shares sold or otherwise disposed of. Subject
to the PFIC rules discussed above, gain or loss recognized on such sale or other
disposition generally will be long-term capital gain or loss if, at the time of
the sale or other disposition, common shares have been held for more than one
year. </P>
<P align=justify>Preferential tax rates apply to long-term capital gain of a
U.S. Holder that is an individual, estate, or trust. There are currently no
preferential tax rates for long-term capital gain of a U.S. Holder that is a
corporation. Deductions for capital losses are subject to significant
limitations under the Code. </P>
<P align=justify><B>Additional Considerations </B></P>
<P align=justify><U>Additional Tax on Passive Income</U> </P>
<P align=justify>Certain U.S. Holders that are individuals, estates or trusts
(other than trusts that are exempt from tax) will be subject to a 3.8% tax on
all or a portion of their "net investment income", which includes dividends on
the common shares and net gains from the disposition of the common shares.
Further, excess distributions treated as dividends, gains treated as excess
distributions under the PFIC rules discussed above, and mark-to-market
inclusions and deductions are all included in the calculation of net investment
income. </P>
<P align=justify>Treasury Regulations provide, subject to the election described
in the following paragraph, that solely for purposes of this additional tax,
that distributions of previously taxed income will be treated as dividends and
included in net investment income subject to the additional 3.8% tax.
Additionally, to determine the amount of any capital gain from the sale or other
taxable disposition of common shares that will be subject to the additional tax
on net investment income, a U.S. Holder who has made a QEF Election will be
required to recalculate its basis in the common shares excluding QEF basis
adjustments.</P>
<P align=justify>Alternatively, a U.S. Holder may make an election which will be
effective with respect to all interests in a PFIC for which a QEF Election has
been made and which is held in that year or acquired in future years. Under this
election, a U.S. Holder pays the additional 3.8% tax on QEF income inclusions
and on gains calculated after giving effect to related tax basis adjustments.
U.S. Holders that are individuals, estates or trusts should consult their own
tax advisors regarding the applicability of this tax to any of their income or
gains in respect of the common shares. </P>
<P align=justify><U>Receipt of Foreign Currency</U> </P>
<P align=justify>The amount of any distribution paid to a U.S. Holder in foreign
currency, or on the sale, exchange or other taxable disposition of common
shares, generally will be equal to the U.S. dollar value of such foreign
currency based on the exchange rate applicable on the date of receipt
(regardless of whether such foreign currency is converted into U.S. dollars at
that time). A U.S. Holder will have a basis in the foreign currency equal to its
U.S. dollar value on the date of receipt. Any U.S. Holder who converts or
otherwise disposes of the foreign currency after the date of receipt may have a
foreign currency exchange gain or loss that would be treated as ordinary income
or loss, and generally will be U.S. source income or loss for foreign tax credit
purposes. Different rules apply to U.S. Holders who use the accrual method. Each
U.S. Holder should consult its own U.S. tax advisors regarding the U.S. federal
income tax consequences of receiving, owning, and disposing of foreign currency.
</P>
<P align=justify><U>Foreign Tax Credit</U> </P>
<P align=justify>Subject to the PFIC rules discussed above, a U.S. Holder that
pays (whether directly or through withholding) Canadian income tax with respect
to dividends paid on common shares generally will be entitled, at the election
of such U.S. Holder, to receive either a deduction or a credit for such Canadian
income tax paid. Generally, a credit will reduce a U.S. Holder&#146;s U.S. federal
income tax liability on a dollar-for-dollar basis, whereas a deduction will
reduce a U.S. Holder&#146;s income subject to U.S. federal income tax. This election is made on a
year-by-year basis and applies to all foreign taxes paid (whether directly or
through withholding) by a U.S. Holder during a year. </P>
<P align=right>99 </P>
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<P align=justify>Complex limitations apply to the foreign tax credit, including
the general limitation that the credit cannot exceed the proportionate share of
a U.S. Holder&#146;s U.S. federal income tax liability that such U.S. Holder&#146;s
"foreign source" taxable income bears to such U.S. Holder&#146;s worldwide taxable
income. In applying this limitation, a U.S. Holder&#146;s various items of income and
deduction must be classified, under complex rules, as either "foreign source" or
"U.S. source". Generally, dividends paid by a foreign corporation should be
treated as foreign source for this purpose, and gains recognized on the sale of
stock of a foreign corporation by a U.S. Holder should be treated as U.S. source
for this purpose, except as otherwise provided in an applicable income tax
treaty, and if an election is properly made under the Code. However, the amount
of a distribution with respect to common shares that is treated as a "dividend"
may be lower for U.S. federal income tax purposes than it is for Canadian
federal income tax purposes, resulting in a reduced foreign tax credit allowance
to a U.S. Holder. In addition, this limitation is calculated separately with
respect to specific categories of income. The foreign tax credit rules are
complex, and each U.S. Holder should consult its own U.S. tax advisor regarding
the foreign tax credit rules. </P>
<P align=justify><U>Backup Withholding and Information Reporting</U> </P>
<P align=justify>Under U.S. federal income tax law and Treasury Regulations,
certain categories of U.S. Holders must file information returns with respect to
their investment in, or involvement in, a foreign corporation. For example, U.S.
return disclosure obligations (and related penalties) are imposed on individuals
who are U.S. Holders that hold certain specified foreign financial assets in
excess of certain threshold amounts. The definition of specified foreign
financial assets includes not only financial accounts maintained in foreign
financial institutions, but also, unless held in accounts maintained by a
financial institution, any stock or security issued by a non-U.S. person, any
financial instrument or contract held for investment that has an issuer or
counterparty other than a U.S. person and any interest in a foreign entity. U.S.
Holders may be subject to these reporting requirements unless their common
shares are held in an account at certain financial institutions. Penalties for
failure to file certain of these information returns are substantial. U.S.
Holders should consult with their own tax advisors regarding the requirements of
filing information returns, including the requirement to file an IRS Form 8938.
</P>
<P align=justify>Payments made within the U.S. or by a U.S. payor or U.S.
middleman, of dividends on, and proceeds arising from the sale or other taxable
disposition of, common shares will generally be subject to information reporting
and backup withholding tax, at the rate of 24%, if a U.S. Holder, (a) fails to
furnish such U.S. Holder&#146;s correct U.S. taxpayer identification number
(generally on IRS Form W-9), (b) furnishes an incorrect U.S. taxpayer
identification number, (c) is notified by the IRS that such U.S. Holder has
previously failed to properly report items subject to backup withholding tax, or
(d) fails to certify, under penalty of perjury, that such U.S. Holder has
furnished its correct U.S. taxpayer identification number and that the IRS has
not notified such U.S. Holder that it is subject to backup withholding tax.
However, certain exempt persons generally are excluded from these information
reporting and backup withholding rules. Any amounts withheld under the U.S.
backup withholding tax rules will be allowed as a credit against a U.S. Holder&#146;s
U.S. federal income tax liability, if any, or will be refunded, if such U.S.
Holder furnishes required information to the IRS in a timely manner.</P>
<P align=justify>The discussion of reporting requirements set forth above is not
intended to constitute a complete description of all reporting requirements that
may apply to a U.S. Holder. A failure to satisfy certain reporting requirements
may result in an extension of the time period during which the IRS can assess a
tax, and under certain circumstances, such an extension may apply to assessments
of amounts unrelated to any unsatisfied reporting requirement. Each U.S. Holder
should consult its own tax advisors regarding the information reporting and
backup withholding rules. </P>
<P align=justify><B><U>10.F. Dividends and Paying Agents</U></B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>10.G. Statement by Experts</U></B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>10.H. Documents on Display</U></B></P>
<P align=justify>Copies of the documents referenced in this annual report are
available at the Company&#146;s office located at Suite 501, 543 Granville Street,
Vancouver, British Columbia, Canada. </P>
<P align=justify><B><U>ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
MARKET RISK</U></B> </P>
<P align=justify><B>Credit Risk </B></P>
<P align=justify>The Company is exposed to credit risk by holding cash and cash
equivalents and receivables. This risk is minimized by holding a significant
portion of the funds in Canadian banks. The Company&#146;s exposure with respect to
its receivables is primarily related to royalty streams, recovery of exploration
evaluation costs, and convertible promissory notes. </P>
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<P align=justify><B>Interest Rate Risk </B></P>
<P align=justify>The Company is exposed to interest rate risk because of
fluctuating interest rates. Management believes the interest rate risk is low
given interest rates on promissory notes is fixed and the current low global
interest rate environment. Fluctuations in market rates is not expected to have
a significant impact on the Company&#146;s operations due to the short term to
maturity and no penalty cashable feature of its cash equivalents. </P>
<P align=justify><B>Market Risk </B></P>
<P align=justify>The Company is exposed to market risk because of the
fluctuating values of its publicly traded marketable securities and other
company investments. The Company has no control over these fluctuations and does
not hedge its investments. Based on the December 31, 2017<B> </B>portfolio
values, a 10% increase or decrease in effective market values would increase or
decrease net shareholders&#146; equity by approximately $334,000. </P>
<P align=justify><B>Liquidity Risk </B></P>
<P align=justify>Liquidity risk is the risk that the Company is unable to meet
its financial obligations as they come due. The Company manages this risk by
careful management of its working capital to ensure the Company&#146;s expenditures
will not exceed available resources. </P>
<P align=justify><B>Commodity Risk </B></P>
<P align=justify>The Company&#146;s royalty revenues are derived from a royalty
interest and are based on the extraction and sale of precious and base minerals
and metals. Factors beyond the control of the Company may affect the
marketability of metals discovered. Metal prices have historically fluctuated
widely. Consequently, the economic viability of the Company&#146;s royalty interests
cannot be accurately predicted and may be adversely affected by fluctuations in
mineral prices. </P>
<P align=justify><B>Currency Risk </B></P>
<P align=justify>Foreign exchange risk arises when future commercial
transactions and recognized assets and liabilities are denominated in a currency
that is not the entity&#146;s functional currency. The Company operates in Canada,
Turkey, Sweden, Australia and the U.S.A. The Company funds cash calls to its
subsidiary companies outside of Canada in US dollars and a portion of its
expenditures are also incurred in local currencies.</P>
<P align=justify><B><U>ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY
SECURITIES</U></B><B> </B></P>
<P align=justify>Not applicable. </P>
<P align=center><B>PART II </B></P>
<P align=justify><B><U>ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND
DELINQUENCIES</U></B><B> </B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY
HOLDERS AND USE OF</U></B><B> </B><B><U>PROCEEDS</U></B></P>
<P align=justify>Not applicable. </P>
<P align=right>101 </P>
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<P align=justify><B><U>ITEM 15. CONTROLS AND PROCEDURES</U></B><B> </B></P>
<P align=justify><B><U>Disclosure Controls and Procedures</U></B><B> </B></P>
<P align=justify>The Company&#146;s management is responsible for establishing and
maintaining disclosure controls and procedures to provide reasonable assurance
that material information related to the Company, including its consolidated
subsidiaries, is made known to senior management, including the Chief Executive
Officer (&#147;CEO&#148;) and the Chief Financial Officer (&#147;CFO&#148;), by others within those
entities on a timely basis so that appropriate decisions can be made regarding
public disclosure. </P>
<P align=justify>We carried out an evaluation, under the supervision and with
the participation of our management, including our Principal Executive Officer
and our Principal Financial Officer, of the effectiveness of the design and
operation of our disclosure controls and procedures (as defined in Rules
13a-15(e) and 15d-15(e)) under the Exchange Act) as of December 31, 2017. The
CEO and CFO concluded that the disclosure controls and procedures as of December
31, 2017, were effective to give reasonable assurance that the information
required to be disclosed by the Company in reports that it files or submits
under the Exchange Act is (i) recorded, processed, summarized and reported,
within the time periods specified in the SEC&#146;s rules and forms, and (ii)
accumulated and communicated to management, including the CEO and CFO, as
appropriate to allow timely decisions regarding required disclosure. </P>
<P align=justify><B><U>Management&#146;s Annual Report on Internal Control over
Financial Reporting</U></B></P>
<P align=justify>The Company&#146;s management is responsible for designing,
establishing and maintaining a system of internal controls over financial
reporting (as defined in Exchange Act Rule 13a-15(f)) to provide reasonable
assurance that the financial information prepared by the Company for external
purposes is reliable and has been recorded, processed and reported in an
accurate and timely manner in accordance with GAAP. The Board of Directors is
responsible for ensuring that management fulfills its responsibilities. The
Audit Committee fulfills its role of ensuring the integrity of the reported
information through its review of the interim and annual financial statements.
Management reviewed the results of their assessment with the Company&#146;s Audit
Committee. </P>
<P align=justify>Because of its inherent limitations, the Company&#146;s internal
control over financial reporting may not prevent or detect all possible
misstatements or frauds. Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with policies
or procedures may deteriorate. </P>
<P align=justify>To evaluate the effectiveness of the Company&#146;s internal control
over financial reporting, Management has used the Internal Control - Integrated
Framework (2013), which is a suitable, recognized control framework established
by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
Management has assessed the effectiveness of the Company&#146;s internal control over
financial reporting and concluded that such internal control over financial
reporting is effective as of December 31, 2017.</P>
<P align=justify><B><U>Limitations on the Effectiveness of Controls</U></B><B>
</B></P>
<P align=justify>The Company's management, including the CEO and CFO, does not
expect that our Disclosure Controls or our Internal Controls will prevent all
errors and all fraud. A control system, no matter how well designed and
operated, can provide only reasonable, not absolute, assurance that the
objectives of the control system are met. Further, the design of a control
system must reflect the fact that there are resource constraints, and the
benefits of controls must be considered relative to their costs. Because of the
inherent limitations in all control systems, no evaluation of controls can
provide absolute assurance that all control issues and instances of fraud, if
any, within the Company have been detected. These inherent limitations include
the realities that judgments in decision-making can be faulty, and that
breakdowns can occur because of simple error or mistake. Additionally, controls
can be circumvented by the individual acts of some persons, by collusion of two
or more people, or by management override of the control. The design of any
system of controls also is based in part upon certain assumptions about the
likelihood of future events, and there can be no assurance that any design will
succeed achieving its stated goals under all potential future conditions; over
time, control may become inadequate because of changes in conditions, or the
degree of compliance with the policies or procedures may deteriorate. Because of
the inherent limitations in a cost-effective control system, misstatements due
to error or fraud may occur and not be detected. </P>
<P align=justify><U>As a non-accelerated filer, the Company is not required to
provide the registered public accounting firm&#146;s attestation report</U> <U>on
management&#146;s assessment of the Company&#146;s internal control over financial
reporting.</U> </P>
<P align=justify><B><U>Changes in Internal Controls Over Financial
Reporting</U></B></P>
<P align=justify>There has been no change in the Company&#146;s internal control over
financial reporting that occurred during the period covered by this Form 20-F,
that has materially affected or is reasonably likely to materially affect, the
Company&#146;s internal control over financial reporting. </P>
<P align=right>102 </P>
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<P align=justify><B><U>ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT </U></B></P>
<P align=justify>The Company&#146;s Board has determined that Messrs. Levet, Bayley
and Okada qualify as audit committee financial experts (as defined in Item
407(d)(5) of Regulation S-K under the U.S. Exchange Act), are financially
sophisticated (as determined in accordance with Section 803B(2)(iii) of the NYSE
American Company Guide), and are independent (as determined under U.S. Exchange
Act Rule 10A-3 and Section 803A of the NYSE American Company Guide). </P>
<P align=justify><B><U>ITEM 16B. CODE OF ETHICS</U></B></P>
<P align=justify>The Board of Directors of the Company has responsibility for
the stewardship of the Company including responsibility for strategic planning,
identification of the principal risks of the Company&#146;s business and
implementation of appropriate systems to manage these risks, succession planning
(including appointing, training and monitoring senior management),
communications with investors and the financial community and the integrity of
the Company&#146;s internal control and management information systems. To facilitate
meeting this responsibility, the Board of Directors seeks to foster a culture of
ethical conduct by striving to ensure the Company carries out its business in
line with high business and moral standards and applicable legal and financial
requirements. In that regard, the Board has: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>adopted a written Code of Business Conduct and Ethics (the &#147;Code&#148;) for its
  directors, officers, employees and consultants and a written Code of Business
  Conduct and Ethics for its CEO and Senior Financial Officers.
  <LI>established a whistleblower policy which details complaint procedures for
  financial concerns. </LI></UL>
<P align=justify>Copies of the Code are available without charge to any person
upon request from the Company&#146;s CFO at <U><FONT
color=#0000ff>www.EMXRoyalty.com </FONT></U>or at the Company&#146;s headquarters
at Suite 501, 543 Granville Street, Vancouver, British Columbia, Canada V6C 1X8.
</P>
<P align=justify>The Board must also comply with the conflict of interest
provisions of the British Columbia <I>Business Corporations Act</I>, as well as
the relevant securities regulatory instruments, in order to ensure that
directors exercise independent judgment in considering transactions and
agreements in respect of which a director or Executive Officer has a material
interest. </P>
<P align=justify><B><U>ITEM 16C. PRINCIPAL ACCOUNTING FEES AND
SERVICES</U></B></P>
<P align=justify>The following table discloses the fees billed to the Company by
its external auditor during the last two financial years. </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Financial Year
      Ending </B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="20%"><B>Audit Fees </B><SUP>(1) </SUP></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="20%"><B>Audit-Related Fees </B><SUP>(2) </SUP></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="20%"><B>Tax Fees </B><SUP>(3) </SUP></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="20%"><B>All Other Fees </B></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>December 31, 2017
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="20%">$117,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="20%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="20%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="20%">0
  </TD></TR>
  <TR vAlign=top>
    <TD align=left>December 31, 2016 </TD>
    <TD align=center width="20%">$130,000 </TD>
    <TD align=center width="20%">$14,000 </TD>
    <TD align=center width="20%">0 </TD>
    <TD align=center width="20%">$450 </TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left><sup>(1) </sup> </TD>
    <TD align=left width="85%" >
      <P align=justify>The aggregate fees billed by the Company&#146;s auditor for
      audit fees. </P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD><sup>&nbsp; </sup> </TD>
    <TD width="85%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left><sup>(2) </sup> </TD>
    <TD align=left width="85%" >
      <P align=justify>The aggregate fees billed for assurance and related
      services by the Company&#146;s auditor that are reasonably related to the
      performance of the audit or review of the Company&#146;s financial statements
      and are not disclosed in the &#145;Audit Fees&#146; column. These fees are related
      to the auditor&#146;s reviews of the Company&#146;s Form 20F and the Company&#146;s first
      quarter interim financial statements in relation to the compliance and
      conversion to International Financial Reporting Standards. </P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD><sup>&nbsp; </sup> </TD>
    <TD width="85%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left><sup>(3) </sup> </TD>
    <TD align=left width="85%" >
      <P align=justify>The aggregate fees billed for professional services
      rendered by the Company&#146;s auditor for tax compliance, tax advice, and tax
      planning. </P></TD></TR></TABLE>
<P align=justify>The audit committee has established policies and procedures
that are intended to control the services provided by the Company&#146;s external
auditors and to monitor their continuing independence. Under these policies, no
services may be undertaken by the auditors, unless the engagement is
specifically approved by the audit committee or the services are included within
a category which has been pre-approved by the audit committee. The maximum
charge for services is established by the audit committee when the specific
engagement is approved or the category of services pre-approved. Management is
required to notify the audit committee of the nature and value of pre-approved
services undertaken. </P>
<P align=justify><B><U>ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT
COMMITTEES</U></B></P>
<P align=justify>Not applicable. </P>
<P align=right>103 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_106></A>
<P align=justify><B><U>ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE
COMPANY/AFFILIATED PURCHASERS</U></B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>ITEM 16F. CHANGE IN REGISTRANT&#146;S CERTIFYING
ACCOUNTANT</U></B></P>
<P align=justify>Not applicable. </P>
<P align=justify><B><U>ITEM 16G. CORPORATE GOVERNANCE</U></B></P>
<P align=justify>The Common Shares are listed on the NYSE American and the
TSX-V. Under the rules of the NYSE American, listed companies are generally
required to have a majority of their Board of Directors independent as defined
by the NYSE American Company Guide Rules. Currently, as permitted under
applicable Canadian regulations, the Company&#146;s Board consists of 5 directors, of
which 3 are considered to be independent. </P>
<P align=justify>Other than in the composition of the Board of Directors as
described above, in the opinion of management the Company&#146;s corporate governance
practices do not differ in any significant way from those required of U.S.
domestic companies listed on the NYSE American. </P>
<P align=justify><B><U>ITEM 16H. MINE SAFETY DISCLOSURE</U></B></P>
<P align=justify>Not applicable. </P>
<P align=center><B>PART III </B></P>
<P align=justify><B><U>ITEM 17. FINANCIAL STATEMENTS</U></B> </P>
<P align=justify>Not applicable.</P>
<P align=justify><B><U>ITEM 18. FINANCIAL STATEMENTS</U></B><B> </B></P>
<P align=justify>The Company's financial statements are stated in Canadian
Dollars and are prepared in accordance with International Financial Reporting
Standards as issued by the International Accounting Standards Board. </P>
<P align=justify>This Form 20-FAnnual Report contains the audited consolidated
financial statements of the Company for the fiscal years ended December 31,
2017, 2016 and 2015 with the Report of Independent Registered Public Accounting
Firm, comprised of: </P>
<table
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellspacing=0 cellpadding=0 width="100%" border=0 bcllist>
  <tr>
    <td width="5%"  >&nbsp;</td>
    <td width="5%" valign=top bgcolor="#EEEEEE"><a href="#page_fs4">a) </a></td>
    <td bgcolor="#EEEEEE"><p align=justify><a href="#page_fs4">Consolidated Statements of Financial Position at December
      31, 2017, 2016 and 2015.</a></p></td>
  </tr>
  <tr>
    <td width="5%" >&nbsp;</td>
    <td valign=top width="5%"><a href="#page_fs5">b) </a></td>
    <td><p align=justify><a href="#page_fs5">Consolidated Statements of Comprehensive Loss for the
      years ended December 31, 2017, 2016 and 2015.</a></p></td>
  </tr>
  <tr>
    <td width="5%" >&nbsp;</td>
    <td width="5%" valign=top bgcolor="#EEEEEE"><a href="#page_fs7">c) </a></td>
    <td bgcolor="#EEEEEE"><p align=justify><a href="#page_fs7">Consolidated Statements of Cash Flows for the years ended
      December 31, 2017, 2016 and 2015.</a></p></td>
  </tr>
  <tr>
    <td width="5%" >&nbsp;</td>
    <td valign=top width="5%"><a href="#page_fs8">d) </a></td>
    <td><p align=justify><a href="#page_fs8">Consolidated Statements of Shareholders Equity for the
      years ended December 31, 2017, 2016 and 2015.</a></p></td>
  </tr>
  <tr>
    <td width="5%" >&nbsp;</td>
    <td width="5%" valign=top bgcolor="#EEEEEE"><a href="#page_fs10">e) </a></td>
    <td bgcolor="#EEEEEE"><p align=justify><a href="#page_fs10">Notes to Consolidated Financial
      Statements</a></p></td>
  </tr>
</table>
<a href="#page_4"></a>
<P align=right>104 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_107></A>
<P align=justify><B><U>ITEM 19. EXHIBITS</U></B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1 BCLLIST>

  <TR>
    <TD vAlign=top width="10%"><a href="http://www.sec.gov/Archives/edgar/data/1285786/000106299314004222/form6k.htm">1.1 </a></TD>
    <TD>
      <P align=justify><a href="http://www.sec.gov/Archives/edgar/data/1285786/000106299314004222/form6k.htm">Articles of EMX Royalty Corporation (formerly Eurasian
      Minerals Inc.) &#150; Incorporated by reference to Exhibit 99.1 to Form 6-K
    filed on July 16, 2014.</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="http://www.sec.gov/Archives/edgar/data/1285786/000106299317003310/form6k.htm">1.2 </a></TD>
    <TD>
      <P align=justify><a href="http://www.sec.gov/Archives/edgar/data/1285786/000106299317003310/form6k.htm">Certificate of Change of Name and Notice of Articles
      dated July 19, 2017 &#150; Previously filed with the SEC on Form 6-K on July
      19, 2017.</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="http://www.sec.gov/Archives/edgar/data/1285786/000106299315002279/exhibit99-6.htm">4.1 </a></TD>
    <TD>
      <P align=justify><a href="http://www.sec.gov/Archives/edgar/data/1285786/000106299315002279/exhibit99-6.htm">Services Agreement between the Company and Seabord
      Services Corp., dated December 1, 2015 - Previously filed with the SEC on
      Form 20-F Annual Report on April 30, 2015.</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="#page_39">8.1 </a></TD>
    <TD>
      <P align=justify><a href="#page_39">List of Significant Subsidiaries - Included under Item
    4.C, Organizational Structure.</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit12-1.htm">12.1 </a></TD>
    <TD>
      <P align=justify><a href="exhibit12-1.htm">Certification of the Principal Executive Officer pursuant
      to Rule 13a-14(a)</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit12-2.htm">12.2 </a></TD>
    <TD>
      <P align=justify><a href="exhibit12-2.htm">Certification of the Principal Financial Officer pursuant
      to Rule 13a-14(a)</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit13-1.htm">13.1 </a></TD>
    <TD>
      <P align=justify><a href="exhibit13-1.htm">Certification of Principal Executive Officer pursuant to
      18 U.S.C. Section 1350</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit13-2.htm">13.2 </a></TD>
    <TD>
      <P align=justify><a href="exhibit13-2.htm">Certification of Principal Financial Officer pursuant to
      18 U.S.C. Section 1350</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit15-1.htm">15.1 </a></TD>
    <TD>
      <P align=justify><a href="exhibit15-1.htm">Consent of Qualified Person &#150; Eric P. Jensen</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit15-2.htm">15.2 </a></TD>
    <TD>
      <P align=justify><a href="exhibit15-2.htm">Consent of Qualified Person - Dean D. Turner</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit15-3.htm">15.3 </a></TD>
    <TD>
      <P align=justify><a href="exhibit15-3.htm">Consent of Qualified Person - Phil Newell</a></P></TD></TR>
  <TR>
    <TD vAlign=top width="10%"><a href="exhibit15-4.htm">15.4 </a></TD>
    <TD>
      <P align=justify><a href="exhibit15-4.htm">Audit Committee Charter</a></P></TD></TR>
  <TR>
    <TD vAlign=top><a href="emx-20171231.xml">EX-101.INS</a></TD>
    <TD><a href="emx-20171231.xml">XBRL INSTANCE DOCUMENT</a></TD>
  </TR>
  <TR>
    <TD vAlign=top><a href="emx-20171231.xsd">EX-101.SCH</a></TD>
    <TD><a href="emx-20171231.xsd">XBRL TAXONOMY EXTENSION SCHEMA</a></TD>
  </TR>
  <TR>
    <TD vAlign=top><a href="emx-20171231_cal.xml">EX-101.CAL</a></TD>
    <TD><a href="emx-20171231_cal.xml">XBRL TAXONOMY EXTENSION CALCULATION LINKBASE</a></TD>
  </TR>
  <TR>
    <TD vAlign=top><a href="emx-20171231_def.xml">EX-101.DEF</a></TD>
    <TD><a href="emx-20171231_def.xml">XBRL TAXONOMY EXTENSION DEFINITION LINKBASE</a></TD>
  </TR>
  <TR>
    <TD vAlign=top><a href="emx-20171231_lab.xml">EX-101.LAB</a></TD>
    <TD><a href="emx-20171231_lab.xml">XBRL TAXONOMY EXTENSION LABEL LINKBASE</a></TD>
  </TR>
  <TR>
    <TD vAlign=top width="10%"><a href="emx-20171231_pre.xml">EX-101.PRE</a></TD>
    <TD>
      <P align=justify><a href="emx-20171231_pre.xml">XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE</a></P></TD></TR></TABLE>
</DIV>
<P align=right>105 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_108></A>
<P align=justify><B>SIGNATURES</B> </P>
<P align=justify>The registrant hereby certifies that it meets all of the
requirements for filing on Form 20-F and that it has duly caused and authorized
the undersigned to sign this Annual Report on its behalf. </P>
<P align=justify><B>EMX ROYALTY CORPORATION </B></P>
<P align=justify><u><I>/s/ Christina Cepeliauskas</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u> </P>
<P align=justify>Christina Cepeliauskas <BR>Chief Financial Officer <BR></P>
<P align=justify>DATED: April 3, 2018 </P>
<P align=right>106 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_fs></A>
<P align=center>
<img
src="exhibit99-1x1x1.jpg"
border=0 width="396" height="76"></P>
<P align=center><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS INC.)
<BR>CONSOLIDATED FINANCIAL STATEMENTS <BR></B><B>(Expressed in Canadian Dollars)
</B></P>
<P align=center><B>December 31, 2017 </B></P>
<P align=center>Page 1 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=center>
<IMG
src="exhibit99-1x2x1.jpg"
border=0 width="757" height="49"></P> <BR>
<P align=center><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</B></P>
<P align=justify>To the Shareholders and Directors of <BR>EMX Royalty Corp.
(formerly Eurasian Minerals Inc.) </P>
<P align=justify><B><I>Opinion on the Consolidated Financial Statements
</I></B></P>
<P align=justify>We have audited the accompanying consolidated financial
statements of EMX Royalty Corp. (formerly Eurasian Minerals Inc.) (the
&#147;Company&#148;), which comprise the consolidated statements of financial position as
of December 31, 2017 and 2016, the consolidated statements of loss,
comprehensive loss, shareholders&#146; equity, and cash flows for the years ended
December 31,2017, 2016, and 2015 and the related notes, comprising a summary of
significant accounting policies and other explanatory information (collectively
referred to as the consolidated financial statements). </P>
<P align=justify>In our opinion, these consolidated financial statements present
fairly, in all material respects, the financial position of the Company as at
December 31, 2017 and 2016 and its financial performance and its cash flows for
the years ended December 31, 2017, 2016 and 2015 in accordance with
International Financial Reporting Standards as issued by the International
Accounting Standards Board. </P>
<P align=justify><B><I>Material Uncertainty Related to Going Concern
</I></B></P>
<P align=justify>Without qualifying our opinion, we draw attention to Note 1 in
the consolidated financial statements, which indicates that the Company has
recurring losses, an accumulated deficit of $104,382,744 and the Company
anticipates it will require additional working capital to undertake its current
business plan. As stated in Note 1 to the consolidated financial statements,
these events or conditions, along with other matters as set forth in Note 1,
indicate that a material uncertainty exists that casts substantial doubt on the
Company&#146;s ability to continue as a going concern. </P>
<P align=justify><B><I>Basis for Opinion </I></B></P>
<P align=justify><B><I>Management&#146;s Responsibility for the Consolidated
Financial Statements</I></B><B><I> </I></B></P>
<P align=justify>Management is responsible for the preparation and fair
presentation of these consolidated financial statements in accordance with
International Financial Reporting Standards as issued by the International
Accounting Standards Board, and for such internal control as management
determines is necessary to enable the preparation of consolidated financial
statements that are free from material misstatement, whether due to fraud or
error. </P>
<P align=justify><B><I>Auditors&#146; Responsibility </I></B><B><I></I></B></P>
<P align=justify>Our responsibility is to express an opinion on these
consolidated financial statements based on our audits. We conducted our audits
in accordance with Canadian generally accepted auditing standards and the
standards of the Public Company Accounting Oversight Board (United States)
(&#147;PCAOB&#148;). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are
free from material misstatement, whether due to error or fraud. Those standards
also require that we comply with ethical requirements, including independence.
We are required to be independent with respect to the Company in accordance with
the ethical requirements that are relevant to our audit of the consolidated
financial statements in Canada, the U.S. federal securities laws and the
applicable rules and regulations of the Securities and Exchange Commission and
the PCAOB. We are a public accounting firm registered with the PCAOB. </P>
<P align=center>
<IMG src="exhibit99-1x2x2.jpg" border=0 width="404" height="100"> </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=justify>An audit includes performing procedures to assess the risks of
material misstatements of the consolidated financial statements, whether due to
error or fraud, and performing procedures to respond to those risks. Such
procedures included obtaining and examining, on a test basis, audit evidence
regarding the amounts and disclosures in the consolidated financial statements.
The procedures selected depend on our judgment, including the assessment of the
risks of material misstatement of the consolidated financial statements, whether
due to fraud or error. In making those risk assessments, we consider internal
control relevant to the Company&#146;s preparation and fair presentation of the
consolidated financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company&#146;s internal control. The Company is
not required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Accordingly, we express no such opinion. </P>
<P align=justify>An audit also includes evaluating the appropriateness of
accounting policies and principles used and the reasonableness of accounting
estimates made by management, as well as evaluating the overall presentation of
the consolidated financial statements. </P>
<P align=justify>We believe that the audit evidence we have obtained in our
audits is sufficient and appropriate to provide a reasonable basis for our audit
opinion. </P>
<P align=justify>We have served as the Company&#146;s auditor since 2002. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=right width="50%"><B>&#147;DAVIDSON &amp; COMPANY LLP&#148;</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Vancouver, Canada </TD>
    <TD align=right width="50%">Chartered Professional Accountants </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=right width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>March 21, 2018 </TD>
    <TD align=left width="50%">&nbsp; </TD></TR></TABLE>
<P align=center>Page 3 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_fs4></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>CONSOLIDATED STATEMENTS OF FINANCIAL POSITION </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"></TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom noWrap align=left
      bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><STRONG>ASSETS</STRONG> </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="12%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="12%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="2%"
bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="12%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="12%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Current</B> </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Cash and cash equivalents </TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="12%">&nbsp;3,533,611 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="12%">&nbsp;3,199,686 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Investments
      (Note 3) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>1,139,447 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>262,756 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Receivables (Note 4) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">3,376,411 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">3,430,006 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Prepaid expenses </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>45,194 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>28,496 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total current assets </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">8,094,663 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">6,920,944 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Non-current</B> </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Restricted cash
      (Note 5) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>771,434 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>359,172 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Receivables (Note 4) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">1,412,727 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Property and
      equipment (Note 6) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>450,278 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>471,704 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Notes receivable (Note 7) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">429,973 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Investment in
      associated companies (Note 8) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>7,578,989 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>4,992,823 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Strategic investments (Note 3)
    </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">2,199,199 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">212,798 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Exploration and
      evaluation assets (Note 9) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>1,841,966 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>2,145,000 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Royalty interest (Note 10) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">21,943,743 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">25,831,152 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Reclamation
      bonds (Note 11) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>515,748 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>639,427 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Goodwill (Note 12) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">1,820,307 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">4,753,324 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Other assets </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>104,484 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>104,484 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total non-current assets </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">37,656,121 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">40,922,611 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>TOTAL ASSETS</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">&nbsp;45,750,784 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">&nbsp;47,843,555 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>LIABILITIES</B> </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Current</B> </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Accounts payable
      and accrued liabilities </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;749,865
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;577,265
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Advances from joint venture partners (Note 13) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">808,905 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">341,361 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total current liabilities </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>1,558,770 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>918,626 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="12%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="12%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Non-current</B> </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Deferred income tax liability (Note 15) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">1,820,307 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">4,753,324 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>TOTAL LIABILITIES</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">3,379,077 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">5,671,950 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>SHAREHOLDERS' EQUITY</B> </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Capital stock
      (Note 14) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>124,062,091 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>117,504,585 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Commitment to issue shares (Note
      14) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">23,825 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Reserves </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>22,668,535 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>21,656,380 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Deficit </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">(104,382,744</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">(96,989,360</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>TOTAL SHAREHOLDERS' EQUITY</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>42,371,707 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>42,171,605 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="12%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="12%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;45,750,784 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;47,843,555 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Nature of operations and going concern
      </B>(Note 1) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Events subsequent to the
      reporting date </B>(Note 20) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify><B>Approved on behalf of the Board of Directors on March 21,
2018</B> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >Signed: </TD>
    <TD align=left width="21%"><I>&#147;</I><I>David M Cole</I><I>&#148;</I> </TD>
    <TD align=left width="21%">Director </TD>
    <TD align=left width="5%" >Signed: </TD>
    <TD align=left width="21%"><I>&#147;</I><I>Larry Okada</I><I>&#148;</I> </TD>
    <TD align=left width="21%">Director </TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="21%"
    >&nbsp;</TD>
    <TD align=left width="21%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="5%"
     >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="21%"
    >&nbsp;</TD>
    <TD align=left width="21%" >&nbsp;</TD></TR></TABLE>
<P align=center>The accompanying notes are an integral part of these
consolidated financial statements. </P>
<P align=center>Page 4 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_fs5></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>CONSOLIDATED STATEMENTS OF LOSS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="12%" ><B>Year
      ended</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="12%" ><B>Year
      ended</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="12%" ><B>Year
      ended</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>December 31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>December 31, 2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>ROYALTY INCOME (Note
      10)</B> </TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;2,857,927 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;2,227,322 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;1,609,553 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Cost of sales</B> </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Gold tax </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(120,618</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(111,366</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(80,478</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Depletion (Note 10) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(2,282,276</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(2,163,221</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(1,716,848</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Net royalty (loss) income </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >455,033 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(47,265</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(187,773</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>EXPLORATION EXPENDITURES
      (Note 9)</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >6,334,119 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >6,415,533 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >5,948,802 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Less: recoveries </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(1,863,045</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(1,415,574</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(1,584,127</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Net exploration expenditures </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >4,471,074 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >4,999,959 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >4,364,675 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>GENERAL AND ADMINISTRATIVE
      EXPENSES</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Administrative and office </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >724,519 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >721,645 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >900,453 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Depreciation (Note 6) </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >28,622 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >114,489 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >116,119 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Investor relations and shareholder
      information </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >389,222 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >274,966 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >218,731 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Professional fees </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >664,295 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >510,533 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >574,067 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Salaries and consultants (Note 16) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >1,023,831 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >894,166 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >961,108 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Share-based payments (Note 14
      and 16) </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >676,054 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >467,939 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >470,116 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Transfer agent and filing fees </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >168,445 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >165,040 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >107,566 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Travel </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >90,041 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >71,561 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >187,374 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total general and administrative expenses </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >3,765,029 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >3,220,339 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >3,535,534 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Loss from operations</B> </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(7,781,070</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(8,267,563</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(8,087,982</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Change in fair value of fair value throught
      profit or loss investments </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >122,191 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >258,702 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(427,022</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Permanent loss recorded in
      the fair value of available for sale investments (Note 3) </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(697,675</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Gain on acquisition and sale of exploration
      and evaluation assets (Note 9) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >1,305,237 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >6,834,999 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >5,393,305 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Equity loss in associated
      companies (Note 8) </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(994,548</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(1,295,568</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(1,062,146</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Dilution gain in associated companies (Note
      8) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >503,543 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >982,634 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Foreign exchange gain (loss)
    </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(659,473</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(159,862</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >1,220,085 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Realized gain (loss) on sale of investments
    </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >83,345 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(287,204</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(58,360</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Interest and other gains on
      derivative instruments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >246,728 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >16,328 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(172,168</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Impairment of royalty interest (Note 10) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(3,973,699</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Write-off of exploration and
      evaluation assets (Note 9) </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(56,085</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Impairment of accounts receivable </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(51,302</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Writedown of goodwill (Note
      12) </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(2,709,239</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(1,518,328</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(3,047,605</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Gain
      on derecognition and sale of property and equipment </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >10,723 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >15,892 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Loss before income taxes</B> </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(9,883,286</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(4,122,814</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(10,307,087</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Deferred income tax recovery (Note 15) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >2,489,902 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >1,439,332 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >3,431,230 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Loss for the year</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >&nbsp;(7,393,384</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >&nbsp;(2,683,482</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >&nbsp;(6,875,857</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Basic and diluted loss per share</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >&nbsp;(0.09</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >&nbsp;(0.04</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >&nbsp;(0.09</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Weighted average number of common shares
      outstanding</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >78,002,082 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >73,874,415 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >73,480,833 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=center>The accompanying notes are an integral part of these
consolidated financial statements. </P>
<P align=center>Page 5 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" bgColor=#ffffff ><B>Year ended December</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" bgColor=#ffffff ><B>Year ended December</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" bgColor=#ffffff ><B>Year ended December</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" bgColor=#ffffff ><B>31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" bgColor=#ffffff ><B>31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" bgColor=#ffffff ><B>31, 2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Loss for the year</B> </TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;(7,393,384</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;(2,683,482</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;(6,875,857</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Other comprehensive income
      (loss)</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Change in fair value of available-for-sale
      investments </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >609,733 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >88,515 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(105,714</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Permanent loss on financial
      instruments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >697,675 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Currency translation adjustment </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(1,424,814</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(862,335</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >4,350,667 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Comprehensive loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;(8,208,465</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;(2,759,627</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;(2,630,904</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR></TABLE>
<P align=center>The accompanying notes are an integral part of these
consolidated financial statements. </P>
<P align=center>Page 6 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_fs7></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD  align=left><B>EMX ROYALTY
      CORPORATION (FORMERLY EURASIAN MINERALS INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>CONSOLIDATED STATEMENTS OF CASH FLOWS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" ><B>Year ended</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" ><B>Year ended</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" ><B>Year ended</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>December 31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>December 31, 2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Cash flows from operating
      activities</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Loss for the year </TD>
    <TD vAlign=bottom align=left width="1%" >$</TD>
    <TD vAlign=bottom align=right width="12%"
>&nbsp;(7,393,384</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >$</TD>
    <TD vAlign=bottom align=right width="12%"
>&nbsp;(2,683,482</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >$</TD>
    <TD vAlign=bottom align=right width="12%"
>&nbsp;(6,875,857</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Items not affecting operating
      activities: </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Interest income received </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(254,261</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(5,590</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(22,270</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Unrealized
      foreign exchange effect on cash and cash equivalents </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(173,740</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(71,562</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >290,504 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Items not affecting cash: </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Change in fair
      value of fair value throught profit or loss investments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(122,191</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(258,702</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >427,022 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Commitment to issue shares </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >27,462 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >66,089 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Permanent loss
      on financial instruments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >697,675 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Interest on notes receivable </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(81,850</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(58,342</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(53,222</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Accretion
      interest on receivable </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(167,718</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(72,806</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Derivative loss on accounts
      receivable </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >120,900 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Share - based
      payments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >1,415,639 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >943,334 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >476,424 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Deferred income tax recovery </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(2,489,902</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(1,439,332</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(3,431,230</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Depreciation </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >39,344 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >136,200 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >150,782 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Depletion </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >2,282,276 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >2,163,221 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >1,716,848 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Impairment of
      royalty interest </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >3,973,699 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Writedown of goodwill </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >2,709,239 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >1,518,328 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >3,047,605 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Impairment of
      receivables </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >51,302 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Realized (gain) loss on sale of
      investments </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(83,345</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >287,204 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >58,360 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Gain on
      acquistion and sale of exploration and evalution assets </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(1,305,237</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(6,834,999</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(5,393,305</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Gain on derecognition and sale
      of property and equipment </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(29,766</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(10,723</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(15,892</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Write-off of
      exploration and evaluation assets </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >56,086 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Equity loss in associated
      companies </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >994,548 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >1,295,568 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >1,062,146 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Dilution gain in
      associated companies </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(503,543</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(982,634</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Unrealized foreign exchange
      (gain) loss </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >597 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(67,249</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(466,587</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Shares received
      from joint venture partners included in exploration recoveries </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(810,521</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(134,738</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(115,000</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Changes in non-cash working capital items:
</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Receivables </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >1,908,945 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(6,343</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >101,200 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Prepaid expenses </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(16,698</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >3,848 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >21,366 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Accounts payable
      and accrued liabilities </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >172,600 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(86,317</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >83,056 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Advances from joint venture partners </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >467,544 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >203,536 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(291,350</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Total cash used in operating activities</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(3,441,424</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(5,315,543</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(5,082,224</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Cash flows from investing
      activities</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Acquisition and sale of
      exploration and evaluation assets, net of option </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;payments
      received </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >161,048 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >3,005,280 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >5,297,357 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Interest received on cash and
      cash equivalents </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >86,543 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >5,590 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >22,270 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Notes receivable
    </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(1,405,277</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(542,622</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(973,236</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Proceeds from sale of fair value
      through profit and loss investments, net </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >139,365 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >130,737 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >136,263 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Proceeds of
      available-for-sale financial instruments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >17,375 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Purchase of investments in
      associated companies </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(2,059,631</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Restricted cash
    </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(412,262</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(89,402</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff >-
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Purchase and sale of property
      and equipment, net </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(24,784</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(16,999</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >2,403 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Reclamation bonds </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >123,679 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >171,307 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >71,964 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Total cash provided by (used in) investing activities</B>
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >(3,391,319</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >2,681,266 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >4,557,021 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Cash flows from financing activities</B>
    </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Proceeds
      received from private placement, net of share issue costs </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >6,907,228 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Proceeds from exercise of options </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >85,700 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >127,800 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Total cash provided by financing activities</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >6,992,928 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >127,800 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD>
    <TD vAlign=bottom width="1%" >&nbsp;</TD>
    <TD vAlign=bottom width="12%" >&nbsp; </TD>
    <TD vAlign=bottom width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Effect of exchange rate changes on cash and
      cash equivalents </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >173,740 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >71,562 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(290,504</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Change in cash and cash equivalents</B>
</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >333,925 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(2,434,915</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >(815,707</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Cash and cash equivalents, beginning</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >3,199,686 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >5,634,601 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >6,450,308 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Cash and cash equivalents, ending</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;3,533,611 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;3,199,686 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;5,634,601 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff >&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Supplemental disclosure with respect to cash
      flows (Note 19) </TD>
    <TD vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left
    width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left
    width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left
    width="12%" >&nbsp; </TD>
  <TD vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=center>The accompanying notes are an integral part of these
consolidated financial statements. </P>
<P align=center>Page 7 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_fs8></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>CONSOLIDATED STATEMENTS OF SHAREHOLDERS&#146; EQUITY </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=center width="19%" colSpan=4><B>Reserves</B>
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Accumulated other</B>
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Number of common</B>
</TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Commitment to</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Share-based</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>comprehensive gain</B>
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>shares</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Capital stock</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>issue shares</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>(loss)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Deficit</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Balance as at December 31,
      2016</B> </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff><B>74,089,710</B>
    </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;117,504,585</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff><B>&nbsp;-</B>
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;11,607,230</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;10,049,150</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;(96,989,360</B></TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff><B>)</B> </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;42,171,605</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Shares issued for exercise of stock
      options </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">75,000 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">85,700 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">85,700 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Shares issued for
      private placement </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>5,000,000 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>6,200,000 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>800,000 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>7,000,000 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Finder's fees in units </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">246,604 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">305,789 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">39,457 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">345,246 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Share-based payments
</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>313,873 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>358,490 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>23,825 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>1,033,324 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>1,415,639 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Share issuance costs in units </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">(345,246</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">(345,246</TD>
    <TD vAlign=bottom align=left width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Share issuance costs in
      cash </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(92,772</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(92,772</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Reclass of reserves for exercise of
      options </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">45,545 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">(45,545</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Foreign currency
      translation adjustment </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(1,424,814</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(1,424,814</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Change in fair value of financial
      instruments </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">609,733 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">609,733 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(7,393,384</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(7,393,384</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=center>
    <p align="left" style="text-indent: -15pt; margin-left: 15pt"><B>Balance as at December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%"><B>79,725,187</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%"><B>&nbsp;124,062,091</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%"><B>&nbsp;23,825</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%"><B>&nbsp;13,434,466</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%"><B>&nbsp;9,234,069</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%"><B>&nbsp;(104,382,744</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%"><B>&nbsp;42,371,707</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=center width="19%" colSpan=4><B>Reserves</B>
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Accumulated other</B>
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Number of common</B>
</TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Commitment to</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Share-based</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>comprehensive gain</B>
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>shares</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Capital stock</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>issue shares</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>(loss)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Deficit</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Balance as at December 31,
      2015</B> </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff><B>73,534,710</B>
    </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;117,000,052</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;139,138</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;10,362,229</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;10,125,295</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;(94,305,878</B></TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff><B>)</B> </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;43,320,836</B> </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Shares issued for acquisition of a
      royalty interest </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">250,000 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">145,000 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">145,000 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Shares issued as
      incentive stock grants </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>140,000 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>166,600 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(166,600</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Shares issued from exercise of options
    </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">165,000 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">127,800 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">127,800 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Equity investment
      share-based payments </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>366,800 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>366,800 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Commitment to issue shares </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">27,462 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">943,334 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">970,796 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Reclassification of
      fair value of options exercised </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>65,133 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(65,133</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Foreign currency translation adjustment
    </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">(862,335</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">(862,335</TD>
    <TD vAlign=bottom align=left width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Change in fair value of
      financial instruments </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>88,515 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>88,515 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Permanent loss on financial instruments
    </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">697,675 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">697,675 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(2,683,482</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(2,683,482</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Balance as at December 31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>74,089,710</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;117,504,585</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;-</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;11,607,230</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;10,049,150</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;(96,989,360</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;42,171,605</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=center>The accompanying notes are an integral part of these
consolidated financial statements. </P>
<P align=center>Page 8 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_9></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>CONSOLIDATED STATEMENTS OF SHAREHOLDERS&#146; EQUITY </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=center width="19%" colSpan=4><B>Reserves</B>
</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="8%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Accumulated other</B>
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Number of common</B>
</TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Commitment to</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>Share-based</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="8%"><B>comprehensive gain</B>
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="8%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>shares</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Capital stock</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>issue shares</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>(loss)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Deficit</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="8%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff >
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Balance as
      at December 31, 2014</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff><B>73,371,710</B>
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
      bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;116,766,102</B> </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
      bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;306,999</B> </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
      bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;9,562,905</B> </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
      bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;5,880,342</B> </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
      bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;(87,430,021</B></TD>
    <TD vAlign=bottom align=left width="2%"
      bgColor=#e6efff><B>)</B> </TD>
    <TD vAlign=bottom align=left width="1%"
      bgColor=#e6efff><B>$</B></TD>
    <TD vAlign=bottom align=right width="8%"
      bgColor=#e6efff><B>&nbsp;45,086,327</B> </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Shares issued as
      incentive stock grants </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">163,000 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">233,950 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">(233,950</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff
      >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Commitment to issue shares </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>66,089 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>66,089 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Equity investment
      share-based payments </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">322,900 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">322,900 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Share -
      based payments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>476,424 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>476,424 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Foreign currency
      translation adjustment </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">4,350,667 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">4,350,667 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Change in
      fair value of financial instruments </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(105,714</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>(105,714</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    >
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(6,875,857</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(6,875,857</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff >
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Balance as at December 31, 2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>73,534,710</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;117,000,052</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;139,138</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;10,362,229</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;10,125,295</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;(94,305,878</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff><B>&nbsp;43,320,836</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=center>The accompanying notes are an integral part of these
consolidated financial statements. </P>
<P align=center>Page 9 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_fs10></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>1. NATURE OF OPERATIONS AND GOING CONCERN </B></P>
<P align=justify>EMX Royalty Corporation (the &#147;Company&#148; or &#147;EMX&#148;) and its
subsidiaries operates as a royalty and prospect generator engaged in the
exploring for, and generating royalties from, metals and minerals properties.
The Company&#146;s royalty and exploration portfolio mainly consists of properties in
North America, Turkey, Europe, Haiti, Australia, and New Zealand. The Company&#146;s
common shares are listed on the TSX Venture Exchange (&#147;TSX-V&#148;) and the NYSE MKT
under the symbol of &#147;EMX&#148;. The Company&#146;s head office is located at 501 - 543
Granville Street, Vancouver, British Columbia, Canada V6C 1X8.</P>
<P align=justify>On July 19, 2017 the Company officially changed its name to EMX
Royalty Corporation, formerly Eurasian Minerals Inc. </P>
<P align=justify>These consolidated financial statements have been prepared
using International Financial Reporting Standards (&#147;IFRS&#148;) applicable to a going
concern, which assumes that the Company will be able to realize its assets,
discharge its liabilities and continue in operation for the following twelve
months.</P>
<P align=justify>With its current plans for the year and the budgets associated
with those plans, in order to continue funding its administrative and royalty
generation programs from the date of these consolidated financial statements,
management believes it will require additional working capital to undertake it&#146;s
current business plan. The Company has incurred recurring losses and has an
accumulated deficit of $104,382,744. In order to maintain or adjust the capital
structure, the Company may issue new shares through public and/or private
placements, sell assets, or return capital to shareholders. These uncertainties
may cast doubt upon the Company&#146;s ability to continue as a going concern. </P>
<P align=justify>Some of the Company&#146;s activities for exploration and evaluation
assets are located in emerging nations and, consequently, may be subject to a
higher level of risk compared to other developed countries. Operations, the
status of mineral property rights and the recoverability of investments in
emerging nations can be affected by changing economic, legal, regulatory and
political situations. </P>
<P align=justify>At the date of these consolidated financial statements, the
Company has not identified a known body of commercial grade mineral on any of
its exploration and evaluation assets. The ability of the Company to realize the
costs it has incurred to date on these exploration and evaluation assets is
dependent upon the Company identifying a commercial mineral body, to finance its
development costs and to resolve any environmental, regulatory or other
constraints which may hinder the successful development of the exploration and
evaluation assets.</P>
<P align=justify>These consolidated financial statements of the Company are
presented in Canadian dollars unless otherwise noted, which is the functional
currency of the parent company and its subsidiaries except as to Bullion Monarch
Mining, Inc., the holder of a royalty income stream whose functional currency is
the United States (&#147;US&#148;) dollar. </P>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B></P>
<P align=justify><B>Statement of Compliance </B></P>
<P align=justify>These consolidated financial statements have been prepared in
accordance with IFRS as issued by the International Accounting Standards Board
(&#147;IASB&#148;) and interpretations of the International Financial Reporting
Interpretations Committee (&#147;IFRIC&#148;). </P>
<P align=justify>These consolidated financial statements have been prepared on a
historical cost basis, except for financial instruments classified as fair value
through profit or loss or available for sale, which are stated at their fair
value. In addition, these consolidated financial statements have been prepared
using the accrual basis of accounting except for cash flow information. </P>
<P align=center>Page 10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_11></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued) </P>
<P align=justify><B>Summary of Significant Accounting Policies </B></P>
<P align=justify><B>Basis of Consolidation </B></P>
<P align=justify>The consolidated financial statements comprise the accounts of
EMX Royalty Corp., the parent company, and its controlled subsidiaries, after
the elimination of all significant intercompany balances and transactions. </P>
<P align=justify><I>Subsidiaries </I></P>
<P align=justify>Subsidiaries are all entities over which the Company has
exposure to variable returns from its involvement and has the ability to use
power over the investee to affect its returns. The existence and effect of
potential voting rights that are currently exercisable or convertible are
considered when assessing whether the Company controls another entity.
Subsidiaries are fully consolidated from the date on which control is
transferred to the Company until the date on which control ceases.</P>
<P align=justify>The accounts of subsidiaries are prepared for the same
reporting period as the parent company, using consistent accounting policies.
Inter-company transactions, balances and unrealized gains or losses on
transactions are eliminated. The Company&#146;s principal operating subsidiaries are
as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left ><B>Name</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="25%"><B>Place of Incorporation</B>
    </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="25%"><B>Ownership Percentage</B>
    </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff >Bullion Monarch
      Mining, Inc </TD>
    <TD vAlign=bottom align=left width="25%" bgColor=#e6efff>Utah, USA </TD>
    <TD vAlign=bottom align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left >EMX (USA) Services Corp. </TD>
    <TD vAlign=bottom align=left width="25%">Nevada, USA </TD>
    <TD vAlign=bottom align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff >Bronco Creek
      Exploration Inc. </TD>
    <TD vAlign=bottom align=left width="25%" bgColor=#e6efff>Arizona, USA </TD>
    <TD vAlign=bottom align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left >Eurasia Madencilik Ltd. Sirketi
    </TD>
    <TD vAlign=bottom align=left width="25%">Turkey </TD>
    <TD vAlign=bottom align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff >Azur Madencilik
      Ltd. Sirketi </TD>
    <TD vAlign=bottom align=left width="25%" bgColor=#e6efff>Turkey </TD>
    <TD vAlign=bottom align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left >Eurasian Minerals Cooperatief
      U.A. </TD>
    <TD vAlign=bottom align=left width="25%">Netherlands </TD>
    <TD vAlign=bottom align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff >Eurasian
      Minerals Sweden AB </TD>
    <TD vAlign=bottom align=left width="25%" bgColor=#e6efff>Sweden </TD>
    <TD vAlign=bottom align=right width="25%" bgColor=#e6efff>100% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left >Viad Royalties AB </TD>
    <TD vAlign=bottom align=left width="25%">Sweden </TD>
    <TD vAlign=bottom align=right width="25%">100% </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff >Waikato Gold Limited </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="25%" bgColor=#e6efff>New Zealand </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="25%" bgColor=#e6efff>100% </TD></TR></TABLE>
<P align=justify><B>Functional and Reporting Currency </B></P>
<P align=justify>The functional currency is the currency of the primary economic
environment in which the entity operates. The functional currency for the
Company and its subsidiaries is the Canadian dollar except the functional
currency of the operations of Bullion Monarch which is the US dollar. The
functional currency determinations were conducted through an analysis of the
consideration factors identified in IAS 21, The Effects of Changes in Foreign
Exchange Rates.</P>
<P align=justify><I>Translation of transactions and balances </I></P>
<P align=justify>Foreign currency transactions are translated into the
functional currency using the exchange rates prevailing at the dates of the
transactions or valuation where items are re-measured. Monetary assets and
liabilities denominated in foreign currencies are re-measured at the rate of
exchange at each financial position date. Foreign exchange gains and losses
resulting from the settlement of such transactions and from the translation at
period end exchange rates of monetary assets and liabilities denominated in
foreign currencies are recognized in profit or loss. </P>
<P align=justify>On translation of the entities whose functional currency is
other than the Canadian dollar, revenues and expenses are translated at the
exchange rates approximating those in effect on the date of the transactions.
Assets and liabilities are translated at the rate of exchange at the reporting
date. Exchange gains and losses, including results of re-translation, are
recorded in the foreign currency translation reserve. </P>
<P align=center>Page 11 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued)</P>
<P align=justify> <B>Summary of Significant Accounting
  Policies </B>(Continued)</P>
<P align=justify><B> Financial Instruments </B></P>
<P align=justify>All financial instruments are classified into one of the
following four categories: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>Financial assets and financial liabilities at fair value through
      profit or loss (&#147;FVTPL&#148;) </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>Financial assets and financial liabilities classified as FVTPL are
      acquired or incurred principally for the purpose of selling or
      repurchasing them in the near term. They are recognized at fair value
      based on market prices, with any resulting gains and losses reflected in
      profit or loss for the period in which they arise. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>Held-to-maturity financial assets </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>Held-to-maturity financial assets are non-derivative financial assets
      with fixed or determinable payments and fixed maturity that an entity has
      the positive intention and ability to hold to maturity. They are measured
      at amortized cost using the effective interest rate method less any
      impairment loss. A gain or loss is recognized in profit or loss when the
      financial asset is derecognized or impaired, and through the amortization
      process. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>Available for sale financial assets </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>Available for sale (&#147;AFS&#148;) financial assets are non-derivative
      financial assets that are designated as available for sale, or that are
      not classified as loans and receivables, held-to-maturity investments, or
      FVTPL. They are measured at fair value. Fair value is determined based on
      market prices. Equity instruments that do not have a quoted market price
      in an active market are measured at cost. Gains and losses are recognized
      directly in other comprehensive income (loss) until the financial asset is
      derecognized, at which time the cumulative gain or loss previously
      recognized in accumulated other comprehensive income (loss) is recognized
      in profit or loss for the period. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>Loans and receivables and other financial liabilities </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>Loans and receivables and other financial liabilities are measured at
      amortized cost, using the effective interest rate method less any
      impairment loss. </TD></TR></TABLE>
<P align=justify>The Company&#146;s financial instruments consist of cash and cash
equivalents, investments, receivables, restricted cash, reclamation bonds, notes
receivable, strategic investments, accounts payable and accrued liabilities, and
advances from joint venture partners. Unless otherwise noted the fair value of
these financial instruments approximates their carrying values. </P>
<P align=justify>Cash and cash equivalents are classified as loans and
receivables. Cash equivalents are held for the purpose of meeting short-term
cash commitments rather than for investment or other purposes. </P>
<P align=justify>Warrants held through investments are classified as derivative
financial assets at FVTPL and are accounted for at fair value. For warrants that
are not traded on an exchange, no market value is readily available. When there
are sufficient and reliable observable market inputs, a valuation technique is
used; if no such market inputs are available, the warrants are valued at
intrinsic value, which is equal to the higher of the market value of the
underlying security less the exercise price of the warrant, or zero. </P>
<P align=justify>Investments (Marketable securities) classified as FVTPL are
measured at fair market value. Changes in fair value of FVTPL assets are
reflected in profit or loss in the period in which they occur. Changes in fair
value of AFS assets are reflected in accumulated other comprehensive income on
the statement of financial position until sold or if there is an other than
temporary impairment in value.</P>
<P align=center>Page 12 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued) </P>
<P align=justify><B>Summary of Significant Accounting Policies
</B>(Continued)<B> </B></P>
<P align=justify><B>Financial Instruments </B>(Continued)<B> </B></P>
<P align=justify>Reclamation bonds are classified as financial assets
held-to-maturity. </P>
<P align=justify>The Company classifies its restricted cash and certain
receivables as loans and receivables and its accounts payable and accrued
liabilities and advances from joint venture partners as other financial
liabilities. </P>
<P align=justify>Certain receivables related to the sale of Akarca (Note 4) are
considered to be derivative financial assets as they are subject to variations
in gold price per ounce on record date and final price received and are
accordingly classified as FVTPL. The derivative receivable is recorded at fair
value each period until final settlement occurs, with changes in fair value
reflected in profit or loss for the period in which they arise. </P>
<P align=justify><B>Impairment of Financial Assets </B></P>
<P align=justify>Financial assets are assessed for indicators of impairment at
the end of each reporting period. Financial assets are impaired when there is
objective evidence that, as a result of one or more events that occurred after
the initial recognition of the financial assets, the estimated future cash flows
of the financial assets have been impacted. </P>
<P align=justify>For all financial assets, objective evidence of impairment
could include: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">Significant financial difficulty of the issuer
      or counterparty; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">Default or delinquency in interest or principal
      payments; or, </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">It becoming probable that the borrower will
      enter bankruptcy or financial re-organization. </TD></TR></TABLE>
<P align=justify>For certain categories of financial assets that are assessed
not to be impaired individually, they are subsequently assessed for impairment
on a collective basis. The carrying amount of financial assets is reduced by the
impairment loss directly for all financial assets with the exception of
receivables, where the carrying amount is reduced through the use of an
allowance account. When a receivable is considered uncollectible, it is written
off against the allowance account. Subsequent recoveries of amounts previously
written off are credited against the allowance account. Changes in the carrying
amount of the allowance account are recognized in profit or loss. </P>
<P align=justify>With the exception of FVTPL marketable securities, if in a
subsequent period, the amount of the impairment loss decreases and the decrease
can be related objectively to an event occurring after the impairment was
recognized, the previously recognized impairment loss is reversed through profit
or loss to the extent that the carrying amount of the investment at the date the
impairment is reversed does not exceed what the amortized cost would have been
had the impairment not been recognized. In respect of AFS marketable securities,
impairment losses previously recognized through profit or loss are not reversed
through profit or loss. Any increase in fair value subsequent to an impairment
loss is recognized directly in equity.</P>
<P align=justify><B>Convertible Notes Receivable </B></P>
<P align=justify>The notes receivable are hybrid financial assets that consist
of a note receivable component and a separate equity conversion component. The
conversion feature is measured at fair value on initial recognition by
discounting the stream of future interest and principal payments at the rate of
interest prevailing at the date of the issue for instruments of similar term and
risk. Interest income based on the rate of the note will be receivable on
maturity are recognized through profit and loss as interest income. The equity
conversion option is an embedded derivative that has been separated from the
notes receivable and is valued based on residual value.</P>
<P align=center>Page 13 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued) </P>
<P align=justify><B>Summary of Significant Accounting Policies
</B>(Continued)<B> </B></P>
<P align=justify><B>Investments in Associated Companies </B></P>
<P align=justify>The Company accounts for its long-term investments in
affiliated companies over which it has significant influence using the equity
basis of accounting, whereby the investment is initially recorded at cost,
adjusted to recognize the Company&#146;s share of earnings or losses and reduced by
dividends received. </P>
<P align=justify>The Company assesses its equity investments for impairment if
there is objective evidence of impairment as a result of one or more events that
occurred after the initial recognition of the equity investment and that the
event or events has an impact on the estimated future cash flow of the
investment that can be reliably estimated. Objective evidence of impairment of
equity investments includes: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">Significant financial difficulty of the
      associated companies; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">Becoming probable that the associated companies
      will enter bankruptcy or other financial reorganization; or, </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">National or local economic conditions that
      correlate with defaults of the associated companies. </TD></TR></TABLE>
<P align=justify><B>Exploration and evaluation assets and exploration
expenditures </B></P>
<P align=justify>Acquisition costs for exploration and evaluation assets, net of
recoveries, are capitalized on a property-by-property basis. Acquisition costs
include cash consideration and the value of common shares, based on recent issue
prices, issued for exploration and evaluation assets pursuant to the terms of
the agreement. Exploration expenditures, net of recoveries, are charged to
operations as incurred. After a property is determined by management to be
commercially feasible, an impairment test is conducted and subsequent
development expenditures on the property will be capitalized.</P>
<P align=justify>When there is little prospect of further work on a property
being carried out by the Company or its partners, when a property is abandoned,
or when the capitalized costs are no longer considered recoverable, the related
property costs are written down to management&#146;s estimate of their net
recoverable amount. The costs related to a property from which there is
production, together with the costs of production equipment, will be depleted
and amortized using the unit-of-production method. </P>
<P align=justify>An exploration and evaluation asset acquired under an option
agreement, where payments are made at the sole discretion of the Company, is
capitalized at the time of payment. Option payments received are treated as a
reduction of the carrying value of the related acquisition cost for the mineral
property until the payments are in excess of acquisition costs, at which time
they are then credited to profit or loss. Option payments are at the discretion
of the optionee and, accordingly, are accounted for when receipt is reasonably
assured. </P>
<P align=justify><B>Revenue recognition </B></P>
<P align=justify>The Company recognizes revenue in accordance with <I>IAS 18
Revenue</I> and based upon amounts contractually due pursuant to the underlying
royalty agreements. Specifically, royalty revenue is recognized in accordance
with the terms of the underlying royalty agreements subject to (i) when
persuasive evidence of an arrangement exists; (ii) the risks and rewards of
ownership have been transferred; (iii) the royalty or stream being fixed or
determinable; and (iv) the collectability of the royalty being reasonably
assured. In some instances, the Company will not have access to sufficient
information to make a reasonable estimate of revenue and, accordingly, revenue
recognition is deferred until management can make a reasonable estimate. Royalty
revenue may be subject to adjustment upon final settlement of estimated metal
prices, weights, and assays. Adjustments to revenue from metal prices are
recorded monthly and other adjustments are recorded on final settlement and are
offset against revenue when incurred.</P>
<P align=center>Page 14 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued) </P>
<P align=justify><B>Summary of Significant Accounting Policies
</B>(Continued)<B> </B></P>
<P align=justify><B>Royalty interests </B></P>
<P align=justify>Royalty interests in mineral properties include acquired
royalty interests in production stage and exploration stage properties. In
accordance with <I>IAS 38 Intangible Assets</I>, the cost of acquired royalty
interests in mineral properties is capitalized as intangible assets. </P>
<P align=justify>Acquisition costs of production stage royalty interests are
depleted using the units of production method over the life of the related
mineral property, which is calculated using estimated reserves. Acquisition
costs of royalty interests on exploration stage mineral properties, where there
are no estimated reserves, are not amortized. At such time as the associated
exploration stage mineral interests are converted to estimated reserves, the
cost basis is amortized over the remaining life of the mineral property, using
the estimated reserves. The carrying values of exploration stage mineral
interests are evaluated for impairment at such time as information becomes
available indicating that production will not occur in the future.</P>
<P align=justify><B>Goodwill </B></P>
<P align=justify>Goodwill represents the excess of the price paid for the
acquisition of a consolidated entity over the fair value of the net identifiable
tangible and intangible assets and liabilities acquired in a business
combination. Goodwill is allocated to the cash generating unit to which it
relates.</P>
<P align=justify>Goodwill is evaluated for impairment annually or more often if
events or circumstances indicate there may be impairment. Impairment is
determined by assessing if the carrying value of a cash generating unit,
including the allocated goodwill, exceeds its recoverable amount.</P>
<P align=justify><B>Property and equipment </B></P>
<P align=justify>Property and equipment is recorded at cost. Buildings are
depreciated using a 5 year straightline method. Equipment is depreciated over
its estimated useful life using the declining balance method at a rate of 20%
per annum. Depreciation on equipment used directly on exploration projects is
included in exploration expenditures for that mineral property. </P>
<P align=justify><B>Decommissioning liabilities</B></P>
<P align=justify>Decommissioning liabilities are recognized for the expected
obligations related to the retirement of long-lived tangible assets that arise
from the acquisition, construction, development or normal operation of such
assets. A decommissioning liability is recognized in the period in which it is
incurred and when a reasonable estimate of the fair value of the liability can
be made with a corresponding decommissioning cost recognized by increasing the
carrying amount of the related long-lived asset. The decommissioning cost is
subsequently allocated in a rational and systematic method over the underlying
asset&#146;s useful life.</P>
<P align=justify>The initial fair value of the liability is accreted, by charges
to profit or loss, to its estimated future value.</P>
<P align=justify><B>Environmental disturbance restoration </B></P>
<P align=justify>During the operating life of an asset, events such as
infractions of environmental laws or regulations may occur. These events are not
related to the normal operation of the asset and are referred to as
environmental disturbance restoration provisions. The costs associated with
these provisions are accrued and charged to profit or loss in the period in
which the event giving rise to the liability occurs. Any subsequent adjustments
to these provisions due to changes in estimates are also charged to profit or
loss in the period of adjustment. These costs are not capitalized as part of the
long-lived assets&#146; carrying value. </P>
<P align=center>Page 15 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued) </P>
<P align=justify><B>Summary of Significant Accounting Policies
</B>(Continued)<B> </B></P>
<P align=justify><B>Impairment of assets </B></P>
<P align=justify>Events or changes in circumstances can give rise to significant
impairment charges or reversals of impairment in a particular year. The Company
assesses its cash generating units annually to determine whether any indication
of impairment exists. Where an indicator of impairment exists, an estimate of
the recoverable amount is made, which is the higher of the fair value less costs
to sell and value in use. The determination of the recoverable amount for value
in use requires the use of estimates and assumptions such as long-term commodity
prices, discount rates, future capital requirements, exploration potential and
future operating performance. Fair value is determined as the amount that would
be obtained from the sale of the asset in an arm&#146;s length transaction between
knowledgeable and willing parties.</P>
<P align=justify><B>Cash and cash equivalents </B></P>
<P align=justify>Cash and cash equivalents include cash on hand, bank deposits
and short-term, highly liquid investments that are readily convertible to known
amounts of cash. </P>
<P align=justify><B>Share-based payments </B></P>
<P align=justify>Share-based payments include option and stock grants granted to
directors, employees and non-employees. The Company accounts for share-based
compensation using a fair value based method with respect to all share-based
payments measured and recognized, to directors, employees and non-employees. For
directors and employees, the fair value of the options and stock grants is
measured at the date of grant. For non-employees, the fair value of the options
and stock are measured at the fair value of the goods or services received or
the fair value of the equity instruments issued, if it is determined the fair
value of the goods or services cannot be reliably measured, and are recorded at
the date the goods or services are received. For directors, employees and
non-employees, the fair value of the options and stock grants is accrued and
charged to operations, with the offsetting credit to share based payment reserve
for options, and commitment to issue shares for stock grants over the vesting
period. If and when the stock options are exercised, the applicable amounts are
transferred from share-based payment reserve to share capital. When the stock
grants are issued, the applicable fair value is transferred from commitment to
issue shares to share capital. Option based compensation awards are calculated
using the Black-Scholes option pricing model while stock grants are valued at
the fair value on the date of grant. </P>
<P align=justify>The Company has granted certain employees and non-employess
restricted share units (&#147;RSUs&#148;) to be settled in shares of the Corporation. The
fair value of the estimated number of RSUs that will eventually vest, determined
at the date of grant, is recognized as share-based compensation expense over the
vesting period, with a corresponding amount recorded as equity. The fair value
of the RSUs is estimated using the market value of the underlying shares as well
as assumptions related to the market and non-market conditions at the grant
date. </P>
<P align=justify><B>Income taxes</B> </P>
<P align=justify>Income tax expense consists of current and deferred tax. Income
tax expense is recognized in profit or loss except to the extent that it relates
to items recognized directly in equity. Current tax is the expected tax payable
on the taxable income for the year, using tax rates enacted or substantively
enacted at the reporting date, and any adjustment to tax payable in respect of
previous years. Deferred tax is calculated providing for temporary differences
between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for taxation purposes. </P>
<P align=justify>Deferred tax is not recognized on the initial recognition of
assets or liabilities in a transaction that is not a business combination and
that affects neither accounting nor taxable income nor loss. In addition,
deferred tax is not recognized for taxable temporary differences arising on the
initial recognition of goodwill. Deferred tax is measured at the tax rates that
are expected to be applied to temporary differences when they reverse, based on
the laws that have been enacted or substantively enacted at the reporting date.
</P>
<P align=center>Page 16 </P>
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<!--$$/page=--><A name=page_17></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued) </P>
<P align=justify><B>Summary of Significant Accounting Policies
</B>(Continued)<B> </B></P>
<P align=justify><B>Income taxes</B> (Continued) </P>
<P align=justify>Deferred tax assets and liabilities are offset if there is a
legally enforceable right to offset, and they relate to income taxes levied by
the same tax authority on the same taxable entity, or on different tax entities,
but they intend to settle current tax liabilities and assets on a net basis or
their tax assets and liabilities will be realized simultaneously. </P>
<P align=justify>A deferred tax asset is recognized to the extent that it is
probable that future taxable income will be available against which the
temporary difference can be utilized. Deferred tax assets are reviewed at each
reporting date and are reduced to the extent that it is no longer probable that
the related tax benefit will be realized. </P>
<P align=justify><B>Income (loss) per share </B></P>
<P align=justify>Basic income or loss per share is calculated by dividing the
net income or loss for the year by the weighted average number of shares
outstanding during the year. Diluted income or loss per share is calculated
whereby the weighted average number of shares outstanding used in the
calculation of diluted income or loss per share assumes that the deemed proceeds
received from the exercise of stock options, share purchase warrants and their
equivalents would be used to repurchase common shares of the Company at the
average market price during the year, if they are determined to have a dilutive
effect. </P>
<P align=justify>Existing stock options and share purchase warrants have not
been included in the current year computation of diluted loss per share as to do
so would be anti-dilutive. For the years presented the basic and diluted losses
per share are the same. </P>
<P align=justify><B>Valuation of equity units issued in private placements
</B></P>
<P align=justify>The Company has adopted a residual value method with respect to
the measurement of shares and warrants issued as private placement units. The
residual value method first allocates value to the more easily measurable
component based on fair value and then the residual value, if any, to the less
easily measurable component. </P>
<P align=justify>The fair value of the common shares issued in the private
placements was determined to be the more easily measurable component and were
valued at their fair value, as determined by the closing quoted bid price on the
day prior to the issuance date. The balance, if any, was allocated to the
attached warrants. Any fair value attributed to the warrants is recorded in
reserves. </P>
<P align=justify><B>Segment reporting </B></P>
<P align=justify>Operating segments are reported in a manner consistent with the
internal reporting provided to the chief operating decision-maker. The chief
operating decision-maker, who is responsible for allocating resources and
assessing performance of the operating segment, has been identified as the Chief
Executive Officer. </P>
<P align=justify><B>Accounting pronouncements not yet effective</B> </P>
<P align=justify>The following standards and pronouncements have been issued by
the IASB and have not yet been adopted by the Company.</P>
<P align=justify>IFRS 9 requires financial assets to be classified into three
measurement categories on initial recognition: those measured at fair value
through profit and loss, those measured at fair value through other
comprehensive income and those measured at amortized cost. Measurement and
classification of financial assets is dependent on the entity&#146;s business model
for managing the financial assets and the contractual cash flow characteristics
of the financial asset. For financial liabilities, the standard retains most of
the IAS 39 requirements. </P>
<P align=center>Page 17 </P>
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<!--$$/page=--><A name=page_18></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued) </P>
<P align=justify><B>Summary of Significant Accounting Policies
</B>(Continued)<B> </B></P>
<P align=justify>In May 2014, the IASB issued IFRS 15 Revenue from Contracts
with Customers ("IFRS 15"), which supersedes IAS 11 Construction Contracts, IAS
18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the
Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and
SIC 31 Revenue - Barter Transactions involving Advertising Services. IFRS 15
establishes a single five-step model framework for determining the nature,
amount, timing and uncertainty of revenue and cash flows arising from a contract
with a customer. The standard is effective for annual periods beginning on or
after January 1, 2018, with early adoption permitted.</P>
<P align=justify>IFRS 16 Leases was issued in January 2016 (effective January 1,
2019) and provides a single lessee accounting model, requiring lessees to
recognize assets and liabilities for all leases unless the lease term is 12
months or less or the underlying asset has a low value.</P>
<P align=justify>The Company expects that these new IFRS standards will have an
insignificant effect on its consolidated financial statements other than
increased note disclosure. </P>
<P align=justify><B>Critical Accounting Judgments and Significant Estimates and
Uncertainties </B></P>
<P align=justify>The preparation of the consolidated financial statements
requires management to make judgments and estimates and form assumptions that
affect the reported amounts of assets and liabilities at the date of the
financial statements, and the reported revenue and expenses during the periods
presented therein. On an ongoing basis, management evaluates its judgments and
estimates in relation to assets, liabilities, royalty revenues and expenses.
Management bases its judgments and estimates on historical experience and on
other various factors it believes to be reasonable under the circumstances.
Actual results may differ from these estimates under different assumptions and
conditions.</P>
<P align=justify>The Company has identified the following critical accounting
policies in which significant judgments, estimates and assumptions are made and
where actual results may differ from these estimates under different assumptions
and conditions and may materially affect financial results or the financial
position reported in future periods. Further details of the nature of these
assumptions and conditions may be found in the relevant notes to the
consolidated financial statements. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><I>a)</I> </TD>
    <TD><I>Royalty interest and related depletion</I> </TD></TR></TABLE>
<P align=justify>In accordance with the Company&#146;s accounting policy, royalty
interests are evaluated on a periodic basis to determine whether there are any
indications of impairment. If any such indication exists, a formal estimate of
recoverable amount is performed and an impairment loss recognized to the extent
that carrying amount exceeds recoverable amount. The recoverable amount of a
royalty asset is measured at the higher of fair value less costs to sell and
value in use. The determination of fair value and value in use requires
management to make estimates and assumptions about expected production and sales
volumes, the proportion of areas subject to royalty rights, commodity prices
(considering current and historical prices, price trends and related factors),
and reserves. These estimates and assumptions are subject to risk and
uncertainty; hence there is a possibility that changes in circumstances will
alter these projections, which may impact the recoverable amount of the assets.
In such circumstances, some or all of the carrying value of the assets may be
further impaired or the impairment charge reduced with the impact recorded in
profit or loss. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><I>b)</I> </TD>
    <TD><I>Goodwill</I> </TD></TR></TABLE>
<P align=justify>Goodwill is evaluated for impairment annually or more often if
events or circumstances indicate there may be impairment. Impairment is
determined by assessing if the carrying value of a cash generating unit,
including the allocated goodwill, exceeds its recoverable amount. The assessment
of the recoverable amount used in the goodwill impairment analysis is subject to
similar judgments and estimates as described above for property and equipment
and royalty interests. </P>
<P align=center>Page 18 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES </B>(Continued)<B> </B></P>
<P align=justify><B>Summary of Significant Accounting Policies
</B>(Continued)<B> </B></P>
<P align=justify><B>Critical Accounting Judgments and Significant Estimates and
Uncertainties </B>(Continued) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><I>c)</I> </TD>
    <TD><I>Exploration and Evaluation Assets</I> </TD></TR></TABLE>
<P align=justify>Recorded costs of exploration and evaluation assets are not
intended to reflect present or future values of exploration and evaluation
assets. The recorded costs are subject to measurement uncertainty and it is
reasonably possible, based on existing knowledge, that a change in future
conditions could require a material change in the recognized amount. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><I>d)</I> </TD>
    <TD><I>Taxation</I> </TD></TR></TABLE>
<P align=justify>The Company&#146;s accounting policy for taxation requires
management&#146;s judgment as to the types of arrangements considered to be a tax on
income in contrast to an operating cost. Judgment is also required in assessing
whether deferred tax assets and certain deferred tax liabilities are recognized
on the statement of financial position.</P>
<P align=justify>Deferred tax assets, including those arising from unused tax
losses, capital losses and temporary differences, are recognized only where it
is considered probable that they will be recovered, which is dependent on the
generation of sufficient future taxable profits. Deferred tax liabilities
arising from temporary differences caused principally by the expected royalty
revenues generated by the royalty property are recognized unless expected
offsetting tax losses are sufficient to offset the taxable income and therefore,
taxable income is not expected to occur in the foreseeable future. Assumptions
about the generation of future taxable profits depend on management&#146;s estimates
of future cash flows. These depend on estimates of future production and sales
volumes, commodity prices, and reserves. Judgments are also required about the
application of income tax legislation in foreign jurisdictions. These judgments
and assumptions are subject to risk and uncertainty, hence there is a
possibility that changes in circumstances will alter expectations, which may
impact the amount of deferred tax assets and deferred tax liabilities recognized
on the statement of financial position and the amount of other tax losses and
temporary differences not yet recognized. In such circumstances, some or the
entire carrying amount of recognized deferred tax assets and liabilities may
require adjustment, resulting in a corresponding credit or charge to profit or
loss.</P>
<P align=justify>Information about critical judgments in applying accounting
policies that have the most significant effect on the amounts recognized in the
consolidated financial statements include, but are not limited to, the
following: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><I>a)</I> </TD>
    <TD><I>Functional Currencies</I> </TD></TR></TABLE>
<P align=justify>The functional currency of each of the Company&#146;s subsidiaries
is the currency of the primary economic environment in which the entity
operates. Determination of the functional currency may involve certain judgments
to determine the primary economic environment and the Company reconsiders the
functional currency of its entities if there is a change in events and
conditions, which determined the primary economic environment.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">b) </TD>
    <TD><I>Classification of investments as subsidiaries, joint ventures,
      associated company and portfolio investments</I> </TD></TR></TABLE>
<P align=justify>Classification of investments requires judgement as to whether
the Company controls, has joint control of or significant influence over the
strategic financial and operating decisions relating to the activity of the
investee. In assessing the level of control or influence that the Company has
over an investment, management considers ownership percentages, board
representation as well as other relevant provisions in shareholder agreements.
If an investor holds 20% or more of the voting power of the investee, it is
presumed that the investor has significant influence, unless it can be clearly
demonstrated that this is not the case. Conversely, if the investor holds less
than 20% of the voting power of the investee, it is presumed that the investor
does not have significant influence, unless such influence can be clearly
demonstrated. </P>
<P align=center>Page 19 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>3. INVESTMENTS </B></P>
<P align=justify>For the years ended December 31, 2017 and 2016, the Company had
the following investments: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="12%" >&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" ><B>Accumulated</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="12%" >&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>Cost</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>unrealized loss</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>Fair value</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Fair value through profit
      or loss</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Marketable securities </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >&nbsp;2,396,251 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >&nbsp;(1,256,804</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >&nbsp;1,139,447 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Total Fair value
      through profit or loss </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >2,396,251 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(1,256,804</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >1,139,447 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Available-for-sale</B> </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Marketable securities </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >2,287,141 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(87,942</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >2,199,199 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total investments </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;4,683,392 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;(1,344,746</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;3,338,646 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="12%" >&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=right
    width="12%" ><B>Accumulated</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="12%" >&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>Cost</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>unrealized loss</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" ><B>Fair value</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Fair value through profit
      or loss</B> </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff
      >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Marketable securities </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >&nbsp;1,641,751 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >&nbsp;(1,378,995</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" >&nbsp;262,756 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Total Fair value
      through profit or loss </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >1,641,751 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >(1,378,995</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >262,756 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Available-for-sale</B> </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" >&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Marketable securities </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >910,473 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(697,675</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >212,798 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total investments </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;2,552,224 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;(2,076,670</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;475,554 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=justify>During the year ended December 31, 2017, the Company recorded a
loss of $Nil (2016 - $697,675) related to the permanent impairment of certain
available-for-sale marketable securities. The Company had sustained significant
unrealized losses for which there was no expectation of reversal in the
forseable future.</P>
<P align=justify><B>4. RECEIVABLES </B></P>
<P align=justify>The Company&#146;s receivables are related to the sale of foreign
subsidiaries, royalty receivable, goods and services tax and harmonized sales
taxes receivable from government taxation authorities, and recovery of
exploration expenditures from joint venture partner.</P>
<P align=justify>As at December 31, 2017 and 2016, the current receivables were
as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Category</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%" ><B>December 31,
      2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%" ><B>December 31,
      2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Sale of Akarca (Note 9) </TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;2,447,595 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;4,145,898 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Royalty income receivable </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >258,223 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >306,513 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Refundable taxes </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >151,163 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >142,857 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Recoverable exploration expenditures and
      advances </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >270,547 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >79,090 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Other </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >248,883 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >168,375 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">As at December 31, 2017 </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >3,376,411 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >4,842,733 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Less: Long term portion </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >(1,412,727</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;3,376,411 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;3,430,006 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=center>Page 20 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_21></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>4. RECEIVABLES </B>(Continued) </P>
<P align=justify>The carrying amounts of the Company&#146;s current and non &#150; current
receivables are denominated in the following currencies: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Currency</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%" ><B>December 31,
      2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%" ><B>December 31,
      2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Canadian Dollars </TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;280,925 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >&nbsp;48,448 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">US Dollars </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >3,040,347 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >4,744,825 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Turkish Lira </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >24,535 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff
      >41,785 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Swedish Krona </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >29,575 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" >6,824 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Other </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >1,029 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff >851 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;3,376,411 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" >&nbsp;4,842,733 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=justify><B>5. RESTRICTED CASH </B></P>
<P align=justify>At December 31, 2017, the Company classified $771,434 (2016 -
$359,172) as restricted cash. This amount is comprised of $179,502 (2016 -
$189,233) held as collateral for its corporate credit cards, $Nil (2016 -
$65,706) held as a security deposit for the Company&#146;s Haiti exploration program,
and $591,932 (2016 &#150; $104,233) cash held by wholly-owned subsidiaries of the
Company whose full amount is for use and credit to the Company&#146;s exploration
venture partners in USA pursuant to expenditure requirements for ongoing option
agreements. </P>
<P align=center>Page 21 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_22></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>6. PROPERTY AND EQUIPMENT </B></P>
<P align=justify>During the year ended December 31, 2017 depreciation of $10,722
(2016 - $21,711; 2015 - $34,633) has been included in exploration
expenditures.</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="8%"><B>Computer</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="8%"><B>Field</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="8%"><B>Office</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="8%"><B>Vehicles</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="8%"><B>Building</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="8%"><B>Land</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="8%"><B>Total</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Cost</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">As
      at December 31, 2014 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;91,713 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;146,041 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;6,635 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;197,200 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;572,443 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;414,526 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">1,428,558 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Additions </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>7,981 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>10,224 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>1,170 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>16,105 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>6,065 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>41,545 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Disposals and derecognition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(2,152</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(3,059</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(165,888</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(171,099</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">As at December 31, 2015 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>99,694 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>154,113 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>4,746 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>47,417 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>578,508 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>414,526 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>1,299,004 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Additions </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">10,549 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">6,450 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">16,999 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Disposals and derecognition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(79,630</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(2,365</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(47,417</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(129,412</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">As
      at December 31, 2016 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">110,243 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">80,933 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">2,381 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">578,508 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">414,526 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">1,186,591 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Additions </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>20,447 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>4,337 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>24,784 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Disposals and derecognition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(20,756</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(20,756</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">As at December 31, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;110,243 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;60,177 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;2,381 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;598,955 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;418,863 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>1,190,619 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Accumulated depreciation</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">As
      at December 31, 2014 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;91,713 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;106,850 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;3,958 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;157,625 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;317,183 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">&nbsp;677,329 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Additions </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>7,981 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>8,161 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>1,832 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>15,595 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>117,213 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>150,782 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Disposals and derecognition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(1,680</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(1,656</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(140,231</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(143,567</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">As at December 31, 2015 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>99,694 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>113,331 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>4,134 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>32,989 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>434,396 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>684,544 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Additions </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">7,438 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">12,601 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">671 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">115,490 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%">136,200 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Disposals and derecognition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(70,444</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(1,753</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(33,660</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>(105,857</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">As
      at December 31, 2016 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">107,132 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">55,488 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">2,381 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">549,886 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">714,887 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Additions </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>3,111 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>7,104 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>29,129 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="8%" bgColor=#e6efff>39,344 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Disposals and derecognition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(13,890</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="8%">(13,890</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">As at December 31, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;110,243 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;48,702 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;2,381 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;579,015 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;740,341 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD>
    <TD vAlign=bottom width="1%">&nbsp;</TD>
    <TD vAlign=bottom width="8%">&nbsp; </TD>
    <TD vAlign=bottom width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Net book value</B> </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="8%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>As at December 31, 2016</B> </TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="8%">&nbsp;3,111 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="8%">&nbsp;25,445 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="8%">&nbsp;- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="8%">&nbsp;- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="8%">&nbsp;28,622 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="8%">&nbsp;414,526 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">$</TD>
    <TD vAlign=bottom align=right width="8%">&nbsp;471,704 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>As at December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;11,475 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;19,940 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;418,863 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="8%" bgColor=#e6efff>&nbsp;450,278 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE></DIV>
<P align=justify>During the year ended December 31, 2017, the Company sold fully
amortized equipment to an associated entity and recorded a gain on sale of
$29,766 and a corresponding receivable due from the investment in the associated
entity. The sale value of the equipment was determined to be market value.
Included in gain (loss) on acquisition and sale of exploration and evaluation
assets was field equipment in Australia with a book value of $6,866. </P>
<P align=justify>During the year ended December 31, 2016, the Company sold
certain foreign operations for a gain of $6,834,999. Included in this gain was
property and equipment with a net book value of $23,555.</P>
<P align=justify>During the year ended December 31, 2015, the Company acquired
and sold certain exploration and evaluation assets for a net gain of $5,393,305.
Included in this gain was the acquisition of property and equipment with a net
book value of $7,013. Also, during the year ended December 31, 2015 the Company
sold property and equipment with a net book value of $21,041 for total proceeds
of $36,933 for a net gain of $15,892, and included in exploration and evaluation
expenditures is a loss on disposal of property and equipment with a net book
value of $6,490.</P>
<P align=center>Page 22 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>7. NOTES RECEIVABLE</B></P>
<P align=justify>On February 5, 2015, the Company entered into a convertible
loan agreement with IG Copper, LLC (&#147;IGC&#148;), an associated company of EMX (Note
8) allowing IGC to borrow up to a maximum of US$500,000. The loan carried an
interest rate of 8% per annum and the full amount of the principal and interest
was due January 3, 2017. The full US$ 500,000 had been drawn and during the year
ended December 31, 2016, the Company entered into an amended and restated loan
agreement with IGC such that the IGC Loan shall include any additional sums that
were advanced by the Company to, or paid by the Company on behalf of IGC from
time to time prior to January 3, 2017. As such, US$198,953 of expenses paid by
the Company on behalf of IGC were added to the IGC Loan. </P>
<P align=justify>At any time prior to the maturity date, the Company had the
right to convert all or any part of the outstanding amount of the loan into
membership units at US$6.00 per unit. If IGC completed a financing at less than
US$6.00 per unit, the conversion price will be adjusted to the price used in the
financing. Each membership unit represents a single membership interest in IGC.
Additionally, if subsequent to the date of the Amended Agreement, IGC completes
a financing and, as part of that financing, issues warrants to purchase Units or
other securities of IGC, then the Company shall be entitled, upon conversion of
the IGC Loan and accrued and unpaid interest, to also receive warrants to
purchase Units or other securities of IGC on the same terms as the warrants
issued in such financing.</P>
<P align=justify>During fiscal 2016, the Company advanced an additional
US$400,000. On August 15, 2016, the Company converted the full amount of the
outstanding loan, US$1,184,511 inclusive of accrued interest of US$85,558, at
US$5.00 per unit, which was the unit price of the most recently completed
financing, into 236,902 membership units and 236,902 warrants of IGC. </P>
<P align=justify>During the year ended December 31, 2017, the Company issued
convertible notes to IGC allowing IGC to borrow up to US$750,000. The notes
carried an interest rate of 8% per annum and the full amount of the principal
and interest is due 12 months from the date of the note. The full US$750,000 was
drawn. At any time prior to the maturity date, the Company had the right to
convert all or any part of the principal sums and accrued interest into
membership Units of IGC at US$5.00 per Unit. Each membership Unit consists of
one Membership Interest and one warrant to purchase one Membership Interest for
US$6.00 during a period of 12 months from the conversion date. </P>
<P align=justify>The notes receivable consisted of two components: the note
receivable component and the equity conversion option. At initial recognition
the fair value of the equity conversion option was estimated to be $79,220. The
fair value of the note receivable component was estimated at $926,057. The note
receivable component is accreted over its expected term using the effective
interest method at an effective rate of approximately 18%. For the year ended
December 31, 2017, the Company recorded $51,877 of interest income, as well as a
foreign exchange loss of $38,401. On November 30, 2017, the Company converted
the full amount of the outstanding loans, $1,017,540 (US$789,967) inclusive of
accrued interest of $51,877 (US$39,967), at US$5.00 per unit, which was the unit
price of the most recently completed financing, into 157,993 membership units
and 157,993 warrants of IGC. </P>
<P align=justify>On October 16, 2017, the Company issued notes receivable to
Revelo Resources Corp., a related party by way of a common director for the
principal amount of $400,000. The note was due on December 31, 2017, together
with accrued interest at a rate of 1% per month and a bonus of $20,000. As at
December 31, 2017, the balance owed to the Company pursuant to the note was
$429,973 including accrued interest and bonus fee. The Company is negotiating
the terms of repayment. </P>
<P align=justify><B>8. INVESTMENTS IN ASSOCIATED COMPANIES </B></P>
<P align=justify>The Company has a 41% (2016 &#150; 39%; 2015 &#150; 42%) equity
investment in IGC. At December 31, 2017, including the conversion of convertible
notes, cash purchases of shares, and interest on any balances due from IGC, the
Company has invested an aggregate of US$11,354,977 towards its investment (2016
- US$8,967,010; 2015 - US$7,782,500). At December 31, 2017, the Company&#146;s
investment including dilution gains, less its share of accumulated equity losses
was $7,578,989 (2016 - $4,992,823). The Company&#146;s share of the net loss for the
year ended December 31, 2017 was $994,548 (2016 - $1,295,568; 2015 -
$1,062,146).</P>
<P align=center>Page 23 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>8. INVESTMENTS IN ASSOCIATED COMPANIES </B>(Continued)<B>
</B></P>
<P align=justify>The Company has a minority position on the Board of IGC, and
does not control operational decisions. The Company&#146;s judgment is that it has
significant influence, but not control and accordingly equity accounting is
appropriate. </P>
<P align=justify>As at December 31, 2017, associated companies&#146; aggregate
assets, aggregate liabilities and net loss for the year ended are as follows:
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>December 31, 2017</B>
    </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%" bgColor=#ffffff><B>IGC</B>
</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Aggregate assets </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;6,127,735
    </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Aggregate liabilities </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">(1,108,694</TD>
    <TD vAlign=bottom align=left width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Loss for the year </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(2,713,490</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">The Company's ownership % </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">41% </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">The Company's share of loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>(994,548</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR></TABLE>
<P align=justify>As at December 31, 2016, associated companies&#146; aggregate
assets, aggregate liabilities and net loss for the year are as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>December 31, 2016</B>
    </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%" bgColor=#ffffff><B>IGC</B>
</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Aggregate assets </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;6,884,378
    </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Aggregate liabilities </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#ffffff>(1,471,260</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Loss for the year </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(3,216,120</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">The Company's ownership % </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#ffffff>39% </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">The Company's share of loss for the year </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>(1,295,568</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR></TABLE>
<P align=justify>During the year ended December 31, 2017, the Company recognized
a dilution gain of $503,543 (2016 - $982,634) related to the Company&#146;s change in
ownership percentage as a result of IGC&#146;s share issuance for cash proceeds and
loan conversions. </P>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B></P>
<P align=justify><B>Acquisition Costs </B></P>
<P align=justify>At December 31, 2017 and 2016, the Company has capitalized the
following acquisition costs on its exploration and evaluation assets: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left><B>Region</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="51%"><B>Properties</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>Asia Pacific </TD>
    <TD vAlign=bottom align=left width="51%" bgColor=#e6efff>Various </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;81,124 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>Sweden </TD>
    <TD vAlign=bottom align=left width="51%">Various </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">16,671 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">16,671 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="51%" bgColor=#e6efff>Viad royalties
</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>421,084 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>421,084 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>Turkey </TD>
    <TD vAlign=bottom align=left width="51%">Alankoy </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">153,960 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">153,960 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="51%" bgColor=#e6efff>Sisorta </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; </TD>
    <TD vAlign=bottom align=left width="51%">Trab </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">78,587 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">78,587 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>United States </TD>
    <TD vAlign=bottom align=left width="51%" bgColor=#e6efff>Superior West,
      Arizona </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>867,096 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>1,000,479 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>of
      America </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="51%">Yerington, Nevada </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">304,568 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">393,095 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="51%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;1,841,966 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;2,145,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>During the year ended December 31, 2017, the Company received a
$133,383 (US$100,000) annual option payment related to an exploration and option
to purchase agreement for the Superior West project with Kennecott Exploration
Company (&#147;Kennecott&#148;). The Company also received the annual option payment
related to an option agreement with Mason Resources Corp (&#147;Mason&#148;) for $88,527 (US$75,000) and applied against the
Yerington project. Also during the year ended December 31, 2017, the Company
sold the wholly owned Australian subsidiary that held the Koonenberry licences
in Australia. As part of the sale, the Company transferred the ownership of the
Koonenberry property which had a capitalized cost of $81,124. </P>
<P align=center>Page 24 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(continued)<B>
</B></P>
<P align=justify>During the year ended Dececmber 31, 2016, the Company received
a $129,820 (US$100,000) annual option payment related to an exploration and
option to purchase agreement for the Superior West project with Kennecott
Exploration Company (&#147;Kennecott&#148;) applied against the Superior West capitalized
costs. Also during the year ended December 31, 2016, the Company sold its
Sisorta project in Turkey and all capitalized costs were recovered. </P>
<P align=justify>During the year ended December 31, 2015 the Company wrote-off
$56,085 of capitalized exploration costs related to the termination of a 1% net
smelter returns royalty (&#147;NSR&#148;) agreement on one of its interests in Haiti. </P>
<P align=justify><B><U>Sweden and Norway Licenses</U></B><B> </B></P>
<P align=justify>The Company holds certain exploration permits in Sweden and
Norway. There are no specific spending commitments on the Swedish licenses and
permits. </P>
<P align=justify>On February 14, 2017, the Company completed an agreement to
sell certain wholly owned subsidiaries in Sweden previously announced in
November 2016, to Boreal Metals Corp. (&#147;BMC&#148;)(TSX-V: BMX), a British Columbia
corporation. Pursuant to the agreement BMC acquired two wholly-owned
subsidiaries of the Company that control the Gumsberg and Adak exploration
assets in Sweden and the Tynset and Burfjord assets in Norway. In exchange for
the transfer of its wholly-owned subsidiary Iekelvare AB, which owns the
Gumsberg and Adak properties, and its entire interest in its wholly-owned
subsidiary EMX Exploration Scandinavia AB, which owns the Tynset and Burfjord
properties BMC must complete the following: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>BMC issued 1,713,390 common shares to EMX representing a
      19.9% equity ownership in BMC. BMC had thecontinuing obligation to issue
      additional shares of BMC to EMX to maintain its 19.9% interest in Boreal,
      at no additional cost to EMX, until BMC raised CAD $5,000,000 in equity
      (completed). EMX now has the right to participate pro-rata in future
      financings at its own cost to maintain its 19.9% interest in Boreal.
    </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>BMC also agreed to reimburse SEK 550,000 ($81,996,
      received) to the Company for license fees related to the Adak license.
    </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>As part of the agreement, EMX will receive an uncapped 3%
      NSR royalty on each of the properties. Within five years of the closing
      date, BMC has the right to buy down up to 1% of the royalty on any given
      project by paying EMX US$2,500,000 in cash and shares of BMC. Such buy
      down is project specific. </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>Additionally, EMX will receive annual advance royalty
      (&#147;AAR&#148;) payments of US$20,000 for each of the properties commencing on the
      second anniversary of the closing, with each AAR payment increasing by
      US$5,000 per year until reaching US$60,000 per year, except that BMC may
      forgo AAR payments on two of the four Properties in years two and three.
      </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>EMX will also receive a 0.5% NSR royalty on any new
      mineral exploration projects generated by BMC in Sweden or Norway,
      excluding projects acquired from a third party containing a mineral
      resource or reserve or an existing mining operation. These royalties are
      not capped and not subject to a buy down. </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>As part of the agreement, EMX also has the right to
      nominate one seat on the Board of Directors of BMC.
</P></TD></TR></TABLE>
<P align=justify>Pursuant to the sale agreement, the Company received 1,713,390
shares of BMC on signing and valued the shares received at $0.05 per share or
$85,670, and paid a US$12,000 ($15,862) finders fee. Subsequent to signing,
pursuant to equity and private placements completed by BMC, BMC issued EMX a
further 7,492,492 shares to EMX valued at $1,290,998. Pursuant to the sale
agreement, EMX has recorded a total gain on sale of $1,393,224. As at December
31, 2017, EMX held 9,205,882 shares of BMC representing approximately a 17.8%
interest. </P>
<P align=center>Page 25 </P>
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<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>Sweden and Norway Licenses </U></B><U>(continued)</U>
</P>
<P align=justify>In December 2017, the Company executed an option agreement for
the sale of the Sl&#228;ttberg licenses in Sweden to Sienna Resources Inc. (&#147;Sienna&#148;)
(TSX-V: SIE). As part of the agreement, Sienna can earn a 100% interest in the
project during a one-year option period by completing the following: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>On signing the agreement, Sienna issued EMX 3,000,000
      common shares of Sienna stock valued at $750,000; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>As a condition to the exercise of the option, Sienna must
      undertake work commitments of at least $500,000 on the project, including
      drilling of at least 750 meters. </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>Upon exercise of the option, issue to EMX an additional
      3,000,000 common shares of Sienna, and EMX will receive a 3% NSR royalty
      on the project. </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>After exercise of the option, Sienna will use
      commercially reasonable efforts to raise $3,000,000 for development of the
      project and other activities. Once Sienna has raised that amount, Sienna
      will issue an additional 4,000,000 common shares to EMX. Thereafter, EMX
      will have the right to participate pro-rata in future financings at its
      own cost to maintain its interest in Sienna. </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD >&#149; </TD>
    <TD width="90%" >
      <P align=justify>Within six years of the execution of the agreement,
      Sienna may purchase 0.5% of the NSR royalty for $1,500,000, <BR>leaving
      EMX with a 2.5% NSR royalty. </P></TD></TR></TABLE>
<P align=justify><B><U>United States</U></B><B> </B></P>
<P align=justify><B>Aguila de Cobre, Arizona </B></P>
<P align=justify>On July 30, 2015, the Company, through its wholly-owned
subsidiary Bronco Creek Exploration Inc. (&#147;BCE&#148;), entered into an option
agreement to sell the Aguila de Cobre property for a combination of cash
payments and work commitments. The agreement grants Kennecott Exploration
Company (&#147;KEX&#148;), part of the Rio Tinto Group, the option to acquire a 100%
interest in the property.</P>
<P align=justify>During April 2016, KEX terminated its option to aquire the
interest in the property. </P>
<P align=justify><B>Cathedral Well, Nevada </B></P>
<P align=justify>In June 2014, the Company signed an exploration and option
agreement through its wholly-owned subsidiary BCE, with Ely Gold and Minerals
Inc. (&#147;Ely Gold&#148;) (TSX Venture: ELY) to earn a 100% interest in the Cathedral
Well project by paying EMX a total of US$100,000 over the next three years after
which the Company will retain a 2.5% NSR royalty, inclusive of an underlying
0.5% NSR royalty. Ely Gold completed their earn-in for the property in November
of 2016 through a trade with EMX, whereby a subsidiary of Ely Gold executed a
quit claim deed for certain mining claims adjacent to EMX&#146;s Spring Canyon
property in Nevada in lieu of its last US$25,000 option payment. In December
2016, Ely Gold announced it had optioned the property to Colorado Resources Ltd.
(TSX-V: CXO).</P>
<P align=justify><B>Hardshell Skarn, Arizona </B></P>
<P align=justify>The Company holds a 100% interest in the Hardshell Skarn
property comprised of certain unpatented federal lode mining claims. </P>
<P align=justify>In October 2015, the Company signed an exploration and option
agreement through its wholly-owned subsidiary FOBC LLC, with Arizona Mining Inc,
to earn a 100% interest in the project by paying the Company a total of
US$85,000 as follows: US$25,000 (received) upon execution of the agreement and
US$60,000 (received) over the next three years. In 2017, Arizona Mining earned a
100% interest in the project under the agreement by accelerating and completing
the required US$85,000 in cash payments. The Company now retains a 2% NSR. After
exercise of the option, annual advanced royalty payments of US$5,000 commence on
the first anniversary of the exercise of the option. After commencement of
commercial production, the Company is due payments of US$5,000 or the royalty
coming due that year, whichever is greater. </P>
<P align=center>Page 26 </P>
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style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>United States </U></B><U>(continued)</U><B> </B></P>
<P align=justify><B>Greenwood Peak, Arizona</B></P>
<P align=justify>In November 2017, EMX executed an Option Agreement with a
wholly owned subsidiary of Antofagasta plc (&#147;Antofagasta&#148;) (LSE: Anto) wherby
Antofagasta can earn a 100% interest in the Greenwood Peak project by: a)
reimbursing EMX&#146;s acquisition costs and making annual option payments, together
totaling US$630,000 ($30,000 received), and b) completing US$4,500,000 in work
expenditures within the five year option period. Upon exercise of the option EMX
will retain a 2% NSR royalty on the project, which is not capped and not subject
to buy-down. After exercise of the option, annual advance royalty and milestone
payments will be due to EMX.</P>
<P align=justify><B>Copper Springs, Copper King, and Red Top Properties, Arizona
</B></P>
<P align=justify>In September 2013, the Company, through its wholly owned
subsidiary BCE, entered into option agreements to sell the Copper Springs,
Copper King, and Red Top projects for a combination of cash payments, work
commitments, and common shares. The agreements grant Desert Star Resources Ltd.
(&#147;Desert Star&#148;), a TSX-V listed company, the option to acquire a 100% interest
in each of the projects.</P>
<P align=justify>Desert Star delivered 1,050,000 common shares of Desert Star
and is required to incur a minimum of US$5,000,000 in exploration expenditures
by the seventh anniversary of the signing date, and making additional milestone
payments to the Company. </P>
<P align=justify><U>Copper Springs, Arizona</U> </P>
<P align=justify>In January, 2015, Desert Star terminated its interest in the
Copper Springs project and the Company regained 100% control of the project.
</P>
<P align=justify>On February 25, 2017, through BCE, the Company executed an
Option Agreement for Copper Springs with Anglo American Exploration (USA), Inc.
(&#147;Anglo American&#148;). Anglo American can earn a 100% interest in the project by:
a) reimbursing 2016 holding and permitting costs and making annual option
payments, together totaling US$447,000 ($82,000 received), and b) completing
US$5,000,000 in exploration expenditures before the fifth anniversary of the
agreement. Upon exercise of the option, Anglo American will pay EMX an
additional US$110,000 and EMX will retain a 2% NSR royalty on the project. The
royalty is not capped or purchasable, except over two parcels of Arizona State
Land where Anglo American can buy a 0.5% NSR royalty from EMX for US$2,000,000.
After exercise of the option, annual advanced minimum royalty (&#147;AMR&#148;) payments
and milestone payments will be due to EMX. </P>
<P align=justify><U>Copper King, Arizona</U> </P>
<P align=justify>On September 1, 2014, and July 21, 2015 the Copper King
agreement was amended, extending the 2<SUP>nd</SUP> anniversary payments and
work commitments into 2016. On March 1, 2016, Desert Star terminated its option
on the Copper King project. In October 2016, the Company, through BCE, entered
into an option agreement to sell the Copper King property for a combination of
cash payments and work commitments. The agreement grants Kennecott the option to
acquire a 100% interest in the property.</P>
<P align=justify>Pursuant to the Agreement, Kennecott can earn a 100% interest
in the Project by (a) reimbursing the 2016 holding costs and making option
payments, together totaling US$504,314 (US$79,314 received), and (b) completing
US$4,000,000 in exploration expenditures before the fifth anniversary of the
Agreement Upon exercise of the option EMX will retain a 2% NSR royalty on the
project which is not capped or purchasable.</P>
<P align=justify>After exercise of the option, AMR payments and milestone
payments will be due to EMX. </P>
<P align=center>Page 27 </P>
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>United States </U></B><U>(continued)</U><B> </B></P>
<P align=justify><U>Red Top, Arizona</U> </P>
<P align=justify>On September 1, 2014, and July 31, 2015 the Red Top agreement
was amended extending the 2<SUP>nd</SUP> anniversary payments and work
commitments into 2016. In January 2017 Desert Star terminated its option on the
Red Top project and returned 100% control of the project to BCE. </P>
<P align=justify><B>Buckhorn Creek and Frazier Creek Properties, Arizona and
Nevada </B></P>
<P align=justify>In October 2013, the Company, through its wholly owned
subsidiary BCE, entered into option agreements to sell the Frazier Canyon and
Buckhorn Creek projects for a combination of cash payments, work commitments,
and common shares. The agreements granted Savant Explorations Ltd. (&#147;Savant&#148;), a
TSX-V listed company, the option to acquire a 100% interest in each of the
projects.</P>
<P align=justify>On April 27, 2015, Savant terminated its option to acquire the
Frazier Creek property and the Company relinquished all mineral rights on the
Frazier Creek property. On September 24, 2015, Savant terminated its interest in
the Buckhorn Creek property with the Company retaining 100% ownership of the
property. </P>
<P align=justify><B>Superior West, Arizona </B></P>
<P align=justify>The Company holds a 100% interest in the mineral rights
comprised of certain federal unpatented mining claims, located on Tonto National
Forest lands and unpatented federal mining claims under option. The Company also
may earn a 100% interest in additional adjacent claims under option from a third
party for cash payments totaling US$1,000,000 on or before January 2017 and
subject to a 2% NSR Royalty, 1% of which may be purchased for US$2,000,000 in
0.5% increments. The Company exercised the option in December 2016, and retains
a 100% interest in the project. </P>
<P align=justify>On May 4, 2015, the Company entered into an exploration and
option to purchase agreement, through its wholly owned subsidiary BCE, for the
Superior West project with Kennecott. Pursuant to the agreement, Kennecott can
earn a 100% interest in the project by making cash payment upon execution of the
agreement of US$149,187 (received), and thereafter completing US$5,500,000 in
exploration expenditures and paying annual option payments totaling US$1,000,000
(US $100,000 received in March 2016, and US$100,000 received in January 2017 )
before the fifth anniversary of the agreement. For the execution payment,
US$50,000 ($52,500) was applied against the Superior West capitalized costs, and
the balance of US$99,187 was a direct reimbursement to the Company for holding
costs to maintain the property in good standing. Upon exercise of the option EMX
will retain a 2% NSR royalty on the properties. Kennecott has the right to buy
down 1% of the NSR royalty from underlying claim holders by payment of
US$4,000,000 to EMX.</P>
<P align=justify>Kennecott has maintained or exceeded any minimum requirements
for expenditures on the project and the agreement remains in good standing. </P>
<P align=justify><B>Mineral Hill, Wyoming </B></P>
<P align=justify>In October 2016, the Company, through its wholly-owned
subsidiary BCE, entered into an option agreement with Coeur Explorations, Inc.,
a subsidiary of Coeur Mining, Inc. (NYSE: CDE) (&#147;Coeur&#148;) to acquire a 100%
interest in the property. The Company&#146;s Mineral Hill project is held under a
pooling agreement with a private group, Mineral Hill L.P. (&#147;MHL&#148;), with all
proceeds split 50:50, except for the sale of surface rights associated with
several patented mining claims. </P>
<P align=justify>Pursuant to the Agreement, Coeur may acquire a 100% interest in
the Property by a) making yearly option payments, beginning upon execution of
the Agreement, totaling US$435,000 (US$10,000 received upon execution, US$15,000
received in October 2017), b) making exploration expenditures totaling
US$1,550,000 on or before the fifth anniversary of the agreement, and c) paying
US$250,000 upon exercise of the option. </P>
<P align=center>Page 28 </P>
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<TABLE
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  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>United States </U></B><U>(continued)</U><B> </B></P>
<P align=justify>Upon exercise of the option, EMX and MHL will retain a 4% NSR
royalty, of which Coeur may purchase up to 1.5% of the NSR royalty if, within
sixty days after the completion of a PEA, Coeur purchases the first 0.5% for
US$1,000,000. Coeur may purchase an additional 0.5% or 1% of the NSR royalty at
any time thereafter for US$2,000,000 per 0.5% interest (maximum total buy down
of 1.5%), with EMX and MHL retaining a 2.5% interest. </P>
<P align=justify>After the option exercise, EMX and MHL will receive annual
advance minimum royalties of US$150,000 and, upon completion of a feasibility
study, a milestone payment of US$1,000,000. </P>
<P align=justify><B>Ophir, Utah </B></P>
<P align=justify>In October 2016, the Company completed the sale of five
patented mining claims comprising its Ophir property in Utah, through its wholly
owned subsidiary Bullion Monarch Mining Inc., to Kennecott. The terms of the
sale include a cash payment of US$75,000 (received) to EMX at closing, with the
Company retaining a 2% NSR royalty on the property. </P>
<P align=justify><B>Yerington West, Nevada </B></P>
<P align=justify>The Yerington West property is comprised of certain unpatented
federal mining claims located on lands administered by the BLM. Yerington West
is under an Option Agreement, dated September 24, 2009 originally with Entr&#233;e
Gold Inc. ("Entr&#233;e"), and now is with Mason Resources Corp. ("Mason") (TSX: MNR)
as a result of a 2017 "spin out" whereby Entr&#233;e transferred the Ann Mason
project, which includes EMX's Yerington West property, into Mason, a newly
incorporated company.</P>
<P align=justify>Under the agreement, Mason can earn up to an 80% interest in
the project by a) incurring expenditures of $1,000,000, making cash payments of
$140,000, and issuing 85,000 shares within three years (completed by Entr&#233;e), b)
making aggregate advance royalty payments totaling $375,000, being US$50,000 per
year between the fifth and seventh anniversaries (received), and $75,000 per
year between the eighth and tenth anniversaries ($75,000 received during the
year ended Dececmber 31, 2017); and (c) delivering a feasibility study before
the tenth anniversary of the agreement. Under the agreement, once earn-in has
been completed, EMX can convert its interest to a 2.5% NSR. Mason has the option
to buy down 1.5% of the NSR for US$4,500,000 million.</P>
<P align=justify><B>Various </B></P>
<P align=justify>The Company holds interests acquired by staking in several
jurisdictions including Utah, Nevada, Arizona, Colorado and Wyoming. </P>
<P align=justify><B><U>Turkey</U></B><B> </B></P>
<P align=justify>The Company has acquired numerous exploration licenses in
Turkey for which there are no specific spending commitments. </P>
<P align=justify><B>Akarca Property </B></P>
<P align=justify>On June 20, 2013, the Company entered into an option agreement
to sell its 100% interest in AES Madencilik A.S. ("AES Turkey"), a Turkish
corporation that controls the Akarca property, for a combination of cash
payments, gold bullion, work commitments, and a royalty interest to &#199;olakoglu, a
privately owned Turkish company.</P>
<P align=justify>Colakoglu paid $350,000 and completed drilling requirements on
the project and was required to pay additional amounts to earn its interest. In
October, 2015, &#199;olakoglu advised EMX that it decided to forego exercising the
option and the Company regained 100% control of the Akarca project.</P>
<P align=center>Page 29 </P>
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  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>Turkey </U></B><U>(continued)</U><B> </B></P>
<P align=justify>Effective July 29, 2016, the Company entered into a share
purchase agreement for the sale of AES Madencilik A.S. (&#147;AES&#148;), the wholly-owned
EMX subsidiary that controls the Akarca gold-silver project in western Turkey,
to &#199;iftay in&#351;aat Taahh&#252;t veTicaret A.&#350;. ("&#199;iftay"), a privately owned
Turkish company. </P>
<P align=justify>The terms of the sale provide payments to EMX as summarized
below (gold payments can be made as gold bullion or the cash equivalent):</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>US$2,000,000 cash payment ($2,630,760) to EMX upon
      closing of the sale (received); </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>500 ounces of gold every six months commencing February
      2, 2017 up to a cumulative total of 7,000 ounces of gold. Received
      US$601,825 in February, 2017 and US$634,825 in July, 2017, and credited
      against accounts receivable. Receipt of these payments leaves a
      pre-production total of 6,000 ounces of gold (or the cash equivalent) to
      be paid to EMX. </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>7,000 ounces of gold within 30 days after the
      commencement of commercial production from the Property provided that
      prior gold payments will be credited against this payment; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>250 ounces of gold upon production of 100,000 ounces of
      gold from the Property; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>250 ounces of gold upon production of an aggregate of
      500,000 ounces of gold from the Property; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left  >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>A sliding-scale royalty in the amount of the following
      percentages of production returns after certain deductions (&#147;Royalty&#148;) for
      ore mined from the Property: </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="15%"  >&nbsp;</TD>
    <TD align=left >o </TD>
    <TD align=left width="79%">
      <P align=justify>For gold production: 1.0% on the first 100,000 ounces of
      gold; 2.0% on the next 400,000 ounces of gold; 3.0% on all gold production
      in excess of 500,000 ounces produced from the Property, and; </P></TD></TR>
  <TR vAlign=top>
    <TD width="15%" >&nbsp;</TD>
    <TD align=left >o </TD>
    <TD align=left width="79%">
      <P align=justify>For all production other than gold production: 3.0%.
    </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%">The Royalty is uncapped and cannot be bought
      out or reduced. </TD></TR></TABLE>
<P align=justify>In addition, &#199;iftay must conduct a drilling program of at least
3,000 meters on the Property during each 12-month period commencing on August 5,
2016 until commencement of commercial production.</P>
<P align=justify>Pursuant to the agreement, &#199;iftay has guaranteed the future
payments of 2,500 ounces of gold, or cash equivalent. As at December 31, 2017,
the Company has recorded a receivable of $2,447,595 (including $167,718 of
accreted interest income) related to the guaranteed payments which was estimated
using a valuation model that requires significant judgments and assumptions,
including to future metal prices and discount rates. Included in the calculation
for the year ended December 31, 2017, the Company used a long term gold price of
US$1,332 per ounce and a discount rate of 6%.</P>
<P align=justify>The sale of AES resulted in a gain of $6,683,560, resulting
from proceeds of $6,737,452, less the net assets of AES of $53,892 which is
included in the gain on acquisition and sale of exploration and evaluation
assets for the year ended December 31, 2016. </P>
<P align=justify>Subsequent to December 31, 2017, EMX received a payment of
US$665,525 on February 5, 2018, as the cash equivalent to the third 500 ounce
gold bullion payment to be made under the terms of the agreement.</P>
<P align=justify><B>Sisorta Property </B></P>
<P align=justify>On April 2, 2012, the Company and Chesser Resources Ltd
(&#147;Chesser&#148;) executed an agreement to sell the Sisorta property to &#199;olakoglu
Ticari Yatrim A.S. (&#147;&#199;olakoglu&#148;) for a combination of option payments and
expenditure requirements. &#199;olakoglu terminated the option effective March 21,
2013, leaving Chesser and the Company with a 51% and 49% interest in the Sisorta
project, respectively. Until March 2015, the Company accounted for its 49%
interest as an Investment in Associated Company and had written down the value
of the investment to $Nil due to the pick-up of its share of net losses in the
associated company. On March 20, 2015, Chesser and the Company signed definitive
agreements pursuant to which the Company acquired all of Chesser&#146;s interest in
the Sisorta project for a total purchase price of $156,800 (AUD$162,092). As a
result of the purchase, the Company recorded a gain on acquisition of
$26,407, and $131,440 of the purchase price was allocated to exploration and
evaluation assets. </P>
<P align=center>Page 30 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>Turkey </U></B><U>(continued)</U><B> </B></P>
<P align=justify>Effective July 1, 2016, the Company entered into a share
purchase agreement for the sale of EBX Madencilik A.S. (&#147;EBX&#148;), a wholly-owned
subsidiary that controlled the Sisorta gold property in Turkey, to Bahar
Madencilik Sinayi ve Ticaret Ltd Sti ("Bahar"), a privately owned Turkish
company. </P>
<P align=justify>The agreement provides for Bahar's staged payments to EMX as
summarized below:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>US$250,000 cash payment ($332,969) to EMX upon closing of
      the sale (received). </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Annual cash payments of US$125,000 (received) beginning
      on July 1, 2017 until commencement of commercial production from the
      Property. </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>3.5% of production returns after certain deductions (&#147;NSR
      Payment") for ore mined from the Property that is processed on-site
      (increased to 5% if the ore is processed off-site). </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>The Advance Cash Payments will be credited at a rate of
      80% against the NSR Payment payable after commercial production commences.
      </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>The NSR Payment is uncapped and cannot be bought out or
      reduced. </P></TD></TR></TABLE>
<P align=justify>Pursuant to the sale of Sisorta, during the year ended December
31, 2016, the Company paid a finders fee of US$48,740 ($63,549) and recorded a
gain on the sale of EBX of $86,041 which is included in the gain (loss) on
acquisition and sale of exploration and evaluation assets. The future annual
cash payments are not accrued as there is no guarantee of payment, and the
shares of EBX could be returned if the payments are not made. </P>
<P align=justify><B><I>Balya Property </I></B></P>
<P align=justify>EMX holds an uncapped 4% NSR royalty that it retained from the
sale of the property to Dedeman Madencilik San ve Tic. A.S. ("Dedeman"), a
privately owned Turkish company, in 2006. The Balya royalty due to EMX from 2016
production totaled US$154,299, from which Dedeman's earlier advance royalty
payment of US$100,000 was credited, resulting in an adjusted payment to EMX of
US$54,299 . Including applicable taxes in Turkey, $40,217 (US$30,762) has been
included in royalty income. The AMR&#146;s and net royalty payments have been
included in Royalty income. </P>
<P align=justify><B>Golcuk Transfer and Royalty Agreement </B></P>
<P align=justify>On July 17, 2012, amended on January 29, 2013, and amended
again by a second amending agreement dated as of November 8, 2016, the Company
entered into an agreement with Pasinex Resources Limited (&#147;PRL&#148;) to transfer a
100% interest in the Golcuk property in exchange for PRL issuing shares to the
Company as follows, </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>500,000 PRL shares on the initial issuance date (received
      during the year ended December 31, 2013 and valued at $27,500 or $0.055
      per share); </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>An additional 500,000 PRL shares on or before the first
      anniversary of the initial issuance date (received during the year ended
      December 31, 2014 and valued at $25,000 or $0.05 per share); </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>An additional 1,000,000 PRL shares on or before the
      second anniversary of the initial issuance date (received in February 2015
      and valued at $115,000 or $0.115 per share); and, </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>An additional 1,000,000 PRL Shares on or before the third
      anniversary of the initial issuance date (received in February 2016 and
      valued at $55,000 or $0.055 per share). </P></TD></TR></TABLE>
<P align=justify>In addition to the transfer of shares, Pasinex will then pay
the Company a 2.9% NSR royalty from production. Pasinex may pay the first
minimum royalty payment by delivering 664,483 common shares in the capital of
PRL to the Royalty Holder on or before November 30, 2016 (received valued at $79,738).
Pasinex has the option of purchasing 0.9% of the royalty for US$1,000,000 prior
to the 6<sup>th</sup> anniversary of the effective date of the agreement. In
2017 EMX received 224,150 shares of Pasinex and US$49,204 in cash for the
advance royalty payment due in September, 2017.</P>
<P align=center>Page 31 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>Turkey </U></B><U>(continued)</U></P>
<P align=justify><B>Tumad Agreement - Trab-23 </B></P>
<P align=justify>The Trab-23 property is located in northeast Turkey. In
February 2013 Tumad Madencilik San.Ve TIC, A.S. (&#147;Tumad&#148;), executed an option
agreement (the &#147;Trab-23 Agreement&#148;) to acquire Trab-23 from the Company. The
Trab-23 Agreement provides an upfront transfer of the two licenses to Tumad,
in-ground spending requirements, a revenue stream of annual earn-in and
pre-production payments, and a revenue stream based upon production. The Trab-23
Agreement is contingent upon approval by Turkey&#146;s General Directorate of Mining
Affairs ("MIGEM") to combine the two licenses into a single exploitation
license. This license combination and transfer occurred on September 11, 2014
(the &#147;Transfer Date&#148;). Provided that Tumad has made the payments and performed
the work described in the Trab-23 Agreement, on or before September 11, 2017
Tumad may exercise its option to retain the property, and after such election,
shall pay annual minimum royalties of US$100,000 commencing upon the first
anniversary of such exercise. Upon production from the Trab-23 licenses, Tumad
will pay the Company a 3% NSR royalty from production. The annual minimum
royalties will be credited to 80% of the NSR royalty then payable.</P>
<P align=justify>Tumad's payment and drill requirements have not been met and
Tumad terminated the agreement in 2017, and is currently in the process of
returning the property to 100% EMX control.</P>
<P align=justify><B>Ferrite Agreement - Alankoy </B></P>
<P align=justify>On December 20, 2013, the Company signed an Exploration and
Option Agreement (the &#147;Alankoy Agreement&#148;) with Ferrite Resources Ltd.
(&#147;Ferrite&#148;), a privately-held Australian company, whereby Ferrite had the option
to acquire the Company&#146;s subsidiaries that hold the Alankoy project, with the
Company retaining a 3% NSR. To do so, Ferrite paid US$35,000 upon signing and
must expend at least US$200,000 on exploration activities each year for the
three years after June 3, 2014 (the Effective Date). In addition, Ferrite is
required to make annual deliveries of gold bullion to the Company as Advanced
Annual Royalties (AARs) on each anniversary of the Effective Date.</P>
<P align=justify>In October 2015, Ferrite informed the Company they would not
continue with the option agreement and paid to EMX US$25,000 ($33,205) related
to reimbursement of expenditures owed by Ferrite. </P>
<P align=justify><B>Alankoy Property </B><B>&#150;</B><B> Black Sea Copper &amp; Gold
Agreement </B></P>
<P align=justify>On November 23, 2015, the Company signed an Exploration and
Option Agreement with Black Sea Copper &amp; Gold Corp. (&#147;Black Sea&#148;), a
privately-held British Columbia corporation, for the Alankoy copper-gold
property in northwestern Turkey, whereby Black Sea has the option to acquire the
Company&#146;s subsidiaries that hold the Alankoy project, with the Company retaining
a 3% production royalty. To do so, Black Sea paid US$25,000 (received $35,408 in
January 2016) upon signing and must incur certain exploration expenditure
milestones.</P>
<P align=justify>In February 2017, the Company received notification that
0955767 B.C Ltd (Formerly Black Sea) was terminating the Alankoy agreement and
paid US$16,439 to EMX for reimbursement of costs. EMX has regained 100% control
of the project.</P>
<P align=justify><B>Aktutan Property </B></P>
<P align=justify>EMX has a royalty interest in the Aktutan polymetallic project
sold to Dedeman in 2007 for considerations that include a 4% uncapped NSR and
annual advance royalty payments. <B></B>During the year ended December 31, 2017,
EMX received two advanced royalty payments on its Aktutan property for $261,473
(US$200,000) from Dedeman.<B> </B></P>
<P align=center>Page 32 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B><U>Australia exploration licenses</U></B><B> </B></P>
<P align=justify>The Company&#146;s Australian properties are comprised of contiguous
exploration licenses along the Koonenberry gold belt in New South Wales,
Australia. The Australian properties are acquired either directly through
staking or through agreements with license holders. </P>
<P align=justify><B>Koonenberry Property </B></P>
<P align=justify>In February 2014, the Company signed an exploration and option
agreement with North Queensland Mining Pty Ltd. (&#147;NQM&#148;), a privately-held
Australian company, giving NQM the right to acquire the Company&#146;s Koonenberry
exploration licenses in New South Wales, Australia. NQM will bear responsibility
of satisfying all existing work commitments and honoring all underlying property
agreements during the term of the agreement. NQM has the option to earn a 100%
interest in the EMX subsidiary that holds the licenses, with EMX retaining a 3%
production royalty.</P>
<P align=justify>In 2017, Koonenberry Gold Pty Ltd. (&#147;KNB&#148;) completed the
earn-in requirements under the exploration and option Agreement between NQM and
the Company, and elected to acquire EMX&#146;s Koonenberry exploration licenses. KNB,
a private Australian company, is the successor in interest to NQM under the
agreement. The Company transferred its wholly-owned subsidiary, EMX Exploration
Pty Ltd, the holder of the Koonenberry licenses, to KNB. EMX retains a 3%
royalty on all future production from the Koonenberry licenses. As a result of
this transaction, all of EMX&#146;s interests in the Koonenberry gold project have
now been converted to royalties. As a result of the sale, the Company recorded a
loss of $87,987 being the capitalized costs of the Koonenberry property and
field equipment with a book value of $6,866 transferred to KNB at the time of
sale. </P>
<P align=justify><B><U>New Zealand exploration licenses</U></B><B> </B></P>
<P align=justify>In September 2014, and amended in December 2015 the Company
signed an option agreement with Land &amp; Mineral Limited (&#147;L&amp;M&#148;), a
privately-held Australian company, giving L&amp;M the right to acquire Hauraki
Gold Ltd. (&#147;Hauraki&#148;), the wholly-owned EMX subsidiary that controls the
Neavesville gold-silver property located in the Hauraki goldfield of New
Zealand&#146;s North Island. The purchase and sale agreement included an execution
payment of $100,000 ($50,000 received on signing in 2015, and $50,000 received
in May 2016, being the balance of the execution payment) and a series of
anniversary and milestone payments equal to a certain amount of troy ounces of
gold. Pursuant to the agreement, In September 2016, the Company received a
$129,562 payment equivalent to a required payment of 75 troy ounces of gold.
</P>
<P align=justify><B><U>Haiti exploration permits</U></B></P>
<P align=justify>Eurasian and joint venture partner Newmont Ventures Limited
(&#147;Newmont&#148;), a wholly owned subsidiary of Newmont Mining Corporation
(collectively, the &#147;JV&#148;), had the right to establish specific exploration areas
along the trend of Haiti&#146;s Massif du Nord mineral belt. Newmont was funding and
managing six joint venture Designated Projects (&#147;DP&#146;s&#148;) across the exploration
areas. The Company&#146;s work on the 100% controlled Grand Bois gold-copper project
is outside of the JV with Newmont. </P>
<P align=justify>On November 2, 2015, the Company terminated the EMX &#150;Newmont JV
that covered the six designated exploration areas and sold its interest in Haiti
to Newmont for a $5,277,542 (US$4,000,000) cash payment and a retained 0.5% NSR
royalty interest.<B> </B></P>
<P align=center>Page 33 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify><B>Exploration Expenditures </B></P>
<P align=justify>During the year ended December 31, 2017, the Company incurred
the following exploration expenditures by projects, which were expensed as
incurred: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center bgColor=#ffffff rowSpan=2 nowrap>
    <p style="text-indent: -15pt; margin-left: 15pt"><BR></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="5%" bgColor=#ffffff
      rowSpan=2 nowrap><B>Scandinavia</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" bgColor=#ffffff rowSpan=2 nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="20%" bgColor=#ffffff
      colSpan=10 nowrap><B>USA</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="5%" bgColor=#ffffff
      rowSpan=2 nowrap><B>Turkey</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" bgColor=#ffffff rowSpan=2 nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="15%" bgColor=#ffffff colSpan=7 nowrap><B>Asia
      Pacific</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="5%" bgColor=#ffffff
      rowSpan=2 nowrap><B>Other</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" bgColor=#ffffff rowSpan=2 nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="5%" bgColor=#ffffff
      rowSpan=2 nowrap><B>Total</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=center width="2%" bgColor=#ffffff
  rowSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap><STRONG>Kennecott<br>
    </STRONG>
      <B>Exploration</B>&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="1%" bgColor=#ffffff nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;<STRONG>Anglo<br>
    </STRONG> <B>American</B>
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="1%" bgColor=#ffffff nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;<STRONG>Other<br>
    USA</STRONG> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="5%" bgColor=#ffffff nowrap>&nbsp;<STRONG>Total</STRONG> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap><STRONG>New<br>
    Zealand</STRONG> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="1%" bgColor=#ffffff nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;<STRONG>Other</STRONG> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" bgColor=#ffffff nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="5%" bgColor=#ffffff nowrap><STRONG>Total</STRONG> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle align=center
    width="2%" bgColor=#ffffff nowrap>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Administration Cost </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>&nbsp;67,159 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;74 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;292 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;185,833 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>&nbsp;186,199 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>&nbsp;65,877 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;40,765 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;10,669 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>&nbsp;51,434 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>&nbsp;6,073 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>&nbsp;376,742 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Assays </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>24,972 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>7,727 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>6,031 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>13,758 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>940 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>39,670 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Drilling / Trenching </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>13,509 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>370 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>89,142 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>89,512 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>103,021 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Land and Legal </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>73,870 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>198,126 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>198,126 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>23,062 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>3,511 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>15,334 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>18,845 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>9,534 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>323,437 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Logistics </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>26,040 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>8,326 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>6,168 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>187,423 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>201,917 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>1,379 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>229,336 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Personnel </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>566,367 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>35,565 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>18,052 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>1,593,930 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>1,647,547 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>175,649 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>13,606 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>106,659 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>120,265 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>44,619 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>2,554,447 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Property Cost </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>347,792 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>363 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>39,396 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>901,022 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>940,781 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>27,130 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>3,965 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>25,238 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>29,203 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>1,344,906 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Professional Services </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>77,768 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>6,498 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>6,498 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>93,506 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>72,497 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>72,497 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>27,180 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>277,449 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Share Based Payments </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>111,887 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>476,569 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>476,569 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>52,362 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>5,318 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>28,456 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>33,774 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>64,993 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>739,585 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Technical Studies </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>17,921 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>10,370 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>2,554 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>12,924 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>34,506 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>34,506 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>31,873 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>97,224 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Travel </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>118,904 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>735 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>104,249 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>104,984 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>11,584 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>1,567 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>6,844 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>8,411 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>4,419 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>248,302 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total Expenditures </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>1,446,189 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>63,530 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>63,908 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>3,751,377 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>3,878,815 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>451,489 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>68,732 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>300,203 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>368,935 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>188,691 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>6,334,119 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Recoveries </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(239,088</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(69,812</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(167,690</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(166,028</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(403,530</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(21,338</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(26,434</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(31,578</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(58,012</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(721,968</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Operator fees </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>(7,451</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>(22,319</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>(29,770</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#ffffff>(29,770</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Option Payments &amp; <BR>Shares
      Received </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(750,000</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(64,901</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(110,333</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(175,234</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(122,326</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="5%" bgColor=#e6efff>(1,047,560</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Other Property Income </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>(2,090</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>(714</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>(55,594</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>(58,398</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>(5,349</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>(5,349</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>(63,747</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#ffffff>) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total Recoveries </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>(989,088</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(144,254</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(168,404</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(354,274</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>(666,932</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>(143,664</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(31,783</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(31,578</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>(63,361</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#e6efff>(1,863,045</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Net Expenditures </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>&nbsp;457,101 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>&nbsp;(80,724</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>&nbsp;(104,496</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>&nbsp;3,397,103 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>&nbsp;3,211,883 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>&nbsp;307,825 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>&nbsp;36,949 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#ffffff>&nbsp;268,625 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>&nbsp;305,574 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>&nbsp;188,691 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="5%" bgColor=#ffffff>&nbsp;4,471,074 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%"
bgColor=#ffffff>&nbsp;</TD></TR></TABLE>
<P align=justify>During the year ended December 31, 2017, The Company: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Received or accrued $239,088 in expenditures recovered
      from Boreal in Sweden; </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Received 3,000,000 common shares of Sienna valued at
      $750,000; </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Received a $65,368 (US$50,000) option payment related to
      an exploration and option to purchase agreement for the Copper King
      project with Kennecott; </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Received as part of the Copper Springs option agreement
      with Anglo American, US$ 82,000 ($106,436) as reimbursement of previously
      paid land holding costs; and </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Recorded an option payment from Pasinex pursuant to a
      property agreement on the Company&#146;s Golcuk property for the equivalent to
      75 ounces of gold in the form of $61,805 (US$49,204) cash and 224,150
      shares of Pasinex valued at $60,521. </P></TD></TR></TABLE>
<P align=center>Page 34 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_35></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify>During the year ended December 31, 2016, the Company incurred
the following exploration expenditures by projects, which were expensed as
incurred: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=left rowSpan=2 nowrap>
    <p style="text-indent: -15pt; margin-left: 15pt"><BR></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=left width="1%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" rowSpan=2 nowrap><B>Scandinavia</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="19%" colSpan=10 nowrap><B>USA</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="14%" colSpan=7 nowrap><B>Turkey</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="14%" colSpan=7 nowrap><B>Asia Pacific</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" rowSpan=2 nowrap><B>Other</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" rowSpan=2 nowrap><B>Total</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=center align=left width="2%" rowSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Kennecott<br>
    Exploration&nbsp;</STRONG>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;<STRONG>Desert<br>
    Star<br>
    Resources</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;<STRONG>Other<br>
    USA</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" nowrap><STRONG>Total</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Akarca</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Other</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" nowrap><STRONG>Total</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;<STRONG>New<br>
    Zealand</STRONG>
    </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Other</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" nowrap><STRONG>Total</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Administration Cost </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;37,498 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;109 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;25 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;157,106 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;157,240 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;27,055 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;92,397 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;119,452 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;2,220 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;9,520 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;11,740 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;24,650 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;350,580 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Assays </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">8,596 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">845 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">6,635 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">7,480 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">676 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">676 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">16,752 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Drilling / Trenching </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>76,687 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>314,972 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>91 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>315,063 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>44,283 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>14,679 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>58,962 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>450,712 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Land and Legal </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">48,632 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">182,160 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">182,160 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">39,603 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">160,831 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">200,434 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">23,778 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">23,778 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">40,384 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">495,388 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Logistics </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>14,535 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>57,164 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>1,822 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>70,590 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>129,576 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>13,810 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>5,708 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>19,518 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>9,155 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>9,155 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>5,282 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>178,066 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Personnel </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">195,223 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">118,679 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">12,676 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">1,420,907 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">1,552,262 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">297,586 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">264,527 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">562,113 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">99,751 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">99,751 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">171,881 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">2,581,230 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Property Cost </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>165,640 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>2,677 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>39,460 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>485,365 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>527,502 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>154,526 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>32,426 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>186,952 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>37,230 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>47,219 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>84,449 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>964,543 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Professional Services </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">135,527 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">13,664 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">13,664 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">61,577 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">22,029 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">83,606 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">496 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">1,772 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">2,268 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">17,625 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">252,690 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Share Based Payments </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>40,285 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>295,008 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>295,008 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>32,805 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>69,020 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>101,825 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>17,673 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>17,673 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>48,066 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>502,857 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Technical Studies </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">106,093 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">42,666 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">16,107 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">58,773 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">38,383 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">6,544 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">44,927 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">11,397 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">11,397 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">163,444 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">384,634 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Travel </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>63,571 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>103,478 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>103,478 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>16,310 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>31,479 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>47,789 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>6,861 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>6,861 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>16,382 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>238,081 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total Expenditures </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">892,287 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">537,112 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">53,983 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">2,751,111 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">3,342,206 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">726,614 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">699,640 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">1,426,254 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">39,946 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">227,126 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">267,072 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">487,714 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">6,415,533 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Recoveries </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(555,217</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(51,833</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(21,938</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(628,988</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(43,550</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(43,550</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(48,781</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(48,781</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(721,319</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Operator fees </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">(56,271</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">(1,263</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">(57,534</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">(57,534</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Option Payments * </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(24,720</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(125,890</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(150,610</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(170,146</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(170,146</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(180,476</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(180,476</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(501,232</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Other Property Income </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(9,720</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(265</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(39,755</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(49,740</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(56,466</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(56,466</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(27,243</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(27,243</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(2,040</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(135,489</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total Recoveries </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(645,928</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(53,361</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(187,583</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(886,872</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(43,550</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(226,612</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(270,162</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(207,719</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(48,781</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(256,500</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(2,040</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(1,415,574</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Net Expenditures </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;892,287 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;(108,816</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;622 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;2,563,528 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;2,455,334 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;683,064 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;473,028 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;1,156,092 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;(167,773</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;178,345 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;10,572 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;485,674 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;4,999,959 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%">&nbsp;</TD></TR></TABLE>
<P align=justify>*The Company received a $129,820 (US$100,000) annual option
payment related to an exploration and option to purchase agreement for the
Superior West project with Kennecott applied as to $105,100 to the Superior West
capitalized costs, and $24,720 to exploration recoveries. </P>
<P align=justify>Significant components of &#147;Other&#148; total exploration
expenditures for the year ended December 31, 2016 were Haiti - $148,455; Austria
- $48,767; and other general exploration costs in Europe totalling - $146,159.
</P>
<P align=center>Page 35 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_36></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>9. EXPLORATION AND EVALUATION ASSETS </B>(Continued)<B>
</B></P>
<P align=justify>During the year ended December 31, 2015, the Company incurred
the following exploration expenditures by projects, which were expensed as
incurred: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center rowSpan=2 nowrap>
    <p style="text-indent: -15pt; margin-left: 15pt"><BR></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" rowSpan=2 nowrap><B>Scandinavia</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="19%" colSpan=10 nowrap><B>USA</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="14%" colSpan=7 nowrap><B>Turkey</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="14%" colSpan=7 nowrap><B>Asia Pacific</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" rowSpan=2 nowrap><B>Other *</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" rowSpan=2 nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" rowSpan=2 nowrap><B>Total</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" rowSpan=2 nowrap>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Kennecott<br>
&nbsp;Exploration&nbsp;</STRONG>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Desert <br>
    Star</STRONG>
      <STRONG><br>
    Resources</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Other <br>
    USA</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" nowrap><STRONG>Total</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Akarca</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Other</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" nowrap><STRONG>Total</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>New <br>
    Zealand</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap><STRONG>Other</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD>
    <TD
    style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="1%" nowrap></TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="4%" nowrap><STRONG>Total</STRONG> </TD>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=middle align=center width="2%" nowrap>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Administration Cost </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;61,523 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;676 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;1,271 </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;127,873 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;129,820 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;16,296 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;43,532 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;59,828 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;4,767 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>&nbsp;2,932 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;7,699 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;44,763 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>&nbsp;303,633 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Assays </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">5,307 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">1,825 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">142 </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">22,472 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">24,439 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">5,509 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">5,509 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">1,480 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">36,735 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Drilling / Trenching </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>11,874 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>7,111 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>7,111 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>18,985 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Land and Legal </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">39,518 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">132,178 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">132,178 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">23,208 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">45,957 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">69,165 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">4,914 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">10,136 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">15,050 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">31,480 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">287,391 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Logistics </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>26,978 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>32,211 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>2,646 </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>98,391 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>133,248 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>12,014 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>40,408 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>52,422 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>499 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>4,475 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>4,974 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>48,472 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>266,094 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Personnel </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">423,697 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">154,004 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">24,500 </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">1,261,865 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">1,440,369 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">205,665 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">561,082 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">766,747 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">45,557 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">101,586 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">147,143 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">201,162 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">2,979,118 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Property Cost </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>60,369 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>87,771 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>75,530 </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>415,594 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>578,895 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>176,773 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>116,132 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>292,905 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>8,921 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>44,322 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>53,243 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>43,094 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>1,028,506 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Professional Services </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">86,874 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">13,813 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">13,813 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">42,381 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">117,062 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">159,443 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">28,938 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">10,410 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">39,348 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">161,232 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">460,710 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Share Based Payments </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>7,103 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>75,468 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>75,468 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>12,430 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>12,430 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(1,793</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(1,793</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(20,811</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>72,397 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Technical Studies </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">28,083 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">77,485 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">5,151 </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">68,265 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">150,901 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">17,183 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">17,183 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">3,508 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">25,407 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">28,915 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">112,739 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">337,821 </TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Travel </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>59,934 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>128 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>27,107 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>27,235 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>28,263 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>28,263 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>3,781 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>10,609 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>14,390 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>27,590 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>157,412 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total Expenditures </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">811,260 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">354,100 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">109,240 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">2,250,137 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">2,713,477 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">476,337 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">987,558 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">1,463,895 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">100,885 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">208,084 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">308,969 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">651,201 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">5,948,802 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Recoveries </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(426,190</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(118,065</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(93,549</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(637,804</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(295,024</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(33,305</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(328,329</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(96,675</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(1,062,808</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Operator fees </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">(44,067</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">(4,258</TD>
    <TD vAlign=bottom align=left width="1%">) </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">(9,457</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">(57,782</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%">(57,782</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Option Payments </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(31,955</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(127,820</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(159,775</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>(242,820</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(242,820</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="2%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="4%" bgColor=#e6efff>(402,595</TD>
    <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Other Property Income </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(13,102</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(32,922</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(46,024</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">(14,918</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(14,918</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">(60,942</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total Recoveries </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(515,314</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(122,323</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(263,748</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(901,385</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(295,024</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(276,125</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(571,149</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>(14,918</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(14,918</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(96,675</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%" bgColor=#e6efff>(1,584,127</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Net Expenditures </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;811,260 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;(161,214</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;(13,083</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;1,986,389 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;1,812,092 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;181,313 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;711,433 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;892,746 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;85,967 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="2%">&nbsp;208,084 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;294,051 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;554,526 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="4%">&nbsp;4,364,675 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom align=left width="2%">&nbsp;</TD></TR></TABLE>
<P align=justify>*Significant components of &#147;Other&#148; total exploration
expenditures for the year ended December 31, 2015 were Haiti - $359,827; Germany
- $107,899; Austria - $69,667; and Russia - $32,137. </P>
<P align=center>Page 36 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_37></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>10. ROYALTY INTEREST</B> </P>
<P align=justify>Changes in royalty interest for the years ended December 31,
2017, 2016, and 2015: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2014 </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="12%" bgColor=#e6efff>&nbsp;29,327,960 </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Adjusted for: </TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Depletion
    </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(1,716,848</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Impairment charge </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">(3,973,699</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Cumulative translation adjustments </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>5,161,567 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2015 </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">28,798,980 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Adjusted for: </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Acquisition </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">145,000 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Depletion
    </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(2,163,221</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Cumulative translation adjustments </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">(949,607</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2016
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>25,831,152 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Adjusted for: </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Depletion
    </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(2,282,276</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Cumulative translation adjustments </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">(1,605,133</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;21,943,743 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>During the year ended December 31, 2016, the Company acquired a
2% NSR royalty on all precious metals and a 1% NSR royalty on all other minerals
for the Maggie Creek property (non-producing) in Nevada, and a 1% NSR royalty on
all minerals for the Afgan property (non-producing) in Nevada from Golden
Predator US Holdings Corp, a wholly-owned subsidiary of Till Capital Ltd.
(&#147;TCL&#148;). In consideration of the acquisition, the Company issued 250,000 of its
common shares to TCL valued at $145,000.<B> </B></P>
<P align=justify><B>Carlin Trend Royalty Claim Block </B></P>
<P align=justify>The Company holds an interest in the Carlin Trend Royalty Claim
Block in Nevada which includes the following Royalty Properties: </P>
<P align=justify>Leeville Mine: Located in Eureka County, Nevada, the Company is
receiving a continuing 1% gross smelter return royalty (&#147;GSRR&#148;).</P>
<P align=justify>East Ore Body Mine: Located in Eureka County, Nevada, the
property is currently being mined and the Company is receiving a continuing 1%
GSRR.</P>
<P align=justify>North Pipeline: Located in Lander County, Nevada. Should the
property become producing, the Company will receive a production royalty of
US$0.50 per yard of ore processed or 4% of net profit, whichever is greater.</P>
<P align=justify>During the year ended December 31, 2017, $2,857,927 (2016 -
$2,227,322; 2015 - $1,609,553) in royalty income was included in operations
offset by a 5% direct gold tax and depletion.</P>
<P align=justify><B>Impairment of Non-Current Assets</B></P>
<P align=justify>The Company&#146;s policy for accounting for impairment of
non-current assets is to use the higher of the estimates of fair value less cost
of disposal of these assets or value in use. The Company uses valuation
techniques that require significant judgments and assumptions, including those
with respect to future production levels, future metal prices and discount
rates. </P>
<P align=justify>Non-current assets are tested for impairment when events or
changes in circumstances suggest that the carrying amount may not be
recoverable. The Company continuously reviews the production of gold from the
Carlin Trend Royalty Claim Block, expected long term gold prices to be realized, foreign
exchange, and interest rates. As a result, periodically the Company revises its
estimated annual gold production over the expected mine life and adjusts it&#146;s
long term gold price. As a result of these adjustments, the Company recorded
$Nil (2016 - $Nil, 2015 - $3,973,699) in impairment charges for the year ended
December 31, 2017 related to the Carlin Trend Royalty Claim Block.</P>
<P align=center>Page 37 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_38></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>

<P align=justify><B>11. RECLAMATION BONDS </B></P>
<P align=justify>Reclamation bonds are held as security towards future
exploration work and the related future potential cost of reclamation of the
Company&#146;s land and unproven mineral interests. Once reclamation of the
properties is complete, the bonds will be returned to the Company.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Australia - various
      properties </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="12%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="12%"
      bgColor=#e6efff>&nbsp;67,694 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Sweden - various properties </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">12,625 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">8,043 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Turkey - various properties
    </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>5,669 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>26,362 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">U.S.A - various properties </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">497,454 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">537,328 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;515,748 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;639,427 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify><B>12. GOODWILL </B></P>
<P align=justify>The Company&#146;s goodwill represents the excess of the purchase
price paid during fiscal 2012 for the acquisition of Bullion Monarch Mining Inc.
over the fair value of the net identifiable tangible and intangible assets and
liabilities acquired.<B> </B></P>
<P align=justify>Changes in goodwill for the year ended December 31, 2017, 2016,
and 2015: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2014 </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="12%" bgColor=#e6efff>&nbsp;8,217,542 </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Adjusted for: </TD>
    <TD vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;
      &nbsp;Impairment charge </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(3,047,605</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Cumulative translation adjustment </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">1,331,949 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2015
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>6,501,886 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Adjusted for: </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;
      &nbsp;Impairment charge </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(1,518,328</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Cumulative translation adjustment </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">(230,234</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2016
</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>4,753,324 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Adjusted for: </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="12%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;
      &nbsp;Impairment charge </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>(2,709,239</TD>
    <TD vAlign=bottom align=left width="2%"  bgColor=#e6efff>)
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Cumulative translation adjustment </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">(223,778</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance, December 31, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;1,820,307 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>The Company applies a one-step approach to determine if the
Carlin Trend Royalty Claim Block and the related assets within the same Cash
Generating Unit (&#147;CGU&#148;) are impaired (Note 10). The impairment loss is the
amount by which the CGU&#146;s carrying amount exceeds its recoverable amount. There
was no impairment for the royalty interest and goodwill has been written down in
conjunction with the decline of $2,709,239 (2016 - $1,518,328, 2015 -
$3,047,605) of the related deferred income tax liability. </P>
<P align=center>Page 38 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>13. ADVANCES FROM JOINT VENTURE PARTNERS </B></P>
<P align=justify>Advances from joint venture partners relate to unspent funds
received pursuant to approved exploration programs by the Company and its joint
venture partners. The Company&#146;s advances from joint venture partners consist of
the following: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    bgColor=#e6efff>U.S.A. </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" bgColor=#e6efff>&nbsp;808,905 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%" bgColor=#e6efff>&nbsp;341,361 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">&nbsp;808,905 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">&nbsp;341,361 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR></TABLE>
<P align=justify><B>14. CAPITAL STOCK </B></P>
<P align=justify><B>Authorized</B></P>
<P align=justify>As at December 31, 2017, the authorized share capital of the
Company was an unlimited number of common and preferred shares without par
value. </P>
<P align=justify><B>Common Shares</B></P>
<P align=justify>During the years ended December 31, 2017, 2016, and 2015, the
Company: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>Completed a non-brokered private placement raising
      $7,000,000 by the issuance of 5,000,000 units at a price of $1.40 per
      Unit. Each Unit was comprised of one common share and one-half of one
      non-transferable common share purchase warrant. Each whole warrant
      entitles the holder to purchase an additional common share for $2.00 until
      April 12, 2019. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="90%">
      <P align=justify></P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" ></TD>
    <TD align=left width="90%">
      <P align=justify>The Company incurred share issue costs totaling $438,018.
      Included in this amount was 246,604 Units (6% of the Units sold to
      investors introduced by finders) valued at $345,246 and $92,772 in cash.
      The units paid as finders fees included the same terms as the private
      placement Units. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="90%">
      <P align=justify></P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" ></TD>
    <TD align=left width="90%">
      <P align=justify>The gross proceeds of the private placement were
      allocated using a residual value method with respect to the measurement of
      shares and warrants issued as private placement units. This resulted in
      $6,200,000 recorded as share capital and $800,000 being allocated to
      reserves. For the finders fees paid in Units, $305,789 was allocated to
      capital and $39,457 was allocated to reserves . </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="90%">
      <P align=justify></P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>Issued 75,000 (2016 - 165,000; 2015 - Nil) shares valued
      at $85,700 (2016 - $127,800; 2015 - $Nil) pursuant to the exercise of
      stock options. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="90%">
      <P align=justify></P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>Issued 68,873 shares valued at $79,190 pursuant to
      employment and consulting agreements, of which the full amount has been
      included in exploration expenditures. Included in commitment to issue
      shares is $23,825 for accruals in exploration expenditures for shares
      approved to be issued pursuant to an employment and consulting agreement
      for shares issued in January 2018. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="90%">
      <P align=justify></P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>Issued 245,000 (2016 - 140,000; 2015 &#150; 163,000) shares
      valued at $279,300 (2016 - $166,600; 2015 &#150; $233,950) pursuant to an
      incentive stock grant program to employees of the Company. The shares
      issued for 2016 and 2015 were applied against commitment to issue as they
      related to prior period accruals. </P></TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="90%">
      <P align=justify></P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149; </TD>
    <TD align=left width="90%">
      <P align=justify>Issued Nil (2016 - 250,000; 2015 &#150; Nil) shares valued at
      $Nil (2016 - $145,000; 2015 - $Nil) pursuant to a purchase agreement for
      the Maggie Creek and Afgan royalties (Note 10). </P></TD></TR></TABLE>
<P align=center>Page 39 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>14. CAPITAL STOCK </B>(Continued)<B> </B></P>
<P align=justify><B>Stock Options </B></P>
<P align=justify>The Company adopted a stock option plan (the &#147;Plan&#148;) pursuant
to the policies of the TSX-V. The maximum number of shares that may be reserved
for issuance under the plan is limited to 10% of the issued common shares of the
Company at any time. The vesting terms are determined at the time of the grant,
subject to the terms of the plan.</P>
<P align=justify>During the years ended December 31, 2017, 2016, and 2015, the
change in stock options outstanding is as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="12%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="12%"><B>Weighted Average</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%"><B>Number</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%"><B>Exercise Price</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance as at December 31,
      2014 </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>5,493,200 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;2.03 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Granted </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">1,341,500 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">0.66 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Expired </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>(1,406,200</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>2.12 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance as at December 31, 2015 </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">5,428,500 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">1.67 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Granted </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>1,277,500 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>1.30 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Exercised </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">(165,000</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">0.77 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Expired </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>(1,729,500</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>2.66 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance as at December 31, 2016 </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">4,811,500 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">1.24 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Granted </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>1,472,500 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>1.20 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Exercised </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">(75,000</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">1.14 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Expired </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>(961,500</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>1.97 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance as at December 31, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">5,247,500 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">1.10 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="12%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Number of options exercisable as at December 31, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">5,235,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">&nbsp;1.10 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR></TABLE>
<P align=justify>The following table summarizes information about the stock
options which were outstanding and exercisable at December 31, 2017: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Date Granted</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Number of Options</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Exercisable</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Exercise Price $</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Expiry Date</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">April 25, 2014 </TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>1,290,500
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>1,290,500
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>1.20 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>April 25,
      2019 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">June 26, 2014 </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">17,500 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">17,500 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">0.88 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">June 26, 2019 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">December 22, 2014 </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>60,000 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>60,000 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>0.87 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>December 22,
      2019 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">June 8, 2015 </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">1,167,500 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">1,167,500 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">0.66 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">June 8, 2020 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">October 18, 2016 </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1,239,500 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1,239,500 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1.30 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>October 18, 2021
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">August 28, 2017* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">1,472,500 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">1,460,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">1.20 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">August 28, 2022 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD vAlign=bottom width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">5,247,500 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">5,235,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=justify>*25,000 Options granted for investor relations services vest
25% every 3 months from the date of grant. </P>
<P align=justify>The weighted average remaining useful life of stock options is
3.10 years (2016 &#150; 2.92 years; 2015 &#150; 3.56 years). </P>
<P align=justify><B>Restricted share units </B></P>
<P align=justify>In 2017, the Company introduced a long-term restricted share
unit plan (&#147;RSUs&#148;). The RSU&#146;s entitle employees, directors, or officers to
common shares of the Company upon vesting based on vesting terms determined by
the Company&#146;s Board of Directors at the time of grant.</P>
<P align=center>Page 40 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_41></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>14. CAPITAL STOCK </B>(Continued)<B> </B></P>
<P align=justify><B>Restricted share units </B>(continued)<B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>Expiry Date </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="13%">December 31, 2016 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="13%">Granted </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="13%">Vested </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="13%">Expired/Cancelled </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="13%">December 31, 2017 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>December 31, 2019 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="13%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="13%" bgColor=#e6efff>312,500 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="13%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="13%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="13%" bgColor=#e6efff>312,500 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>The total RSU share-based expense recognized in the
consolidated statements of comprehensive loss was $27,575 for the year ended
December 31, 2017. The RSU&#146;s had a a fair value of $1.01 per unit on grant
date.<B> </B></P>
<P align=justify><B>Share-based Payments </B></P>
<P align=justify>During the year ended December 31, 2017, the Company recorded
aggregate share-based payments of $1,415,639 (2016 - $970,796; 2015<B> </B>-
$542,513) as they relate to the fair value of stock options granted or vested
during the period, fair value of incentive stock grants, the fair value of RSU&#146;s
vested during the period, and the accrual for the fair value of stock granted.
Share-based payments for the years ended December 31, 2017, 2016, and 2015 are
allocated to expense accounts as follow: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>General and</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%"><B>Administrative</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%"><B>Exploration</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="10%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Year ended December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%"><B>Expenses</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%"><B>Expenditures</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Shares issued for services
</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;85,500 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;272,990
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;358,490
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Commitment to issue shares </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">23,825 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">23,825 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">RSU's vested </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>27,575 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>27,575 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Fair
      value of stock options granted </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">562,979 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">442,770 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">1,005,749 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;676,054 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;739,585 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;1,415,639 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>General and</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%"><B>Administrative</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%"><B>Exploration</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="10%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Year ended December 31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Expenses</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Expenditures</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Commitment to issue shares
</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;27,462 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;27,462 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Fair
      value of stock options granted </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">440,477 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">502,857 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">943,334 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;467,939 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;502,857 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;970,796 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>General and</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%"><B>Administrative</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%"><B>Exploration</B> </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="10%">&nbsp; </TD>
    <TD vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>Year ended December 31, 2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%"><B>Expenses</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%"><B>Expenditures</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Commitment to issue shares
</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;100,233
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;(34,144</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;66,089 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Fair
      value of stock options granted </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">369,883 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">106,541 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">476,424 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;100,233 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;(34,144</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;542,513 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>The weighted average fair value of the stock options granted
during the year ended December 31, 2017 was $0.70 per stock option (2016 -
$0.74; 2015 - $0.36) . The fair value of stock options granted was estimated
using the Black-Scholes option pricing model with weighted average assumptions
as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>Year ended</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>Year ended</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>Year ended</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>December 31, 2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Risk free interest rate </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1.53% </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>0.73% </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1.02% </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Expected life (years) </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">5 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">5 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">5 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Expected volatility </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>70.81% </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>69.80% </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>62.33% </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Dividend yield </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=center>Page 41 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_42></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>14. CAPITAL STOCK </B>(Continued)<B> </B></P>
<P align=justify><B>Warrants</B> </P>
<P align=justify>During the years ended December 31, 2017, 2016, and 2015, the
change in warrants outstanding is as follow: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="12%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="12%"><B>Weighted Average</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%"><B>Number</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="12%"><B>Exercise Price</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance as at December 31,
      2014 </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>9,175,533 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>&nbsp;4.56 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Expired </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">(9,175,533</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">4.56 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance as at December 31,
      2015 and 2016 </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;Issued </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">2,623,306 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">2.00 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Balance as at December 31, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>2,623,306 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;2.00 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>The following table summarizes information about the warrants
which were outstanding and exercisable at December 31, 2017: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Number of Warrants</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Exercise Price</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Expiry Date</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Private placement,
      April 12, 2017 </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>2,500,004
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;2.00 </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>April 12,
      2019 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Finders warrants, April 12, 2017 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">123,302 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">&nbsp;2.00 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">April 12, 2019 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>2,623,306 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify><B>15. INCOME TAXES </B></P>
<P align=justify><B>Deferred Income Tax Liability </B></P>
<P align=justify>The tax effects of temporary differences between amounts
recorded in the Company&#146;s accounts and the corresponding amounts as computed for
income tax purposes gives rise to deferred tax liabities as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2017 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2016 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2015 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Royalty interest </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;(4,159,013</TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;(8,090,497</TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;(9,053,435</TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Tax loss carryforwards </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">2,261,886 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">3,212,368 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">2,433,008 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Other </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>76,820 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>124,805 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>118,541 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;(1,820,307</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;(4,753,324</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;(6,501,886</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">) </TD></TR></TABLE>
<P align=justify>As at December 31, 2017, no deferred tax assets are recognized
on the following temporary differences as it is not probable that sufficient
future taxable profit will be available to realize such assets: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2017 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2016 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2015 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">Expiry Date Range </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Tax loss carry
      forwards </TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;42,094,000 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;39,318,000 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;37,728,000 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>2026-2037
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Exploration and evaluation assets </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">1,485,000 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">2,137,000 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">10,022,960 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">No expiry </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Other </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;10,425,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;11,371,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;8,385,770 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>No expiry </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify><B>Income Tax Expense </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2017 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2016 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2015 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Current tax expense
</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Deferred tax recovery </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">(2,489,902</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">(1,439,332</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">(3,431,230</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;(2,489,902</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;(1,439,332</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;(3,431,230</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR></TABLE>
<P align=center>Page 42 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_43></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>15. INCOME TAXES </B>(Continued)<B> </B></P>
<P align=justify>The provision for income taxes differs from the amount
calculated using the Canadian federal and provincial statutory income tax rates
of 27.00% (2016 &#150; 26%; 2015 &#150; 26.00%) as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2017 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2016 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%">December 31, 2015 </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Expected income tax
      (recovery) </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;(2,569,654</TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;(886,149</TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>) </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;(2,679,842</TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Effect of lower tax rates in foreign
      jurisdictions </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">(1,534,592</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">(474,971</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">(2,393,803</TD>
    <TD vAlign=bottom align=left width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Permanent differences </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1,007,427 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1,010,562 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>2,594,459 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Change in unrecognized deductible temporary
      differences and other </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">260,595 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">(1,428,442</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">(60,006</TD>
    <TD vAlign=bottom align=left width="2%">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Foreign exchange </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>346,322 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>339,668 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>(892,038</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;(2,489,902</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;(1,439,332</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;(3,431,230</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">) </TD></TR></TABLE>
<P align=justify>In September 2017, the British Columbia (BC) Government
proposed changes to the general corporate income tax rate to increase the rate
from 11% to 12% effective January 1, 2018 and onwards. This change in tax rate
was substantively enacted on October 26, 2017. The relevant deferred tax
balances have been remeasured to reflect the increase in the Company's combined
Federal and Provincial (BC) general corporate income tax rate from 26% to 27%.
</P>
<P align=justify>In December 2017, the United States Government proposed changes
to the Federal corporate income tax rate to reduce the rate from 35% to 21%
effective January 1, 2018 and onwards. This change in tax rate was substantively
enacted on December 22, 2017. The relevant deferred tax balances have been
remeasured to reflect the decrease in the Company's Federal income tax rate from
35% to 21% applicable to the Company's US subsidiaries. </P>
<P align=justify><B>16. RELATED PARTY TRANSACTIONS</B> </P>
<P align=justify>The aggregate value of transactions and outstanding balances
relating to key management personnel were as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>Share-based</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>For the year ended December 31, 2017</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Salary or Fees</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Management </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;733,244
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;361,865
</TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;1,095,109
    </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Outside directors * </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">149,882 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">226,614 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">376,496 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Seabord Services Corp. </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,240,726 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;588,479 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,829,205 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>Share-based</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>For the year ended December 31, 2016</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Salary or Fees</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Management </TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;803,033
</TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;215,933
</TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;1,018,966
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Outside directors * </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">151,228 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">167,534.00 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">318,762 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Seabord Services Corp. </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>357,600 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,311,861 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;383,467 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,695,328 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=right
    width="10%"><B>Share-based</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="10%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>For the year ended December 31, 2015</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Salary or Fees</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Payments</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap
    align=right width="10%"><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Management </TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;1,067,210
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;108,637
</TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"  bgColor=#e6efff>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>&nbsp;1,175,847
    </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Outside directors * </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">158,257 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">79,898 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">238,155 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Seabord Services Corp. </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>413,700 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>413,700 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,639,167 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;188,535 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,827,702 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=justify>* Directors fees include US$5,000 per month paid to the
Company&#146;s non-Executive Chairman, who does not receive the fees paid to the
other independent director&#146;s. </P>
<P align=center>Page 43 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_44></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>16. RELATED PARTY TRANSACTIONS </B>(Continued) </P>
<P align=justify>Seabord Services Corp. (&#147;Seabord&#148;) is a management services
company controlled by the Chairman of the Board of Directors of the Company.
Seabord provides a Chief Financial Officer, a Corporate Secretary, accounting
and administration staff, and office space to the Company. The Chief Financial
Officer and Corporate Secretary are employees of Seabord and are not paid
directly by the Company.</P>
<P align=justify>Included in the table above for the year ended December 31,
2015 is $247,660 in termination payments to a former officer of the Company. The
amount has been included in Other expenses for that year.</P>
<P align=justify>Included in accounts payable and accrued liabilities at
December 31, 2017 is $7,177 (2016 - $5,913) owed to key management personnel and
$23,568 (2016 - $17,559) to other related parties. By way of a common director,
included in Notes receivable (Note 7) are certain balances owing from a related
party.</P>
<P align=justify><B>17. SEGMENTED INFORMATION</B> </P>
<P align=justify>The Company operates within the resource industry. At December
31, 2017 and 2016, the Company had equipment and exploration and evaluation
assets located geographically as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>EXPLORATION AND EVALUATION ASSETS</B>
    </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Asia Pacific </TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="12%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="12%"
      bgColor=#e6efff>&nbsp;81,124 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Sweden </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">437,755 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">437,755 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Turkey </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>232,547 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>232,547 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">U.S.A </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">1,171,664 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">1,393,574 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;1,841,966 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;2,145,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>
    <p style="text-indent: -15pt; margin-left: 15pt"><B>PROPERTY AND EQUIPMENT</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Asia Pacific </TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="12%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="12%"
      bgColor=#e6efff>&nbsp;8,376 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Haiti </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">Sweden </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>26,159 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>3,110 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Turkey </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">- </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">1,091 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>
    <p style="text-indent: -15pt; margin-left: 15pt">U.S.A </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>424,119 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>459,127 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">&nbsp;450,278 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%">&nbsp;471,704 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR></TABLE>
<P align=justify>The Company&#146;s royalty interest, goodwill, deferred income tax
liability and royalty income and depletion are from a CGU located in the U.S.A,
except for a $200,000 royalty interest held in Serbia. </P>
<P align=justify><B>18. RISK AND CAPITAL MANAGEMENT: FINANCIAL INSTRUMENTS</B>
</P>
<P align=justify>The Company considers items included in shareholders&#146; equity as
capital. The Company&#146;s objective when managing capital is to safeguard the
Company&#146;s ability to continue as a going concern, so that it can continue to
provide returns for shareholders and benefits for other stakeholders. </P>
<P align=justify>As at December 31, 2017, the Company had working capital of
$6,535,893 (2016 - $6,002,318). The Company has continuing royalty income that
will vary depending on royalty ounces received, the price of gold, and foreign
exchange rates on US royalty payments. The Company manages the capital structure
and makes adjustments in light of changes in economic conditions and the risk
characteristics of the underlying assets. The Company estimates it will need
additional financing within the next 12 months to undertake it&#146;s current
business plan. In order to maintain or adjust the capital structure, the Company
may issue new shares through public and/or private placements, sell assets, or
return capital to shareholders. The Company is not subject to externally imposed
capital requirements.</P>
<P align=center>Page 44 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_45></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>18. RISK AND CAPITAL MANAGEMENT: FINANCIAL INSTRUMENTS
</B>(Continued) </P>
<P align=justify><B>Fair Value </B></P>
<P align=justify>The Company characterizes inputs used in determining fair value
using a hierarchy that prioritizes inputs depending on the degree to which they
are observable. The three levels of the fair value hierarchy are as follows:
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Level 1: inputs represent quoted prices in active markets
      for identical assets or liabilities. Active markets are those in which
      transactions occur in sufficient frequency and volume to provide pricing
      information on an ongoing basis. </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Level 2: inputs other than quoted prices that are
      observable, either directly or indirectly. Level 2 valuations are based on
      inputs, including quoted forward prices for commodities, market interest
      rates, and volatility factors, which can be observed or corroborated in
      the market place. </P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>Level 3: inputs that are less observable, unavoidable or
      where the observable data does not support the majority of the
      instruments&#146; fair value. </P></TD></TR></TABLE>
<P align=justify>As at December 31, 2017, there were no changes in the levels in
comparison to December 31, 2016. Financial instruments measured at fair value on
the statement of financial position are summarized in levels of the fair value
hierarchy as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left><B>Assets</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Level 1</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Level 2</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Level 3</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>Total</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>Cash and cash
      equivalents </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;3,533,611 </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%" bgColor=#e6efff>&nbsp;-
    </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;3,533,611 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>Restricted cash </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">771,434 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">771,434 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>Fair value through profit or
      loss investments </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1,139,447 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>- </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#e6efff>1,139,447 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>Strategic investments </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">2,199,199 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">- </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">2,199,199 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>Accounts receivable </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>3,376,411 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>3,376,411 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;7,643,691 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;3,376,411 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;11,020,102 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR></TABLE>
<P align=justify>The carrying value of receivables (excluding the receivable
related to the sale of certain Turkish subsidiaries in the year ended December
31, 2016), notes receivable, accounts payable and accrued liabilities, and
advances from joint venture partners approximate their fair value because of the
short-term nature of these instruments.</P>
<P align=justify>Accounts receivable, including both long and current portions
related to the sale of certain Turkish subsidiaries in the year ended December
31, 2016 were valued using a pricing model which require a variety of inputs,
such as expected gold prices and foreign exchange rates. Included in the
calculation for the year ended December 31, 2017, the Company used a long term
gold price of US$ 1,332 per ounce and a discount rate of 6%. These receivables
are valued using observable market commodity prices and thereby classified
within Level 2 of the fair value hierarchy.</P>
<P align=justify>The Company&#146;s financial instruments are exposed to certain
financial risks, including credit risk, interest rate risk, market risk,
liquidity risk and currency risk. </P>
<P align=justify><B>Credit Risk </B></P>
<P align=justify>The Company is exposed to credit risk by holding cash and cash
equivalents and receivables. This risk is minimized by holding a significant
portion of the funds in Canadian banks. The Company&#146;s exposure with respect to
its receivables is primarily related to royalty streams, recovery of exploration
evaluation costs, and the sale of AES (Note 9). </P>
<P align=justify><B>Interest Rate Risk </B></P>
<P align=justify>The Company is exposed to interest rate risk because of
fluctuating interest rates. Management believes the interest rate risk is low
given interest rates on promissory notes is fixed and the current low global
interest rate environment. Fluctuations in market rates is not expected to have
a significant impact on the Company&#146;s operations due to the short term to
maturity and no penalty cashable feature of its cash equivalents. </P>
<P align=center>Page 45 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>18. RISK AND CAPITAL MANAGEMENT: FINANCIAL INSTRUMENTS
</B>(Continued) </P>
<P align=justify><B>Market Risk </B></P>
<P align=justify>The Company is exposed to market risk because of the
fluctuating values of its publicly traded marketable securities and other
company investments. The Company has no control over these fluctuations and does
not hedge its investments. Based on the December 31, 2017<B> </B>portfolio
values, a 10% increase or decrease in effective market values would increase or
decrease net shareholders&#146; equity by approximately $334,000. </P>
<P align=justify><B>Liquidity Risk </B></P>
<P align=justify>Liquidity risk is the risk that the Company is unable to meet
its financial obligations as they come due. The Company manages this risk by
careful management of its working capital to ensure the Company&#146;s expenditures
will not exceed available resources. </P>
<P align=justify><B>Commodity Risk </B></P>
<P align=justify>The Company&#146;s royalty revenues are derived from a royalty
interest and are based on the extraction and sale of precious and base minerals
and metals. Factors beyond the control of the Company may affect the
marketability of metals discovered. Metal prices have historically fluctuated
widely. Consequently, the economic viability of the Company&#146;s royalty interests
cannot be accurately predicted and may be adversely affected by fluctuations in
mineral prices. </P>
<P align=justify><B>Currency Risk </B></P>
<P align=justify>Foreign exchange risk arises when future commercial
transactions and recognized assets and liabilities are denominated in a currency
that is not the entity&#146;s functional currency. The Company operates in Canada,
Turkey, Sweden, Australia and the U.S.A. The Company funds cash calls to its
subsidiary companies outside of Canada in US dollars and a portion of its
expenditures are also incurred in local currencies.</P>
<P align=justify>The exposure of the Company&#146;s cash and cash equivalents,
restricted cash, receivables, convertible notes receivable, and accounts payable
and accrued liabilities to foreign exchange risk as at December 31, 2017 is as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left><B>Accounts</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%" >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="12%"><B>US dollars</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>Cash and cash
      equivalents </TD>
    <TD vAlign=bottom noWrap align=left width="1%"
      bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="12%"
      bgColor=#e6efff>&nbsp;2,286,117 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
      bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>Restricted cash </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">615,636 </TD>
    <TD vAlign=bottom align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#e6efff>Receivables </TD>
    <TD vAlign=bottom align=left width="1%"
    bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%" bgColor=#e6efff>2,442,545 </TD>
    <TD vAlign=bottom align=left width="2%"
    bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>Accounts payable and accrued liabilities </TD>
    <TD vAlign=bottom align=left width="1%" >&nbsp;</TD>
    <TD vAlign=bottom align=right width="12%">(446,604</TD>
    <TD vAlign=bottom align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#e6efff>Advances from joint venture partners </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>(644,497</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left>Net
      exposure </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="12%">4,253,198 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>Canadian dollar equivalent </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%"  bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="12%" bgColor=#e6efff>&nbsp;5,338,027 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%"  bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>The balances noted above reflect the US dollar balances held
within the parent company and any wholly owned subsidiaries. Balances
denominated in another currency other than the functional currency held in
foreign operations are considered immaterial. </P>
<P align=justify>Based on the above net exposure as at December 31, 2017, and
assuming that all other variables remain constant, a 10% depreciation or
appreciation of the Canadian dollar against the US dollar would result in an
increase/decrease of approximately $534,000 in the Company&#146;s pre-tax profit or
loss. </P>
<P align=center>Page 46 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>19. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS
</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left>&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>December 31, 2017</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>December 31, 2016</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=right width="10%"><B>December 31, 2015</B> </TD>
    <TD style="BORDER-TOP: #000000 2px double; BORDER-BOTTOM: #000000 1px solid"
    vAlign=bottom noWrap align=left width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom noWrap align=left bgColor=#e6efff>Cash </TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;3,354,109 </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;3,132,480 </TD>
    <TD vAlign=bottom noWrap align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD vAlign=bottom noWrap align=left width="1%" bgColor=#e6efff>$</TD>
    <TD vAlign=bottom noWrap align=right width="10%"
      bgColor=#e6efff>&nbsp;5,365,271 </TD>
    <TD vAlign=bottom noWrap align=left width="2%"
bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>Short-term deposits </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">179,502 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">67,206 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">269,330 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#e6efff>Total </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;3,533,611 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;3,199,686 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#e6efff>&nbsp;5,634,601 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#e6efff>&nbsp;</TD></TR></TABLE>
<P align=justify>The significant non-cash investing and financing transactions
during the year ended December 31, 2017 included: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a. </TD>
    <TD>
      <P align=justify>Recorded a gain through accumulated other comprehensive
      income of $609,733 related to the fair value adjustments on AFS financial
      instruments;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">b. </TD>
    <TD>
      <P align=justify>Adjusted non-current assets and liabilities for
      $1,424,814 related to cumulative translation adjustments (&#147;CTA&#148;), of which
      $1,605,133 relates to CTA loss on royalty interest, $223,778 relates to
      CTA loss on goodwill, $443,115 relates to a CTA gain on deferred tax
      liability and $39,018 relates to CTA loss in the net assets of a
      subsidiary with a functional currency different from the presentation
      currency;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">c. </TD>
    <TD>
      <P align=justify>Reclass of reserves on exercise of options for
      $45,545;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">d. </TD>
    <TD>
      <P align=justify>Recorded the movement of $1,017,540 from a convertible
      loan to an investment in associated company upon conversion of the loan
      (Note 8); and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">e. </TD>
    <TD>
      <P align=justify>Recorded through reserves $39,457 related to the value of
      warrants issued as finders fees as part of a private placement (Note
      14).</P></TD></TR></TABLE>
<P align=justify>The significant non-cash investing and financing transactions
during the year ended December 31, 2016 included: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a. </TD>
    <TD>
      <P align=justify>Recorded a gain through accumulated other comprehensive
      income of $88,515 related to the fair value adjustments on AFS financial
      instruments;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">b. </TD>
    <TD>
      <P align=justify>Issuance of 140,000 incentive stock grants valued at
      $166,600 applied to commitment to issue shares;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">c. </TD>
    <TD>
      <P align=justify>Adjusted reserves and investment in associated companies
      for $366,800 related to share-based payments made by an associated
      company;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">d. </TD>
    <TD>
      <P align=justify>Adjusted non-current assets and liabilities for $862,335
      related to cumulative translation adjustments (&#147;CTA&#148;), of which $949,607
      relates to CTA loss on royalty interest, $230,234 relates to CTA loss on
      goodwill, $309,230 relates to a CTA gain on deferred tax liability and
      $8,276 relates to CTA gain in the net assets of a subsidiary with a
      functional currency different from the presentation currency;
and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">e. </TD>
    <TD>
      <P align=justify>Recorded the movement of $1,605,466 from a convertible
      loan to an investment in associated company upon conversion of the loan
      (Note 8).</P></TD></TR></TABLE>
<P align=justify>The significant non-cash investing and financing transactions
during the year ended December 31, 2015 included: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a. </TD>
    <TD>
      <P align=justify>Recorded a loss through accumulated other comprehensive
      income of $105,714 related to the fair value adjustments on
      available-for-sale (&#147;AFS&#148;) financial instruments;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">b. </TD>
    <TD>
      <P align=justify>Issuance of 163,000 bonus shares valued at $233,950
      applied to commitment to issue shares;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">c. </TD>
    <TD>
      <P align=justify>Adjusted reserves and investment in associated companies
      for $322,900 related to share-based payments made by an associated
      company; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">d. </TD>
    <TD>
      <P align=justify>Adjusted non-current assets and liabilities for
      $4,350,667 related to cumulative translation adjustments (&#147;CTA&#148;), of which
      $5,161,567, relates to CTA gain on royalty interest, $1,331,949 relates to
      CTA gain on goodwill, $1,715,574 relates to a CTA loss on deferred tax
      liability and $427,275 relates to a CTA loss in the net liabilities of a
      subsidiary with a functional currency different from the presentation
      currency.</P></TD></TR></TABLE>
<P align=center>Page 47 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>EMX ROYALTY CORPORATION (FORMERLY EURASIAN MINERALS
      INC.)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </TD></TR>
  <TR vAlign=top>
    <TD align=left>(Expressed in Canadian Dollars) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>For the Year Ended
      December 31, 2017 </TD></TR></TABLE>
<P align=justify><B>20. EVENTS SUBSEQUENT TO THE REPORTING DATE </B></P>
<P align=justify>Subsequent to the year ended December 31, 2017, the Company,
</P>
<P align=justify><B><U>Sweden</U></B><B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify>executed a definitive agreement for the sale of the
      Guldgruvan cobalt project to Boreal Energy Metals Corporation (&#147;BEMC&#148;),
      subsidiary of BMC in southern Norway. Pursuant to the agreement, BEMC will
      acquire 100% interest in the project according to the following terms (all
      dollar amounts in USD):</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>At closing, BEMC will issue to EMX that number of common
      shares of BEMC that represents a 5.9% equity ownership in BEMC. BEMC will
      have the continuing obligation to issue additional shares of BEMC to EMX
      to maintain its 5.9% interest, at no additional cost to EMX, until BEMC
      has raised $3,000,000 in equity. Thereafter, EMX will have the right to
      participate pro-rata in future financings at its own cost to maintain its
      5.9% interest in BEMC. </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>At closing, EMX will transfer its Guldgruvan exploration
      licenses to BEMC. </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>EMX will retain a 3% NSR royalty on the Project, of which
      1% may be purchased by BEMC on or before the fifth anniversary of the
      closing date in 0.5% increments for a total of $2,500,000 in cash and
      common shares of BEMC stock. </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&#149;&nbsp;&nbsp;</TD>
    <TD align=left width="90%">
      <P align=justify>EMX will receive AAR payments, with an initial $20,000
      payment, commencing on the second anniversary of the closing, with each
      subsequent AAR payment increasing by $5,000 per year until reaching
      $60,000 per year. Once reaching $60,000, AAR payments will be adjusted
      each year according to the Consumer Price Index (as published by the U.S.
      Department of Labor, Bureau of Labor Statistics).
</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify>amended the sale agreement with BMC (Note 9) to include
      the Modum project in Norway in exchange for an additional 1,324,181 common
      shares of BMC. EMX now holds 10,530,063 common shares of BMC representing
      19.9% of the outstanding common shares.</P></TD></TR></TABLE>
<P align=justify><B><U>Buckhorn Creek Property</U></B><B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">c) </TD>
    <TD>
      <P align=justify>executed an Option Agreement with Kennecott whereby
      Kennecott can earn a 100% interest in the project by: a) making annual
      option payments totaling US$550,000, and b) completing US$4,500,000 in
      exploration expenditures before the fifth anniversary of the agreement.
      Upon exercise of the option, EMX will retain a 2% NSR royalty on the
      project which is not capped or purchasable. After exercise of the option,
      annual advance minimum payments and milestone payments will be due to
      EMX.</P></TD></TR></TABLE>
<P align=justify><B><U>Turkey</U></B><B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">d) </TD>
    <TD>
      <P align=justify>received a payment of US$665,525 on February 5, 2018, as
      the cash equivalent to the third 500 ounce gold bullion payment to be made
      under the terms of the agreement (Note 10).</P></TD></TR></TABLE>
<P align=center>Page 48 </P>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>2
<FILENAME>exhibit12-1.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 12.1 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B>CERTIFICATION </B></P>
<P align=justify>I, David M. Cole, certify that: </P>
<P align=justify>1. I have reviewed this annual report on Form 20-F of EMX
Royalty Corporation (formerly Eurasian Minerals Inc.) (the "Company"); </P>
<P align=justify>2. Based on my knowledge, this report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
report; </P>
<P align=justify>3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
company as of, and for, the periods presented in this report; </P>
<P align=justify>4. The Company's other certifying officer(s) and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules 13a-15(f) and
15d-15(f)) tor the company and have: </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and
procedures, or caused such disclosure controls and procedures to be designed
under our supervision, to ensure that material information relating to the
company, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is
being prepared; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the company's
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the
company's internal control over financial reporting that occurred during the
period covered by the annual report that has materially affected, or is
reasonably likely to materially affect, the company's internal control over
financial reporting; and </P>
<P align=justify>5. The Company's other certifying officer(s) and I have
disclosed, based on our most recent evaluation of internal control over
financial reporting, to the company's auditors and the audit committee of the
company's board of directors (or persons performing the equivalent functions):
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material
weaknesses in the design or operation of internal control over financial
reporting which are reasonably likely to adversely affect the company's ability
to record, process, summarize and report financial information; and </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that
involves management or other employees who have a significant role in the
company's internal control over financial reporting. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Date: April 3, 2018 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      David M. Cole </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">David M. Cole </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">President and Chief Executive Officer
  </TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>3
<FILENAME>exhibit12-2.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 12.2 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B>CERTIFICATION </B></P>
<P align=justify>I, Christina Cepeliauskas, certify that: </P>
<P align=justify>1. I have reviewed this annual report on Form 20-F of EMX
Royalty Corporation (formerly Eurasian Minerals Inc.) (the "Company"); </P>
<P align=justify>2. Based on my knowledge, this report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
report; </P>
<P align=justify>3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
company as of, and for, the periods presented in this report; </P>
<P align=justify>4. The Company's other certifying officer(s) and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules 13a-15(f) and
15d-15(f)) tor the Company and have: </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and
procedures, or caused such disclosure controls and procedures to be designed
under our supervision, to ensure that material information relating to the
Company, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is
being prepared; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Company's
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the
Company's internal control over financial reporting that occurred during the
period covered by the annual report that has materially affected, or is
reasonably likely to materially affect, the Company's internal control over
financial reporting; and </P>
<P align=justify>5. The Company's other certifying officer(s) and I have
disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Company's auditors and the audit committee of the
Company's board of directors (or persons performing the equivalent functions):
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material
weaknesses in the design or operation of internal control over financial
reporting which are reasonably likely to adversely affect the Company's ability
to record, process, summarize and report financial information; and </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that
involves management or other employees who have a significant role in the
Company's internal control over financial reporting. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Date: April 3, 2018 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      Christina Cepeliauskas </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Christina Cepeliauskas </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Chief Financial Officer
</TD></TR></TABLE><BR>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>4
<FILENAME>exhibit13-1.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 13.1 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B>CERTIFICATION </B></P>
<P align=center>PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
<BR>(SUBSECTIONS (a) AND (b) OF SECTION 1350, CHAPTER 63 OF <BR>TITLE 18, UNITED
STATES CODE) <BR></P>
<P align=justify>&nbsp;</P>
<P align=justify>In connection with the annual report of EMX Royalty
Corporation, formerly Eurasian Minerals Inc. (the "Company") on Form 20-F for
the fiscal year ending December 31, 2017 (the &#147;Report&#148;) I, David M. Cole, Chief
Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350,
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to
the best of my knowledge: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>the Report fully complies with the requirements of
      section 13(a) or 15(d) of the Securities Exchange Act of 1934;
  and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>the information contained in the Report fairly presents,
      in all material respects, the financial condition and results of operation
      of the Company.</P></TD></TR></TABLE>
<P><BR>&nbsp;</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Date: April 3, 2018 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      David M. Cole </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">David M. Cole </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">President and Chief Executive Officer
  </TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>5
<FILENAME>exhibit13-2.htm
<DESCRIPTION>EXHIBIT 13.2
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 13.2 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B>CERTIFICATION </B></P>
<P align=center>PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
<BR>(SUBSECTIONS (a) AND (b) OF SECTION 1350, CHAPTER 63 OF <BR>TITLE 18, UNITED
STATES CODE) <BR></P>
<P align=justify>&nbsp;</P>
<P align=justify>In connection with the annual report of EMX Royalty
Corporation, formerly Eurasian Minerals Inc. (the "Company") on Form 20-F for
the fiscal year ending December 31, 2017 (the &#147;Report&#148;) I, Christina
Cepeliauskas, Chief Financial Officer of the Company, certify, pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that to the best of my knowledge: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>the Report fully complies with the requirements of
      section 13(a) or 15(d) of the Securities Exchange Act of 1934;
  and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>the information contained in the Report fairly presents,
      in all material respects, the financial condition and results of operation
      of the Company.</P></TD></TR></TABLE>
<P><BR>&nbsp;</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Date: April 3, 2018 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      Christina Cepeliauskas </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Christina Cepeliauskas </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Chief Financial Officer
</TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>6
<FILENAME>exhibit15-1.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 15.1 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B>CONSENT OF ERIC P. JENSEN </B></P>
<P align=justify><STRONG></STRONG>&nbsp;</P>
<P align=justify>In connection with the filing of the annual report on Form 20-F
for the year ended December 31, 2017 (the &#147;Annual Report&#148;) of EMX Royalty
Corporation (formerly Eurasian Minerals Inc.) with the U.S. Securities and
Exchange Commission, I hereby consent to the references to my name in the Annual
Report. </P>
<P align=justify>Dated: April 3, 2018 </P>
<P align=justify>&nbsp;</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>/s/ Eric P.
      Jensen</I> </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Eric P. Jensen </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.2
<SEQUENCE>7
<FILENAME>exhibit15-2.htm
<DESCRIPTION>EXHIBIT 15.2
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 15.2 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
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<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B>CONSENT OF DEAN D. TURNER </B></P>
<P align=justify><STRONG></STRONG>&nbsp;</P>
<P align=justify>In connection with the filing of the annual report on Form 20-F
for the year ended December 31, 2017 (the &#147;Annual Report&#148;) of EMX Royalty
Corporation (formerly Eurasian Minerals Inc.) with the U.S. Securities and
Exchange Commission, I hereby consent to the references to my name in the Annual
Report. </P>
<P align=justify>Dated: April 3, 2018 </P>
<P align=justify>&nbsp;</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>/s/ Dean D.
      Turner</I> </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Dean D. Turner </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.3
<SEQUENCE>8
<FILENAME>exhibit15-3.htm
<DESCRIPTION>EXHIBIT 15.3
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 15.3 - Filed by newsfilecorp.com</TITLE>
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<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B>CONSENT OF PHIL NEWALL </B></P>
<P align=justify><STRONG></STRONG>&nbsp;</P>
<P align=justify>In connection with the filing of the annual report on Form 20-F
(the &#147;Annual Report&#148;) of EMX Royalty Corporation (formerly Eurasian Minerals
Inc.) with the U.S. Securities and Exchange Commission, I hereby consent to the
references to my name and to the use of the technical report entitled &#147;Technical
Report on the Initial Mineral Resource Estimate for the Malmyzh Copper-Gold
Project, Khabarovsk Krai, Russian Federation,&#148; dated July 10, 2015, and the
information derived from such report, included in the Annual Information Form of
the Company for the year ended December 31, 2017, which is filed as an exhibit
to, and incorporated by reference into, the Annual Report. </P>
<P align=justify>&nbsp;</P>
<P align=justify>Dated: April 3, 2018 </P>
<P align=justify>&nbsp;</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>/s/ Phil
      Newall</I> </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Phil Newall </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.4
<SEQUENCE>9
<FILENAME>exhibit15-4.htm
<DESCRIPTION>EXHIBIT 15.4
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 15.4 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
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<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=justify><B><U>Exhibit 15.4</U></B><B> </B></P>
<P align=center><IMG src="emxlogo.jpg" border=0 width="270" height="60"> </P>
<P align=center><B>CHARTER</B><BR><B>FOR</B><BR><B>THE AUDIT
COMMITTEE</B><BR><B>OF</B><BR><B>THE BOARD OF DIRECTORS </B><BR></P>
<P align=justify><B>I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MANDATE</B></P>
<P align=justify>The Audit Committee (the &#147;<B>Committee</B>&#148;) of the Board of
Directors (the &#147;<B>Board</B>&#148;) of EMX Royalty Corporation (the &#147;<B>Company</B>&#148;)
shall assist the Board in fulfilling its financial oversight responsibilities by
overseeing the accounting and financial reporting processes of the Company and
the audits of the financial statements of the Company. The Committee&#146;s primary
duties and responsibilities under this mandate are to serve as an independent
and objective party to monitor:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The quality and integrity of the Company&#146;s financial
      statements and other financial information;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The compliance of such statements and information with
      legal and regulatory requirements;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>The qualifications and independence of the Company&#146;s
      independent external auditor (the &#147;<B>Auditor&#148;</B>); and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>The performance of the Company&#146;s internal accounting
      procedures and Auditor.</P></TD></TR></TABLE>
<P align=justify><B>II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;STRUCTURE AND
OPERATIONS</B><B> </B></P>
<P align=justify>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Composition</U>
</P>
<P align=justify>The Committee shall be comprised of at least three members,
each of whom is a director of the Company who meets the independence, financial
literacy and other requirements set out below. </P>
<P align=justify>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<U>Qualifications</U> </P>
<P align=justify>Each member of the Committee must meet the independence
requirements of all applicable Canadian and United States securities laws and
stock exchange rules (collectively, the &#147;<B>AC Rules</B>&#148;) unless an exemption
is available.</P>
<P align=justify>No member of the Committee may, other than in his or her
capacity as a member of the Committee, the Board, or any other committee of the
Board, accept directly or indirectly any consulting, advisory, or other
&#147;compensatory fee&#148; (as such term is defined under applicable AC Rules) from, or
be an &#147;affiliated person&#148;<SUP>2</SUP> (as such term is defined under applicable
AC Rules) of, the Company or any subsidiary of the Company unless an exemption
or exception under applicable AC Rules is available. </P>
<P align=justify>A member of the Committee must not have participated in the
preparation of the financial statements of the Company or any current subsidiary
of the Company at any time during the past three years unless an exemption or
exception under applicable AC Rules is available.</P>
<P align=justify><SUP>_______________________________________<BR>2</SUP> </P>
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<P align=justify>Each member of the Committee must be able to read and
understand fundamental financial statements, including the Company&#146;s balance
sheet, income statement, and cash flow statement.</P>
<P align=justify>At least one member of the Committee must be &#147;financially
sophisticated&#148; in that he or she has past employment experience in finance or
accounting, requisite professional certification in accounting, or any other
comparable experience or background which results in the individual&#146;s financial
sophistication, including but not limited to being or having been a chief
executive officer, chief financial officer, other senior officer with financial
oversight responsibilities. An &#147;audit committee financial expert&#148; (as such term
is defined under Item 407(d)(5)(ii) and (ii) of Regulation S-K) is presumed to
qualify as financially sophisticated. </P>
<P align=justify>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Appointment and
Removal</U></P>
<P align=justify>In accordance with the Company&#146;s Articles, the members of the
Committee shall be appointed by the Board and shall serve until such member&#146;s
successor is duly elected and qualified or until such member&#146;s earlier
resignation or removal. Any member of the Committee may be removed, with or
without cause, by a majority vote of the Board. </P>
<P align=justify>D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Chair</U></P>
<P align=justify>Unless the Board shall appoint a Chair, the members of the
Committee shall designate a Chair by the majority vote of all of the members of
the Committee. The Chair shall call, set the agendas for, and chair all meetings
of, the Committee. </P>
<P
align=justify>E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sub-Committees</U></P>
<P align=justify>The Committee may form and delegate authority to subcommittees
consisting of one or more members when appropriate, including the authority to
grant pre-approvals of audit and permitted non-audit services, provided that a
decision of such subcommittee to grant a pre-approval shall be presented to the
full Committee at its next scheduled meeting. </P>
<P align=justify>F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Meetings</U>
</P>
<P align=justify>The Committee shall meet as often as is necessary to fulfil its
duties respecting the Company&#146;s quarterly and annual financial statements but
not less than on a quarterly basis as provided in this Charter. The Committee
should meet with the Auditor and management annually to review the Company&#146;s
financial statements in a manner consistent with, and to discharge its duties
under, Section III of this Charter. </P>
<P align=justify>The Auditor shall be given reasonable notice of, and be
entitled to attend and speak at, each meeting of the Committee concerning the
Company&#146;s annual financial statements and, if the Committee feels it is
necessary or appropriate, at every other meeting. On request by the Auditor, the
Chair shall call a meeting of the Committee to consider any matter that the
Auditor believes should be brought to the attention of the Committee, the Board
or the shareholders of the Company.</P>
<P align=justify>At each meeting, a quorum shall consist of a majority of the
members comprising the Committee.</P>
<P align=justify>As part of its goal to foster open communication, the Committee
may periodically meet separately with each of management and the Auditor to
discuss any matters that the Committee believes would be appropriate to discuss
privately.</P>
<P align=justify>The Committee may invite to its meetings any director, any
manager of the Company, and any other person whom it deems appropriate to
consult in order to carry out its responsibilities. The Committee may also
exclude from its meetings any person it deems appropriate to exclude in order to
carry out its responsibilities. </P>
<P align=justify><B>III.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;DUTIES </B></P>
<P
align=justify>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Introduction</U>
</P>
<P align=justify>The following functions shall be the common recurring duties of
the Committee in carrying out its purposes outlined in Section I of this
Charter. These duties should serve as a guide with the understanding that the
Committee may fulfill additional duties and adopt additional policies and procedures
as may be appropriate in light of changing business, legislative, regulatory or
other conditions. The Committee shall also carry out any other responsibilities
and duties delegated to it by the Board from time to time related to the
purposes of the Committee outlined in Section I of this Charter. </P>
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<P align=justify>The Committee, in discharging its oversight role, is empowered
to study or investigate any matter of interest or concern which the Committee in
its sole discretion deems appropriate for study or investigation by the
Committee.</P>
<P align=justify>The Committee shall be given full access to the Company&#146;s
internal accounting staff, managers, other staff and Auditor as necessary to
carry out these duties. While acting within the scope of its stated purpose, the
Committee shall have all the authority of, but shall remain subject to, the
Board. Notwithstanding the foregoing, the Committee is directly responsible for
the appointment, compensation, retention and oversight of the work of the
Auditor and any other registered public accounting firm engaged for the purpose
of preparing or issuing an audit or performing other audit, review or attest
services for the Company. </P>
<P align=justify>The Company must provide appropriate funding, as determined by
the Committee, for payment of (i) compensation to any registered public
accounting firm engaged for the purpose of preparing or issuing an audit report
or performing other audit, review or attest services for the Company, (ii)
compensation to any independent counsel or other advisors employed by the
Committee, and (iii) ordinary administrative expenses of the Committee that are
necessary or appropriate in carrying out the Committee&#146;s duties. </P>
<P
align=justify><STRONG><EM>B.&nbsp;</EM></STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG><EM>Powers
and Responsibilities </EM></STRONG></P>
<P align=justify>The Committee will have the following responsibilities and, in
order to perform and discharge these responsibilities, will be vested with the
powers and authorities set forth below, namely, the Committee shall: </P>
<P align=justify><I>Independence of Auditor</I> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1) .</TD>
    <TD>
      <P align=justify>Actively engage in a dialogue with the Auditor with
      respect to any disclosed relationships or services that may impact the
      objectivity and independence of the Auditor and, obtain a formal written
      statement from the Auditor setting forth all relationships between the
      Auditor and the Company.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2) .</TD>
    <TD>
      <P align=justify>Take, or recommend that the Board take, appropriate
      action to oversee the independence of the Auditor.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD></TD></TR>
  <TR>
    <TD vAlign=top width="5%">3) .</TD>
    <TD>
      <P align=justify>. Require the Auditor and any other registered public
      accounting firm engaged for the purpose of preparing or issuing an audit
      report or performing other audit, review or attest services for the
      Company to report directly to the Committee.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">4) .</TD>
    <TD>
      <P align=justify>Review and approve the Company&#146;s hiring policies
      regarding partners, employees and former partners and employees of the
      Auditor and former independent external auditor of the
  Company.</P></TD></TR></TABLE>
<P align=justify><I>Performance &amp; Completion by Auditor of its Work</I> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">5) .</TD>
    <TD>
      <P align=justify>Be directly responsible for the appointment,
      compensation, retention and oversight of the work of the Auditor and any
      other registered public accounting firm engaged (including resolution of
      disagreements between management and the Auditor or such public accounting
      firm regarding financial reporting) for the purpose of preparing or
      issuing an audit report or performing other audit, review or attest
      services for the Company.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">6) .</TD>
    <TD>
      <P align=justify>Review annually the performance of the Auditor, and
      either appoint a new Auditor or recommend to shareholders that the
      existing Auditor be re-elected.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">7) .</TD>
    <TD>
      <P align=justify>Pre-approve all auditing services and permitted non-audit
      services (including the fees and terms thereof) to be performed for the
      Company by the Auditor; provided, however, that pre-approval of services
      other than audit, review or attest services is not required if such
      services:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>constitute, in the aggregate, no more than 5% of the
      total amount of revenues paid by the Company to the Auditor during the
      fiscal year in which the services are
provided;</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_4></A><BR>
<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>were not recognized by the Company at the time of the
      engagement to be non-audit services; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>are promptly brought to the attention of the Committee
      and approved prior to the completion of the audit by the Committee or by
      one or more members of the Committee to whom authority to grant such
      approvals has been delegated by the Committee.</P></TD></TR></TABLE>
<P align=justify><I>Preparation of Financial Statements</I> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">8) .</TD>
    <TD>
      <P align=justify>Discuss with management and the Auditor significant
      financial reporting issues and judgments made in connection with the
      preparation of the Company&#146;s financial statements, including any
      significant changes in the Company&#146;s selection or application of
      accounting principles, any major issues as to the adequacy of the
      Company&#146;s internal controls and any special steps adopted in light of
      material control deficiencies.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">9) .</TD>
    <TD>
      <P align=justify>Discuss with management and the Auditor any
      correspondence with regulators or governmental agencies and any employee
      complaints or published reports which raise material issues regarding the
      Company&#146;s financial statements or accounting policies.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">10) .</TD>
    <TD>
      <P align=justify>Discuss with management and the Auditor the effect of
      regulatory and accounting initiatives as well as off-balance sheet
      structures on the Company&#146;s financial statements.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">11) .</TD>
    <TD>
      <P align=justify>Discuss with management the Company&#146;s major financial
      risk exposures and the steps management has taken to monitor and control
      such exposures, including the Company&#146;s risk assessment and risk
      management policies.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">12) .</TD>
    <TD>
      <P align=justify>Discuss with the Auditor the matters required to be
      discussed relating to the conduct of any audit, in
  particular:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify>The adoption of, or changes to, the Company&#146;s significant
      auditing and accounting principles and practices as suggested by the
      Auditor or management.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify>Any difficulties encountered in the course of the audit
      work, including any restrictions on the scope of activities or access to
      requested information, and any significant disagreements with
      management.</P></TD></TR></TABLE>
<P align=justify><I>Public Disclosure by the Company</I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">13) .</TD>
    <TD>
      <P align=justify>Review the Company&#146;s annual and quarterly financial
      statements, management discussion and analysis (MD&amp;A) and press
      releases respecting earnings before the Board approves and the Company
      publicly discloses this information.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">14) .</TD>
    <TD>
      <P align=justify>Review the Company&#146;s financial reporting procedures and
      internal controls to be satisfied that adequate procedures are in place
      for the review of the Company&#146;s public disclosure of financial information
      extracted or derived from its financial statements, other than disclosure
      described in the previous paragraph, and periodically assessing the
      adequacy of those procedures.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">15) .</TD>
    <TD>
      <P align=justify>Review any disclosures made to the Committee by the
      Company&#146;s Chief Executive Officer and Chief Financial Officer during their
      certification process of the Company&#146;s financial statements and public
      disclosure about any significant deficiencies in the design or operation
      of internal controls or material weaknesses therein and any fraud
      involving management or other employees who have a significant role in the
      Company&#146;s internal controls.</P></TD></TR></TABLE>
<P align=justify><I>Related Party Transactions </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">16) .</TD>
    <TD>
      <P align=justify>Review and approve related party transactions if required
      under applicable AC Rules.</P></TD></TR></TABLE>
<P align=justify><I>Manner of Carrying Out its Mandate </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">17) .</TD>
    <TD>
      <P align=justify>Consult, to the extent it deems necessary or appropriate,
      with the Auditor but without the presence of management, about the quality
      of the Company&#146;s accounting principles, internal controls and the
      completeness and accuracy of the Company&#146;s financial statements.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">18) .</TD>
    <TD>
      <P align=justify>Request any officer or employee of the Company or the
      Company&#146;s outside counsel or Auditor to attend a meeting of the Committee
      or to meet with any members of, or consultants to, the
  Committee.</P></TD></TR></TABLE><BR>
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<TABLE
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  <TR>
    <TD vAlign=top width="5%">19) .</TD>
    <TD>
      <P align=justify>Have the authority, if it deems it necessary or
      appropriate, to engage independent legal counsel, and accounting or other
      advisers to advise the Committee.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">20) .</TD>
    <TD>
      <P align=justify>Meet separately, if it deems it necessary or appropriate,
      with management and the Auditor.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">21) .</TD>
    <TD>
      <P align=justify>Make periodic reports to the Board as is necessary or
      required.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">22) .</TD>
    <TD>
      <P align=justify>Review and reassess the adequacy of this Charter annually
      and recommend any proposed changes to the Board for approval.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">23) .</TD>
    <TD>
      <P align=justify>Annually review the Committee&#146;s own
performance.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">24) .</TD>
    <TD>
      <P align=justify>Provide an open avenue of communication between the
      Auditor and the Board.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">25) .</TD>
    <TD>
      <P align=justify>Not delegate these responsibilities other than to one or
      more independent members of the Committee the authority to pre-approve,
      which the Committee must ratify at its next meeting, audit and permitted
      non-audit services to be provided by the Auditor.</P></TD></TR></TABLE>
<P
align=justify>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Whistle-Blower
Policy</U> </P>
<P align=justify>The Committee shall establish and annually review the
procedures for (i) the receipt, retention and treatment of complaints received
by the Company regarding accounting, internal accounting controls, or auditing
matters, and (ii) the confidential, anonymous submission by employees of the
Company of concerns regarding questionable accounting or auditing matters.</P>
<P align=justify>D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Limitation of
Audit Committee&#146;s Role</U> </P>
<P align=justify>While the Committee has the responsibilities and powers set
forth in this Charter, it is not the duty of the Committee to plan or conduct
audits or to determine that the Company&#146;s financial statements and disclosures
are complete and accurate and are in accordance with generally accepted
accounting principles and applicable rules and regulations. These are the
responsibilities of management and the Auditor. </P>
<P align=justify>This Charter, as amended, was approved by the Board of
Directors on March 27, 2017. </P>
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  <context id="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-AzurMadencilikLtdSirketiMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">emx:AzurMadencilikLtdSirketiMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-EurasianMineralsCooperatiefUAMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">emx:EurasianMineralsCooperatiefUAMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-EurasianMineralsSwedenABMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">emx:EurasianMineralsSwedenABMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-ViadRoyaltiesABMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">emx:ViadRoyaltiesABMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-WaikatoGoldLimitedMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:SignificantInvestmentsInSubsidiariesAxis">emx:WaikatoGoldLimitedMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfReceivablesAxis-SaleOfAkarcaMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:SaleOfAkarcaMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfReceivablesAxis-SaleOfAkarcaMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:SaleOfAkarcaMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfReceivablesAxis-RoyaltyIncomeReceivableMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:RoyaltyIncomeReceivableMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfReceivablesAxis-RoyaltyIncomeReceivableMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:RoyaltyIncomeReceivableMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfReceivablesAxis-RefundableTaxesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:RefundableTaxesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfReceivablesAxis-RefundableTaxesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:RefundableTaxesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfReceivablesAxis-RecoverableExplorationExpendituresAndAdvancesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:RecoverableExplorationExpendituresAndAdvancesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfReceivablesAxis-RecoverableExplorationExpendituresAndAdvancesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:RecoverableExplorationExpendituresAndAdvancesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfReceivablesAxis-OtherReceivablesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:OtherReceivablesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfReceivablesAxis-OtherReceivablesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfReceivablesAxis">emx:OtherReceivablesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-CAD">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:CAD</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-CAD">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:CAD</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-USD">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:USD</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-USD">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:USD</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-TRY">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:TRY</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-TRY">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:TRY</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-SEK">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:SEK</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-SEK">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">currency:SEK</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-OtherCurrenciesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">emx:OtherCurrenciesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-OtherCurrenciesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:AmountsDenominatedInForeignCurrenciesAxis">emx:OtherCurrenciesMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfRestrictedCashAxis-HeldAsCollateralForItsCorporateCreditCardsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfRestrictedCashAxis">emx:HeldAsCollateralForItsCorporateCreditCardsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfRestrictedCashAxis-HeldAsCollateralForItsCorporateCreditCardsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfRestrictedCashAxis">emx:HeldAsCollateralForItsCorporateCreditCardsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfRestrictedCashAxis-HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfRestrictedCashAxis">emx:HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfRestrictedCashAxis-HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfRestrictedCashAxis">emx:HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ComponentsOfRestrictedCashAxis-HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfRestrictedCashAxis">emx:HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ComponentsOfRestrictedCashAxis-HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="emx:ComponentsOfRestrictedCashAxis">emx:HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
  </context>
  <context id="cx_31_December_2015_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2015_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2015_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
  </context>
  <context id="cx_01_January_2016_TO_31_December_2016_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2016_TO_31_December_2016_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2016_TO_31_December_2016_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2016-01-01</startDate>
      <endDate>2016-12-31</endDate>
    </period>
  </context>
  <context id="cx_31_December_2016_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2016-12-31</instant>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_01_January_2017_TO_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2017-01-01</startDate>
      <endDate>2017-12-31</endDate>
    </period>
  </context>
  <context id="cx_31_December_2017_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2017_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:GrossCarryingAmountMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2017-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
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  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
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  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:BuildingsMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:LandMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_31_December_2014_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <instant>2014-12-31</instant>
    </period>
  </context>
  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
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  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember">
    <entity>
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      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
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  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:OfficeEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
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  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:VehiclesMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
      </segment>
    </entity>
    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
    </period>
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  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember">
    <entity>
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      <segment>
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        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
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  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
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        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
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  <context id="cx_01_January_2015_TO_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
      <segment>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    <period>
      <startDate>2015-01-01</startDate>
      <endDate>2015-12-31</endDate>
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  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
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        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">ifrs-full:ComputerEquipmentMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    </entity>
    <period>
      <instant>2015-12-31</instant>
    </period>
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  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember">
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      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
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        <xbrldi:explicitMember dimension="ifrs-full:ClassesOfPropertyPlantAndEquipmentAxis">emx:FieldMember</xbrldi:explicitMember>
        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    <period>
      <instant>2015-12-31</instant>
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  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
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      <identifier scheme="http://www.sec.gov/CIK">0001285786</identifier>
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        <xbrldi:explicitMember dimension="ifrs-full:CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">ifrs-full:AccumulatedDepreciationAndAmortisationMember</xbrldi:explicitMember>
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    <period>
      <instant>2015-12-31</instant>
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  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
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    <period>
      <instant>2015-12-31</instant>
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  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-BuildingsMember">
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      <instant>2015-12-31</instant>
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  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-LandMember">
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      <instant>2015-12-31</instant>
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  <context id="cx_31_December_2015_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember">
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    <period>
      <instant>2015-12-31</instant>
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  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-ComputerEquipmentMember">
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  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-FieldMember">
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  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-OfficeEquipmentMember">
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  <context id="cx_01_January_2016_TO_31_December_2016_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAndAmortisationMember_ClassesOfPropertyPlantAndEquipmentAxis-VehiclesMember">
    <entity>
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      <segment>
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  <ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;1. NATURE OF OPERATIONS AND GOING CONCERN&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;EMX Royalty Corporation (the &amp;#8220;Company&amp;#8221; or &amp;#8220;EMX&amp;#8221;) and its subsidiaries operates as a royalty and prospect generator engaged in the exploring for, and generating royalties from, metals and minerals properties. The Company&amp;#8217;s royalty and exploration portfolio mainly consists of properties in North America, Turkey, Europe, Haiti, Australia, and New Zealand. The Company&amp;#8217;s common shares are listed on the TSX Venture Exchange (&amp;#8220;TSX-V&amp;#8221;) and the NYSE MKT under the symbol of &amp;#8220;EMX&amp;#8221;. The Company&amp;#8217;s head office is located at 501 - 543 Granville Street, Vancouver, British Columbia, Canada V6C 1X8.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;On July 19, 2017 the Company officially changed its name to EMX Royalty Corporation, formerly Eurasian Minerals Inc.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;These consolidated financial statements have been prepared using International Financial Reporting Standards (&amp;#8220;IFRS&amp;#8221;) applicable to a going concern, which assumes that the Company will be able to realize its assets, discharge its liabilities and continue in operation for the following twelve months.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      With its current plans for the year and the budgets associated with those plans, in order to continue funding its administrative and royalty generation programs from the date of these consolidated financial statements, management believes it will require additional working capital to undertake it&amp;#8217;s current business plan. The Company has incurred recurring losses and has an accumulated deficit of $104,382,744. In order to maintain or adjust the capital structure, the Company may issue new shares through public and/or private placements, sell assets, or return capital to shareholders. These uncertainties may cast doubt upon the Company&amp;#8217;s ability to continue as a going concern.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Some of the Company&amp;#8217;s activities for exploration and evaluation assets are located in emerging nations and, consequently, may be subject to a higher level of risk compared to other developed countries. Operations, the status of mineral property rights and the recoverability of investments in emerging nations can be affected by changing economic, legal, regulatory and political situations.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;At the date of these consolidated financial statements, the Company has not identified a known body of commercial grade mineral on any of its exploration and evaluation assets. The ability of the Company to realize the costs it has incurred to date on these exploration and evaluation assets is dependent upon the Company identifying a commercial mineral body, to finance its development costs and to resolve any environmental, regulatory or other constraints which may hinder the successful development of the exploration and evaluation assets.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;These consolidated financial statements of the Company are presented in Canadian dollars unless otherwise noted, which is the functional currency of the parent company and its subsidiaries except as to Bullion Monarch Mining, Inc., the holder of a royalty income stream whose functional currency is the United States (&amp;#8220;US&amp;#8221;) dollar.&lt;/p&gt;</ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory>
  <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;2. STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Statement of Compliance&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;These consolidated financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board (&amp;#8220;IASB&amp;#8221;) and interpretations of the International Financial Reporting Interpretations Committee (&amp;#8220;IFRIC&amp;#8221;).&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;These consolidated financial statements have been prepared on a historical cost basis, except for financial instruments classified as fair value through profit or loss or available for sale, which are stated at their fair value. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting except for cash flow information.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Summary of Significant Accounting Policies&lt;/b&gt;
    &lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Basis of Consolidation&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The consolidated financial statements comprise the accounts of EMX Royalty Corp., the parent company, and its controlled subsidiaries, after the elimination of all significant intercompany balances and transactions.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;i&gt;Subsidiaries&lt;/i&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Subsidiaries are all entities over which the Company has exposure to variable returns from its involvement and has the ability to use power over the investee to affect its returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Company controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company until the date on which control ceases.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The accounts of subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. Inter-company transactions, balances and unrealized gains or losses on transactions are eliminated. The Company&amp;#8217;s principal operating subsidiaries are as follows:&lt;/p&gt;
                      &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                    &lt;b&gt;Name&lt;/b&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
                    &lt;b&gt;Place of Incorporation&lt;/b&gt;
                  &lt;/td&gt;
                  &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
                    &lt;b&gt;Ownership Percentage&lt;/b&gt;
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Bullion Monarch Mining, Inc&lt;/td&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Utah, USA&lt;/td&gt;
                  &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" valign="bottom"&gt;EMX (USA) Services Corp.&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="25%"&gt;Nevada, USA&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Bronco Creek Exploration Inc.&lt;/td&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Arizona, USA&lt;/td&gt;
                  &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" valign="bottom"&gt;Eurasia Madencilik Ltd. Sirketi&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="25%"&gt;Turkey&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Azur Madencilik Ltd. Sirketi&lt;/td&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Turkey&lt;/td&gt;
                  &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" valign="bottom"&gt;Eurasian Minerals Cooperatief U.A.&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="25%"&gt;Netherlands&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Eurasian Minerals Sweden AB&lt;/td&gt;
                  &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Sweden&lt;/td&gt;
                  &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" valign="bottom"&gt;Viad Royalties AB&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="25%"&gt;Sweden&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr valign="top"&gt;
                  &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Waikato Gold Limited&lt;/td&gt;
                  &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;New Zealand&lt;/td&gt;
                  &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
                    100%
                  &lt;/td&gt;
                &lt;/tr&gt;
            &lt;/table&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Functional and Reporting Currency&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          The functional currency is the currency of the primary economic environment in which the entity operates. The functional currency for the Company and its subsidiaries is the Canadian dollar except the functional currency of the operations of Bullion Monarch which is the US dollar. The functional currency determinations were conducted through an analysis of the consideration factors identified in IAS
          21, The Effects of Changes in Foreign Exchange Rates.
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;i&gt;Translation of transactions and balances&lt;/i&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Monetary assets and liabilities denominated in foreign currencies are re-measured at the rate of exchange at each financial position date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;On translation of the entities whose functional currency is other than the Canadian dollar, revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Assets and liabilities are translated at the rate of exchange at the reporting date. Exchange gains and losses, including results of re-translation, are recorded in the foreign currency translation reserve.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Financial Instruments&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;All financial instruments are classified into one of the following four categories:&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td valign="top" width="5%"&gt;(a)&lt;/td&gt;
              &lt;td&gt;Financial assets and financial liabilities at fair value through profit or loss (&amp;#8220;FVTPL&amp;#8221;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;Financial assets and financial liabilities classified as FVTPL are acquired or incurred principally for the purpose of selling or repurchasing them in the near term. They are recognized at fair value based on market prices, with any resulting gains and losses reflected in profit or loss for the period in which they arise.&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td valign="top" width="5%"&gt;(b)&lt;/td&gt;
              &lt;td&gt;Held-to-maturity financial assets&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;Held-to-maturity financial assets are non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity. They are measured at amortized cost using the effective interest rate method less any impairment loss. A gain or loss is recognized in profit or loss when the financial asset is derecognized or impaired, and through the amortization process.&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td valign="top" width="5%"&gt;(c)&lt;/td&gt;
              &lt;td&gt;Available for sale financial assets&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;Available for sale (&amp;#8220;AFS&amp;#8221;) financial assets are non-derivative financial assets that are designated as available for sale, or that are not classified as loans and receivables, held-to-maturity investments, or FVTPL. They are measured at fair value. Fair value is determined based on market prices. Equity instruments that do not have a quoted market price in an active market are measured at cost. Gains and losses are recognized directly in other comprehensive income (loss) until the financial asset is derecognized, at which time the cumulative gain or loss previously recognized in accumulated other comprehensive income (loss) is recognized in profit or loss for the period.&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td valign="top" width="5%"&gt;(d)&lt;/td&gt;
              &lt;td&gt;Loans and receivables and other financial liabilities&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td&gt;Loans and receivables and other financial liabilities are measured at amortized cost, using the effective interest rate method less any impairment loss.&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s financial instruments consist of cash and cash equivalents, investments, receivables, restricted cash, reclamation bonds, notes receivable, strategic investments, accounts payable and accrued liabilities, and advances from joint venture partners. Unless otherwise noted the fair value of these financial instruments approximates their carrying values.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Cash and cash equivalents are classified as loans and receivables. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Warrants held through investments are classified as derivative financial assets at FVTPL and are accounted for at fair value. For warrants that are not traded on an exchange, no market value is readily available. When there are sufficient and reliable observable market inputs, a valuation technique is used; if no such market inputs are available, the warrants are valued at intrinsic value, which is equal to the higher of the market value of the underlying security less the exercise price of the warrant, or zero.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Investments (Marketable securities) classified as FVTPL are measured at fair market value. Changes in fair value of FVTPL assets are reflected in profit or loss in the period in which they occur. Changes in fair value of AFS assets are reflected in accumulated other comprehensive income on the statement of financial position until sold or if there is an other than temporary impairment in value.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Reclamation bonds are classified as financial assets held-to-maturity.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company classifies its restricted cash and certain receivables as loans and receivables and its accounts payable and accrued liabilities and advances from joint venture partners as other financial liabilities.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Certain receivables related to the sale of Akarca (Note 4) are considered to be derivative financial assets as they are subject to variations in gold price per ounce on record date and final price received and are accordingly classified as FVTPL. The derivative receivable is recorded at fair value each period until final settlement occurs, with changes in fair value reflected in profit or loss for the period in which they arise.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Impairment of Financial Assets&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows of the financial assets have been impacted.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;For all financial assets, objective evidence of impairment could include:&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
              &lt;td align="left" width="90%"&gt;Significant financial difficulty of the issuer or counterparty;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
              &lt;td align="left" width="90%"&gt;Default or delinquency in interest or principal payments; or,&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
              &lt;td align="left" width="90%"&gt;It becoming probable that the borrower will enter bankruptcy or financial re-organization.&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;For certain categories of financial assets that are assessed not to be impaired individually, they are subsequently assessed for impairment on a collective basis. The carrying amount of financial assets is reduced by the impairment loss directly for all financial assets with the exception of receivables, where the carrying amount is reduced through the use of an allowance account. When a receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;With the exception of FVTPL marketable securities, if in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. In respect of AFS marketable securities, impairment losses previously recognized through profit or loss are not reversed through profit or loss. Any increase in fair value subsequent to an impairment loss is recognized directly in equity.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Convertible Notes Receivable&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The notes receivable are hybrid financial assets that consist of a note receivable component and a separate equity conversion component. The conversion feature is measured at fair value on initial recognition by discounting the stream of future interest and principal payments at the rate of interest prevailing at the date of the issue for instruments of similar term and risk. Interest income based on the rate of the note will be receivable on maturity are recognized through profit and loss as interest income. The equity conversion option is an embedded derivative that has been separated from the notes receivable and is valued based on residual value.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Investments in Associated Companies&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company accounts for its long-term investments in affiliated companies over which it has significant influence using the equity basis of accounting, whereby the investment is initially recorded at cost, adjusted to recognize the Company&amp;#8217;s share of earnings or losses and reduced by dividends received.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company assesses its equity investments for impairment if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the equity investment and that the event or events has an impact on the estimated future cash flow of the investment that can be reliably estimated. Objective evidence of impairment of equity investments includes:&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
              &lt;td align="left" width="90%"&gt;Significant financial difficulty of the associated companies;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
              &lt;td align="left" width="90%"&gt;Becoming probable that the associated companies will enter bankruptcy or other financial reorganization; or,&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
              &lt;td align="left" width="90%"&gt;National or local economic conditions that correlate with defaults of the associated companies.&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Exploration and evaluation assets and exploration expenditures&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Acquisition costs for exploration and evaluation assets, net of recoveries, are capitalized on a property-by-property basis. Acquisition costs include cash consideration and the value of common shares, based on recent issue prices, issued for exploration and evaluation assets pursuant to the terms of the agreement. Exploration expenditures, net of recoveries, are charged to operations as incurred. After a property is determined by management to be commercially feasible, an impairment test is conducted and subsequent development expenditures on the property will be capitalized.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;When there is little prospect of further work on a property being carried out by the Company or its partners, when a property is abandoned, or when the capitalized costs are no longer considered recoverable, the related property costs are written down to management&amp;#8217;s estimate of their net recoverable amount. The costs related to a property from which there is production, together with the costs of production equipment, will be depleted and amortized using the unit-of-production method.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;An exploration and evaluation asset acquired under an option agreement, where payments are made at the sole discretion of the Company, is capitalized at the time of payment. Option payments received are treated as a reduction of the carrying value of the related acquisition cost for the mineral property until the payments are in excess of acquisition costs, at which time they are then credited to profit or loss. Option payments are at the discretion of the optionee and, accordingly, are accounted for when receipt is reasonably assured.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Revenue recognition&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          The Company recognizes revenue in accordance with
          &lt;i&gt;IAS 18 Revenue&lt;/i&gt;
          and based upon amounts contractually due pursuant to the underlying royalty agreements. Specifically, royalty revenue is recognized in accordance with the terms of the underlying royalty agreements subject to (i) when persuasive evidence of an arrangement exists; (ii) the risks and rewards of ownership have been transferred; (iii) the royalty or stream being fixed or determinable; and (iv) the collectability of the royalty being reasonably assured. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of revenue and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Royalty revenue may be subject to adjustment upon final settlement of estimated metal prices, weights, and assays. Adjustments to revenue from metal prices are recorded monthly and other adjustments are recorded on final settlement and are offset against revenue when incurred.
        &lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Royalty interests&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          Royalty interests in mineral properties include acquired royalty interests in production stage and exploration stage properties. In accordance with
          &lt;i&gt;IAS 38 Intangible Assets&lt;/i&gt;
          , the cost of acquired royalty interests in mineral properties is capitalized as intangible assets.
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Acquisition costs of production stage royalty interests are depleted using the units of production method over the life of the related mineral property, which is calculated using estimated reserves. Acquisition costs of royalty interests on exploration stage mineral properties, where there are no estimated reserves, are not amortized. At such time as the associated exploration stage mineral interests are converted to estimated reserves, the cost basis is amortized over the remaining life of the mineral property, using the estimated reserves. The carrying values of exploration stage mineral interests are evaluated for impairment at such time as information becomes available indicating that production will not occur in the future.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Goodwill&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Goodwill represents the excess of the price paid for the acquisition of a consolidated entity over the fair value of the net identifiable tangible and intangible assets and liabilities acquired in a business combination. Goodwill is allocated to the cash generating unit to which it relates.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Property and equipment&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          Property and equipment is recorded at cost. Buildings are depreciated using a
          5
          year straightline method. Equipment is depreciated over its estimated useful life using the declining balance method at a rate of
          20% per annum. Depreciation on equipment used directly on exploration projects is included in exploration expenditures for that mineral property.
        &lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Decommissioning liabilities&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Decommissioning liabilities are recognized for the expected obligations related to the retirement of long-lived tangible assets that arise from the acquisition, construction, development or normal operation of such assets. A decommissioning liability is recognized in the period in which it is incurred and when a reasonable estimate of the fair value of the liability can be made with a corresponding decommissioning cost recognized by increasing the carrying amount of the related long-lived asset. The decommissioning cost is subsequently allocated in a rational and systematic method over the underlying asset&amp;#8217;s useful life.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The initial fair value of the liability is accreted, by charges to profit or loss, to its estimated future value.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Environmental disturbance restoration&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the operating life of an asset, events such as infractions of environmental laws or regulations may occur. These events are not related to the normal operation of the asset and are referred to as environmental disturbance restoration provisions. The costs associated with these provisions are accrued and charged to profit or loss in the period in which the event giving rise to the liability occurs. Any subsequent adjustments to these provisions due to changes in estimates are also charged to profit or loss in the period of adjustment. These costs are not capitalized as part of the long-lived assets&amp;#8217; carrying value.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Impairment of assets&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Events or changes in circumstances can give rise to significant impairment charges or reversals of impairment in a particular year. The Company assesses its cash generating units annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, an estimate of the recoverable amount is made, which is the higher of the fair value less costs to sell and value in use. The determination of the recoverable amount for value in use requires the use of estimates and assumptions such as long-term commodity prices, discount rates, future capital requirements, exploration potential and future operating performance. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm&amp;#8217;s length transaction between knowledgeable and willing parties.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Cash and cash equivalents&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Cash and cash equivalents include cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Share-based payments&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Share-based payments include option and stock grants granted to directors, employees and non-employees. The Company accounts for share-based compensation using a fair value based method with respect to all share-based payments measured and recognized, to directors, employees and non-employees. For directors and employees, the fair value of the options and stock grants is measured at the date of grant. For non-employees, the fair value of the options and stock are measured at the fair value of the goods or services received or the fair value of the equity instruments issued, if it is determined the fair value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received. For directors, employees and non-employees, the fair value of the options and stock grants is accrued and charged to operations, with the offsetting credit to share based payment reserve for options, and commitment to issue shares for stock grants over the vesting period. If and when the stock options are exercised, the applicable amounts are transferred from share-based payment reserve to share capital. When the stock grants are issued, the applicable fair value is transferred from commitment to issue shares to share capital. Option based compensation awards are calculated using the Black-Scholes option pricing model while stock grants are valued at the fair value on the date of grant.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has granted certain employees and non-employess restricted share units (&amp;#8220;RSUs&amp;#8221;) to be settled in shares of the Corporation. The fair value of the estimated number of RSUs that will eventually vest, determined at the date of grant, is recognized as share-based compensation expense over the vesting period, with a corresponding amount recorded as equity. The fair value of the RSUs is estimated using the market value of the underlying shares as well as assumptions related to the market and non-market conditions at the grant date.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Income taxes&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Income tax expense consists of current and deferred tax. Income tax expense is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is calculated providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Deferred tax is not recognized on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable income nor loss. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;A deferred tax asset is recognized to the extent that it is probable that future taxable income will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Income (loss) per share&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Basic income or loss per share is calculated by dividing the net income or loss for the year by the weighted average number of shares outstanding during the year. Diluted income or loss per share is calculated whereby the weighted average number of shares outstanding used in the calculation of diluted income or loss per share assumes that the deemed proceeds received from the exercise of stock options, share purchase warrants and their equivalents would be used to repurchase common shares of the Company at the average market price during the year, if they are determined to have a dilutive effect.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Existing stock options and share purchase warrants have not been included in the current year computation of diluted loss per share as to do so would be anti-dilutive. For the years presented the basic and diluted losses per share are the same.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Valuation of equity units issued in private placements&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The fair value of the common shares issued in the private placements was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted bid price on the day prior to the issuance date. The balance, if any, was allocated to the attached warrants. Any fair value attributed to the warrants is recorded in reserves.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Segment reporting&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segment, has been identified as the Chief Executive Officer.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Accounting pronouncements not yet effective&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The following standards and pronouncements have been issued by the IASB and have not yet been adopted by the Company.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;IFRS 9 requires financial assets to be classified into three measurement categories on initial recognition: those measured at fair value through profit and loss, those measured at fair value through other comprehensive income and those measured at amortized cost. Measurement and classification of financial assets is dependent on the entity&amp;#8217;s business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. For financial liabilities, the standard retains most of the IAS 39 requirements.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;In May 2014, the IASB issued IFRS 15 Revenue from Contracts with Customers ("IFRS 15"), which supersedes IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and SIC 31 Revenue - Barter Transactions involving Advertising Services. IFRS 15 establishes a single five-step model framework for determining the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. The standard is effective for annual periods beginning on or after January 1, 2018, with early adoption permitted.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;IFRS 16 Leases was issued in January 2016 (effective January 1, 2019) and provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company expects that these new IFRS standards will have an insignificant effect on its consolidated financial statements other than increased note disclosure.&lt;/p&gt;
              &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          &lt;b&gt;Critical Accounting Judgments and Significant Estimates and Uncertainties&lt;/b&gt;
        &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The preparation of the consolidated financial statements requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported revenue and expenses during the periods presented therein. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, royalty revenues and expenses. Management bases its judgments and estimates on historical experience and on other various factors it believes to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions and conditions.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has identified the following critical accounting policies in which significant judgments, estimates and assumptions are made and where actual results may differ from these estimates under different assumptions and conditions and may materially affect financial results or the financial position reported in future periods. Further details of the nature of these assumptions and conditions may be found in the relevant notes to the consolidated financial statements.&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr&gt;
              &lt;td valign="top" width="5%"&gt;
                &lt;i&gt;a)&lt;/i&gt;
              &lt;/td&gt;
              &lt;td&gt;
                &lt;i&gt;Royalty interest and related depletion&lt;/i&gt;
              &lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;In accordance with the Company&amp;#8217;s accounting policy, royalty interests are evaluated on a periodic basis to determine whether there are any indications of impairment. If any such indication exists, a formal estimate of recoverable amount is performed and an impairment loss recognized to the extent that carrying amount exceeds recoverable amount. The recoverable amount of a royalty asset is measured at the higher of fair value less costs to sell and value in use. The determination of fair value and value in use requires management to make estimates and assumptions about expected production and sales volumes, the proportion of areas subject to royalty rights, commodity prices (considering current and historical prices, price trends and related factors), and reserves. These estimates and assumptions are subject to risk and uncertainty; hence there is a possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances, some or all of the carrying value of the assets may be further impaired or the impairment charge reduced with the impact recorded in profit or loss.&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr&gt;
              &lt;td valign="top" width="5%"&gt;
                &lt;i&gt;b)&lt;/i&gt;
              &lt;/td&gt;
              &lt;td&gt;
                &lt;i&gt;Goodwill&lt;/i&gt;
              &lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount. The assessment of the recoverable amount used in the goodwill impairment analysis is subject to similar judgments and estimates as described above for property and equipment and royalty interests.&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr&gt;
              &lt;td valign="top" width="5%"&gt;
                &lt;i&gt;c)&lt;/i&gt;
              &lt;/td&gt;
              &lt;td&gt;
                &lt;i&gt;Exploration and Evaluation Assets&lt;/i&gt;
              &lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Recorded costs of exploration and evaluation assets are not intended to reflect present or future values of exploration and evaluation assets. The recorded costs are subject to measurement uncertainty and it is reasonably possible, based on existing knowledge, that a change in future conditions could require a material change in the recognized amount.&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr&gt;
              &lt;td valign="top" width="5%"&gt;
                &lt;i&gt;d)&lt;/i&gt;
              &lt;/td&gt;
              &lt;td&gt;
                &lt;i&gt;Taxation&lt;/i&gt;
              &lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s accounting policy for taxation requires management&amp;#8217;s judgment as to the types of arrangements considered to be a tax on income in contrast to an operating cost. Judgment is also required in assessing whether deferred tax assets and certain deferred tax liabilities are recognized on the statement of financial position.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Deferred tax assets, including those arising from unused tax losses, capital losses and temporary differences, are recognized only where it is considered probable that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Deferred tax liabilities arising from temporary differences caused principally by the expected royalty revenues generated by the royalty property are recognized unless expected offsetting tax losses are sufficient to offset the taxable income and therefore, taxable income is not expected to occur in the foreseeable future. Assumptions about the generation of future taxable profits depend on management&amp;#8217;s estimates of future cash flows. These depend on estimates of future production and sales volumes, commodity prices, and reserves. Judgments are also required about the application of income tax legislation in foreign jurisdictions. These judgments and assumptions are subject to risk and uncertainty, hence there is a possibility that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets and deferred tax liabilities recognized on the statement of financial position and the amount of other tax losses and temporary differences not yet recognized. In such circumstances, some or the entire carrying amount of recognized deferred tax assets and liabilities may require adjustment, resulting in a corresponding credit or charge to profit or loss.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements include, but are not limited to, the following:&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr&gt;
              &lt;td valign="top" width="5%"&gt;
                &lt;i&gt;a)&lt;/i&gt;
              &lt;/td&gt;
              &lt;td&gt;
                &lt;i&gt;Functional Currencies&lt;/i&gt;
              &lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The functional currency of each of the Company&amp;#8217;s subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions, which determined the primary economic environment.&lt;/p&gt;
        &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr&gt;
              &lt;td valign="top" width="5%"&gt;b)&lt;/td&gt;
              &lt;td&gt;
                &lt;i&gt;Classification of investments as subsidiaries, joint ventures, associated company and portfolio investments&lt;/i&gt;
              &lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
          Classification of investments requires judgement as to whether the Company controls, has joint control of or significant influence over the strategic financial and operating decisions relating to the activity of the investee. In assessing the level of control or influence that the Company has over an investment, management considers ownership percentages, board representation as well as other relevant provisions in shareholder agreements. If an investor holds
          20% or more of the voting power of the investee, it is presumed that the investor has significant influence, unless it can be clearly demonstrated that this is not the case. Conversely, if the investor holds less than
          20% of the voting power of the investee, it is presumed that the investor does not have significant influence, unless such influence can be clearly demonstrated.
        &lt;/p&gt;</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Basis of Consolidation&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The consolidated financial statements comprise the accounts of EMX Royalty Corp., the parent company, and its controlled subsidiaries, after the elimination of all significant intercompany balances and transactions.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;i&gt;Subsidiaries&lt;/i&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Subsidiaries are all entities over which the Company has exposure to variable returns from its involvement and has the ability to use power over the investee to affect its returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Company controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company until the date on which control ceases.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The accounts of subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. Inter-company transactions, balances and unrealized gains or losses on transactions are eliminated. The Company&amp;#8217;s principal operating subsidiaries are as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;b&gt;Name&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
                &lt;b&gt;Place of Incorporation&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
                &lt;b&gt;Ownership Percentage&lt;/b&gt;
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Bullion Monarch Mining, Inc&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Utah, USA&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;EMX (USA) Services Corp.&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="25%"&gt;Nevada, USA&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Bronco Creek Exploration Inc.&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Arizona, USA&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Eurasia Madencilik Ltd. Sirketi&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="25%"&gt;Turkey&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Azur Madencilik Ltd. Sirketi&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Turkey&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Eurasian Minerals Cooperatief U.A.&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="25%"&gt;Netherlands&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Eurasian Minerals Sweden AB&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Sweden&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Viad Royalties AB&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="25%"&gt;Sweden&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Waikato Gold Limited&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;New Zealand&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
                100%
              &lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;</ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Functional and Reporting Currency&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The functional currency is the currency of the primary economic environment in which the entity operates. The functional currency for the Company and its subsidiaries is the Canadian dollar except the functional currency of the operations of Bullion Monarch which is the US dollar. The functional currency determinations were conducted through an analysis of the consideration factors identified in IAS
      21, The Effects of Changes in Foreign Exchange Rates.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;i&gt;Translation of transactions and balances&lt;/i&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Monetary assets and liabilities denominated in foreign currencies are re-measured at the rate of exchange at each financial position date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;On translation of the entities whose functional currency is other than the Canadian dollar, revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Assets and liabilities are translated at the rate of exchange at the reporting date. Exchange gains and losses, including results of re-translation, are recorded in the foreign currency translation reserve.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Financial Instruments&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;All financial instruments are classified into one of the following four categories:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;(a)&lt;/td&gt;
          &lt;td&gt;Financial assets and financial liabilities at fair value through profit or loss (&amp;#8220;FVTPL&amp;#8221;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;Financial assets and financial liabilities classified as FVTPL are acquired or incurred principally for the purpose of selling or repurchasing them in the near term. They are recognized at fair value based on market prices, with any resulting gains and losses reflected in profit or loss for the period in which they arise.&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;(b)&lt;/td&gt;
          &lt;td&gt;Held-to-maturity financial assets&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;Held-to-maturity financial assets are non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity. They are measured at amortized cost using the effective interest rate method less any impairment loss. A gain or loss is recognized in profit or loss when the financial asset is derecognized or impaired, and through the amortization process.&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;(c)&lt;/td&gt;
          &lt;td&gt;Available for sale financial assets&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;Available for sale (&amp;#8220;AFS&amp;#8221;) financial assets are non-derivative financial assets that are designated as available for sale, or that are not classified as loans and receivables, held-to-maturity investments, or FVTPL. They are measured at fair value. Fair value is determined based on market prices. Equity instruments that do not have a quoted market price in an active market are measured at cost. Gains and losses are recognized directly in other comprehensive income (loss) until the financial asset is derecognized, at which time the cumulative gain or loss previously recognized in accumulated other comprehensive income (loss) is recognized in profit or loss for the period.&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;(d)&lt;/td&gt;
          &lt;td&gt;Loans and receivables and other financial liabilities&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;Loans and receivables and other financial liabilities are measured at amortized cost, using the effective interest rate method less any impairment loss.&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s financial instruments consist of cash and cash equivalents, investments, receivables, restricted cash, reclamation bonds, notes receivable, strategic investments, accounts payable and accrued liabilities, and advances from joint venture partners. Unless otherwise noted the fair value of these financial instruments approximates their carrying values.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Cash and cash equivalents are classified as loans and receivables. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Warrants held through investments are classified as derivative financial assets at FVTPL and are accounted for at fair value. For warrants that are not traded on an exchange, no market value is readily available. When there are sufficient and reliable observable market inputs, a valuation technique is used; if no such market inputs are available, the warrants are valued at intrinsic value, which is equal to the higher of the market value of the underlying security less the exercise price of the warrant, or zero.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Investments (Marketable securities) classified as FVTPL are measured at fair market value. Changes in fair value of FVTPL assets are reflected in profit or loss in the period in which they occur. Changes in fair value of AFS assets are reflected in accumulated other comprehensive income on the statement of financial position until sold or if there is an other than temporary impairment in value.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Reclamation bonds are classified as financial assets held-to-maturity.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company classifies its restricted cash and certain receivables as loans and receivables and its accounts payable and accrued liabilities and advances from joint venture partners as other financial liabilities.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Certain receivables related to the sale of Akarca (Note 4) are considered to be derivative financial assets as they are subject to variations in gold price per ounce on record date and final price received and are accordingly classified as FVTPL. The derivative receivable is recorded at fair value each period until final settlement occurs, with changes in fair value reflected in profit or loss for the period in which they arise.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Impairment of Financial Assets&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows of the financial assets have been impacted.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;For all financial assets, objective evidence of impairment could include:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;Significant financial difficulty of the issuer or counterparty;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;Default or delinquency in interest or principal payments; or,&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;It becoming probable that the borrower will enter bankruptcy or financial re-organization.&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;For certain categories of financial assets that are assessed not to be impaired individually, they are subsequently assessed for impairment on a collective basis. The carrying amount of financial assets is reduced by the impairment loss directly for all financial assets with the exception of receivables, where the carrying amount is reduced through the use of an allowance account. When a receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;With the exception of FVTPL marketable securities, if in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. In respect of AFS marketable securities, impairment losses previously recognized through profit or loss are not reversed through profit or loss. Any increase in fair value subsequent to an impairment loss is recognized directly in equity.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Convertible Notes Receivable&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The notes receivable are hybrid financial assets that consist of a note receivable component and a separate equity conversion component. The conversion feature is measured at fair value on initial recognition by discounting the stream of future interest and principal payments at the rate of interest prevailing at the date of the issue for instruments of similar term and risk. Interest income based on the rate of the note will be receivable on maturity are recognized through profit and loss as interest income. The equity conversion option is an embedded derivative that has been separated from the notes receivable and is valued based on residual value.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Investments in Associated Companies&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company accounts for its long-term investments in affiliated companies over which it has significant influence using the equity basis of accounting, whereby the investment is initially recorded at cost, adjusted to recognize the Company&amp;#8217;s share of earnings or losses and reduced by dividends received.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company assesses its equity investments for impairment if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the equity investment and that the event or events has an impact on the estimated future cash flow of the investment that can be reliably estimated. Objective evidence of impairment of equity investments includes:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;Significant financial difficulty of the associated companies;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;Becoming probable that the associated companies will enter bankruptcy or other financial reorganization; or,&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;National or local economic conditions that correlate with defaults of the associated companies.&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates>
  <ifrs-full:DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Exploration and evaluation assets and exploration expenditures&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Acquisition costs for exploration and evaluation assets, net of recoveries, are capitalized on a property-by-property basis. Acquisition costs include cash consideration and the value of common shares, based on recent issue prices, issued for exploration and evaluation assets pursuant to the terms of the agreement. Exploration expenditures, net of recoveries, are charged to operations as incurred. After a property is determined by management to be commercially feasible, an impairment test is conducted and subsequent development expenditures on the property will be capitalized.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;When there is little prospect of further work on a property being carried out by the Company or its partners, when a property is abandoned, or when the capitalized costs are no longer considered recoverable, the related property costs are written down to management&amp;#8217;s estimate of their net recoverable amount. The costs related to a property from which there is production, together with the costs of production equipment, will be depleted and amortized using the unit-of-production method.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;An exploration and evaluation asset acquired under an option agreement, where payments are made at the sole discretion of the Company, is capitalized at the time of payment. Option payments received are treated as a reduction of the carrying value of the related acquisition cost for the mineral property until the payments are in excess of acquisition costs, at which time they are then credited to profit or loss. Option payments are at the discretion of the optionee and, accordingly, are accounted for when receipt is reasonably assured.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures>
  <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Revenue recognition&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company recognizes revenue in accordance with
      &lt;i&gt;IAS 18 Revenue&lt;/i&gt;
      and based upon amounts contractually due pursuant to the underlying royalty agreements. Specifically, royalty revenue is recognized in accordance with the terms of the underlying royalty agreements subject to (i) when persuasive evidence of an arrangement exists; (ii) the risks and rewards of ownership have been transferred; (iii) the royalty or stream being fixed or determinable; and (iv) the collectability of the royalty being reasonably assured. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of revenue and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Royalty revenue may be subject to adjustment upon final settlement of estimated metal prices, weights, and assays. Adjustments to revenue from metal prices are recorded monthly and other adjustments are recorded on final settlement and are offset against revenue when incurred.
    &lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
  <emx:DescriptonOfAccountingPolicyForRoyaltyInterestsExplanatoryPolicyTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Royalty interests&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Royalty interests in mineral properties include acquired royalty interests in production stage and exploration stage properties. In accordance with
      &lt;i&gt;IAS 38 Intangible Assets&lt;/i&gt;
      , the cost of acquired royalty interests in mineral properties is capitalized as intangible assets.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Acquisition costs of production stage royalty interests are depleted using the units of production method over the life of the related mineral property, which is calculated using estimated reserves. Acquisition costs of royalty interests on exploration stage mineral properties, where there are no estimated reserves, are not amortized. At such time as the associated exploration stage mineral interests are converted to estimated reserves, the cost basis is amortized over the remaining life of the mineral property, using the estimated reserves. The carrying values of exploration stage mineral interests are evaluated for impairment at such time as information becomes available indicating that production will not occur in the future.&lt;/p&gt;</emx:DescriptonOfAccountingPolicyForRoyaltyInterestsExplanatoryPolicyTextBlock>
  <ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Goodwill&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Goodwill represents the excess of the price paid for the acquisition of a consolidated entity over the fair value of the net identifiable tangible and intangible assets and liabilities acquired in a business combination. Goodwill is allocated to the cash generating unit to which it relates.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Property and equipment&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Property and equipment is recorded at cost. Buildings are depreciated using a
      5
      year straightline method. Equipment is depreciated over its estimated useful life using the declining balance method at a rate of
      20% per annum. Depreciation on equipment used directly on exploration projects is included in exploration expenditures for that mineral property.
    &lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Decommissioning liabilities&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Decommissioning liabilities are recognized for the expected obligations related to the retirement of long-lived tangible assets that arise from the acquisition, construction, development or normal operation of such assets. A decommissioning liability is recognized in the period in which it is incurred and when a reasonable estimate of the fair value of the liability can be made with a corresponding decommissioning cost recognized by increasing the carrying amount of the related long-lived asset. The decommissioning cost is subsequently allocated in a rational and systematic method over the underlying asset&amp;#8217;s useful life.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The initial fair value of the liability is accreted, by charges to profit or loss, to its estimated future value.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory>
  <emx:DescriptionOfAccountingPolicyForEnvironmentalDisturbanceRestorationExplanatoryPolicyTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Environmental disturbance restoration&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the operating life of an asset, events such as infractions of environmental laws or regulations may occur. These events are not related to the normal operation of the asset and are referred to as environmental disturbance restoration provisions. The costs associated with these provisions are accrued and charged to profit or loss in the period in which the event giving rise to the liability occurs. Any subsequent adjustments to these provisions due to changes in estimates are also charged to profit or loss in the period of adjustment. These costs are not capitalized as part of the long-lived assets&amp;#8217; carrying value.&lt;/p&gt;</emx:DescriptionOfAccountingPolicyForEnvironmentalDisturbanceRestorationExplanatoryPolicyTextBlock>
  <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Impairment of assets&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Events or changes in circumstances can give rise to significant impairment charges or reversals of impairment in a particular year. The Company assesses its cash generating units annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, an estimate of the recoverable amount is made, which is the higher of the fair value less costs to sell and value in use. The determination of the recoverable amount for value in use requires the use of estimates and assumptions such as long-term commodity prices, discount rates, future capital requirements, exploration potential and future operating performance. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm&amp;#8217;s length transaction between knowledgeable and willing parties.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Cash and cash equivalents&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Cash and cash equivalents include cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents>
  <ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Share-based payments&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Share-based payments include option and stock grants granted to directors, employees and non-employees. The Company accounts for share-based compensation using a fair value based method with respect to all share-based payments measured and recognized, to directors, employees and non-employees. For directors and employees, the fair value of the options and stock grants is measured at the date of grant. For non-employees, the fair value of the options and stock are measured at the fair value of the goods or services received or the fair value of the equity instruments issued, if it is determined the fair value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received. For directors, employees and non-employees, the fair value of the options and stock grants is accrued and charged to operations, with the offsetting credit to share based payment reserve for options, and commitment to issue shares for stock grants over the vesting period. If and when the stock options are exercised, the applicable amounts are transferred from share-based payment reserve to share capital. When the stock grants are issued, the applicable fair value is transferred from commitment to issue shares to share capital. Option based compensation awards are calculated using the Black-Scholes option pricing model while stock grants are valued at the fair value on the date of grant.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has granted certain employees and non-employess restricted share units (&amp;#8220;RSUs&amp;#8221;) to be settled in shares of the Corporation. The fair value of the estimated number of RSUs that will eventually vest, determined at the date of grant, is recognized as share-based compensation expense over the vesting period, with a corresponding amount recorded as equity. The fair value of the RSUs is estimated using the market value of the underlying shares as well as assumptions related to the market and non-market conditions at the grant date.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Income taxes&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Income tax expense consists of current and deferred tax. Income tax expense is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is calculated providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Deferred tax is not recognized on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable income nor loss. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;A deferred tax asset is recognized to the extent that it is probable that future taxable income will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Income (loss) per share&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Basic income or loss per share is calculated by dividing the net income or loss for the year by the weighted average number of shares outstanding during the year. Diluted income or loss per share is calculated whereby the weighted average number of shares outstanding used in the calculation of diluted income or loss per share assumes that the deemed proceeds received from the exercise of stock options, share purchase warrants and their equivalents would be used to repurchase common shares of the Company at the average market price during the year, if they are determined to have a dilutive effect.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Existing stock options and share purchase warrants have not been included in the current year computation of diluted loss per share as to do so would be anti-dilutive. For the years presented the basic and diluted losses per share are the same.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Valuation of equity units issued in private placements&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The fair value of the common shares issued in the private placements was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted bid price on the day prior to the issuance date. The balance, if any, was allocated to the attached warrants. Any fair value attributed to the warrants is recorded in reserves.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Segment reporting&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segment, has been identified as the Chief Executive Officer.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory>
  <ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Accounting pronouncements not yet effective&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The following standards and pronouncements have been issued by the IASB and have not yet been adopted by the Company.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;IFRS 9 requires financial assets to be classified into three measurement categories on initial recognition: those measured at fair value through profit and loss, those measured at fair value through other comprehensive income and those measured at amortized cost. Measurement and classification of financial assets is dependent on the entity&amp;#8217;s business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. For financial liabilities, the standard retains most of the IAS 39 requirements.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;In May 2014, the IASB issued IFRS 15 Revenue from Contracts with Customers ("IFRS 15"), which supersedes IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and SIC 31 Revenue - Barter Transactions involving Advertising Services. IFRS 15 establishes a single five-step model framework for determining the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. The standard is effective for annual periods beginning on or after January 1, 2018, with early adoption permitted.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;IFRS 16 Leases was issued in January 2016 (effective January 1, 2019) and provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company expects that these new IFRS standards will have an insignificant effect on its consolidated financial statements other than increased note disclosure.&lt;/p&gt;</ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements>
  <emx:DescriptionOfAccountingPolicyForCriticalAccountingJudgmentsAndSignificantEstimatesAndUncertaintiesExplanatoryPolicyTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Critical Accounting Judgments and Significant Estimates and Uncertainties&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The preparation of the consolidated financial statements requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported revenue and expenses during the periods presented therein. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, royalty revenues and expenses. Management bases its judgments and estimates on historical experience and on other various factors it believes to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions and conditions.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has identified the following critical accounting policies in which significant judgments, estimates and assumptions are made and where actual results may differ from these estimates under different assumptions and conditions and may materially affect financial results or the financial position reported in future periods. Further details of the nature of these assumptions and conditions may be found in the relevant notes to the consolidated financial statements.&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;
            &lt;i&gt;a)&lt;/i&gt;
          &lt;/td&gt;
          &lt;td&gt;
            &lt;i&gt;Royalty interest and related depletion&lt;/i&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;In accordance with the Company&amp;#8217;s accounting policy, royalty interests are evaluated on a periodic basis to determine whether there are any indications of impairment. If any such indication exists, a formal estimate of recoverable amount is performed and an impairment loss recognized to the extent that carrying amount exceeds recoverable amount. The recoverable amount of a royalty asset is measured at the higher of fair value less costs to sell and value in use. The determination of fair value and value in use requires management to make estimates and assumptions about expected production and sales volumes, the proportion of areas subject to royalty rights, commodity prices (considering current and historical prices, price trends and related factors), and reserves. These estimates and assumptions are subject to risk and uncertainty; hence there is a possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances, some or all of the carrying value of the assets may be further impaired or the impairment charge reduced with the impact recorded in profit or loss.&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;
            &lt;i&gt;b)&lt;/i&gt;
          &lt;/td&gt;
          &lt;td&gt;
            &lt;i&gt;Goodwill&lt;/i&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount. The assessment of the recoverable amount used in the goodwill impairment analysis is subject to similar judgments and estimates as described above for property and equipment and royalty interests.&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;
            &lt;i&gt;c)&lt;/i&gt;
          &lt;/td&gt;
          &lt;td&gt;
            &lt;i&gt;Exploration and Evaluation Assets&lt;/i&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Recorded costs of exploration and evaluation assets are not intended to reflect present or future values of exploration and evaluation assets. The recorded costs are subject to measurement uncertainty and it is reasonably possible, based on existing knowledge, that a change in future conditions could require a material change in the recognized amount.&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;
            &lt;i&gt;d)&lt;/i&gt;
          &lt;/td&gt;
          &lt;td&gt;
            &lt;i&gt;Taxation&lt;/i&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s accounting policy for taxation requires management&amp;#8217;s judgment as to the types of arrangements considered to be a tax on income in contrast to an operating cost. Judgment is also required in assessing whether deferred tax assets and certain deferred tax liabilities are recognized on the statement of financial position.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Deferred tax assets, including those arising from unused tax losses, capital losses and temporary differences, are recognized only where it is considered probable that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Deferred tax liabilities arising from temporary differences caused principally by the expected royalty revenues generated by the royalty property are recognized unless expected offsetting tax losses are sufficient to offset the taxable income and therefore, taxable income is not expected to occur in the foreseeable future. Assumptions about the generation of future taxable profits depend on management&amp;#8217;s estimates of future cash flows. These depend on estimates of future production and sales volumes, commodity prices, and reserves. Judgments are also required about the application of income tax legislation in foreign jurisdictions. These judgments and assumptions are subject to risk and uncertainty, hence there is a possibility that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets and deferred tax liabilities recognized on the statement of financial position and the amount of other tax losses and temporary differences not yet recognized. In such circumstances, some or the entire carrying amount of recognized deferred tax assets and liabilities may require adjustment, resulting in a corresponding credit or charge to profit or loss.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements include, but are not limited to, the following:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;
            &lt;i&gt;a)&lt;/i&gt;
          &lt;/td&gt;
          &lt;td&gt;
            &lt;i&gt;Functional Currencies&lt;/i&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The functional currency of each of the Company&amp;#8217;s subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions, which determined the primary economic environment.&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;b)&lt;/td&gt;
          &lt;td&gt;
            &lt;i&gt;Classification of investments as subsidiaries, joint ventures, associated company and portfolio investments&lt;/i&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Classification of investments requires judgement as to whether the Company controls, has joint control of or significant influence over the strategic financial and operating decisions relating to the activity of the investee. In assessing the level of control or influence that the Company has over an investment, management considers ownership percentages, board representation as well as other relevant provisions in shareholder agreements. If an investor holds
      20% or more of the voting power of the investee, it is presumed that the investor has significant influence, unless it can be clearly demonstrated that this is not the case. Conversely, if the investor holds less than
      20% of the voting power of the investee, it is presumed that the investor does not have significant influence, unless such influence can be clearly demonstrated.
    &lt;/p&gt;</emx:DescriptionOfAccountingPolicyForCriticalAccountingJudgmentsAndSignificantEstimatesAndUncertaintiesExplanatoryPolicyTextBlock>
  <ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;b&gt;Name&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
            &lt;b&gt;Place of Incorporation&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
            &lt;b&gt;Ownership Percentage&lt;/b&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Bullion Monarch Mining, Inc&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Utah, USA&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;EMX (USA) Services Corp.&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="25%"&gt;Nevada, USA&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Bronco Creek Exploration Inc.&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Arizona, USA&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Eurasia Madencilik Ltd. Sirketi&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="25%"&gt;Turkey&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Azur Madencilik Ltd. Sirketi&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Turkey&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Eurasian Minerals Cooperatief U.A.&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="25%"&gt;Netherlands&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Eurasian Minerals Sweden AB&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="25%"&gt;Sweden&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Viad Royalties AB&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="25%"&gt;Sweden&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Waikato Gold Limited&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;New Zealand&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%"&gt;
            100%
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-BullionMonarchMiningIncMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-EMXUSAServicesCorpMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-BroncoCreekExplorationIncMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-EurasiaMadencilikLtdSirketiMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-AzurMadencilikLtdSirketiMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-EurasianMineralsCooperatiefUAMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-EurasianMineralsSwedenABMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-ViadRoyaltiesABMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInSubsidiariesAxis-WaikatoGoldLimitedMember" unitRef="pure" decimals="2">1.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment contextRef="cx_01_January_2017_TO_31_December_2017">Property and equipment is recorded at cost. Buildings are depreciated using a 5 year straightline method. Equipment is depreciated over its estimated useful life using the declining balance method at a rate of 20% per annum. Depreciation on equipment used directly on exploration projects is included in exploration expenditures for that mineral property.</ifrs-full:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment>
  <ifrs-full:DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome contextRef="cx_01_January_2017_TO_31_December_2017">If an investor holds 20% or more of the voting power of the investee, it is presumed that the investor has significant influence, unless it can be clearly demonstrated that this is not the case. Conversely, if the investor holds less than 20% of the voting power of the investee, it is presumed that the investor does not have significant influence, unless such influence can be clearly demonstrated.</ifrs-full:DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome>
  <ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;3. INVESTMENTS&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;For the years ended December 31, 2017 and 2016, the Company had the following investments:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;Accumulated&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;December 31, 2017&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;Cost&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;unrealized loss&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;Fair value&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;Fair value through profit or loss&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                2,396,251
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (1,256,804
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,139,447
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Total Fair value through profit or loss&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                2,396,251
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (1,256,804
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                1,139,447
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;Available-for-sale&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                2,287,141
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (87,942
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                2,199,199
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total investments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                4,683,392
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (1,344,746
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                3,338,646
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;br/&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;Accumulated&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;December 31, 2016&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;Cost&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;unrealized loss&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;Fair value&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;Fair value through profit or loss&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,641,751
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (1,378,995
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                262,756
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Total Fair value through profit or loss&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                1,641,751
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (1,378,995
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                262,756
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;Available-for-sale&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                910,473
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (697,675
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                212,798
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total investments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                2,552,224
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (2,076,670
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                475,554
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017, the Company recorded a loss of $Nil
      (2016 - $697,675) related to the permanent impairment of certain available-for-sale marketable securities. The Company had sustained significant unrealized losses for which there was no expectation of reversal in the forseable future.
    &lt;/p&gt;</ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory>
  <emx:DisclosureOfDetailedInformationAboutInvestmentsExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;Accumulated&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;December 31, 2017&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;Cost&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;unrealized loss&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;Fair value&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Fair value through profit or loss&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            2,396,251
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (1,256,804
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,139,447
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Total Fair value through profit or loss&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            2,396,251
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (1,256,804
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            1,139,447
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Available-for-sale&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            2,287,141
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (87,942
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            2,199,199
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total investments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            4,683,392
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (1,344,746
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            3,338,646
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutInvestmentsExplanatoryTableTextBlock>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition contextRef="cx_31_December_2017" unitRef="cad" decimals="0">2396251</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition>
  <emx:FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss contextRef="cx_31_December_2017" unitRef="cad" decimals="0">1256804</emx:FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue contextRef="cx_31_December_2017" unitRef="cad" decimals="0">1139447</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue>
  <emx:FinancialAssetsAvailableForSaleCost contextRef="cx_31_December_2017" unitRef="cad" decimals="0">2287141</emx:FinancialAssetsAvailableForSaleCost>
  <emx:FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss contextRef="cx_31_December_2017" unitRef="cad" decimals="0">87942</emx:FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss>
  <ifrs-full:FinancialAssetsAvailableforsale contextRef="cx_31_December_2017" unitRef="cad" decimals="0">2199199</ifrs-full:FinancialAssetsAvailableforsale>
  <emx:InvestmentsAtCost contextRef="cx_31_December_2017" unitRef="cad" decimals="0">4683392</emx:InvestmentsAtCost>
  <emx:InvestmentsAccumulatedUnrealisedLoss contextRef="cx_31_December_2017" unitRef="cad" decimals="0">1344746</emx:InvestmentsAccumulatedUnrealisedLoss>
  <emx:InvestmentsFairValue contextRef="cx_31_December_2017" unitRef="cad" decimals="0">3338646</emx:InvestmentsFairValue>
  <emx:DisclosureOfDetailedInformationAboutInvestmentsExplanatoryTableTextBlock contextRef="cx_01_January_2016_TO_31_December_2016">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;Accumulated&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;December 31, 2016&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;Cost&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;unrealized loss&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;Fair value&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Fair value through profit or loss&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,641,751
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (1,378,995
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            262,756
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Total Fair value through profit or loss&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            1,641,751
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (1,378,995
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            262,756
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Available-for-sale&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Marketable securities&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            910,473
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (697,675
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            212,798
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total investments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            2,552,224
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (2,076,670
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            475,554
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutInvestmentsExplanatoryTableTextBlock>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition contextRef="cx_31_December_2016" unitRef="cad" decimals="0">1641751</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition>
  <emx:FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss contextRef="cx_31_December_2016" unitRef="cad" decimals="0">1378995</emx:FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue contextRef="cx_31_December_2016" unitRef="cad" decimals="0">262756</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue>
  <emx:FinancialAssetsAvailableForSaleCost contextRef="cx_31_December_2016" unitRef="cad" decimals="0">910473</emx:FinancialAssetsAvailableForSaleCost>
  <emx:FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss contextRef="cx_31_December_2016" unitRef="cad" decimals="0">697675</emx:FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss>
  <ifrs-full:FinancialAssetsAvailableforsale contextRef="cx_31_December_2016" unitRef="cad" decimals="0">212798</ifrs-full:FinancialAssetsAvailableforsale>
  <emx:InvestmentsAtCost contextRef="cx_31_December_2016" unitRef="cad" decimals="0">2552224</emx:InvestmentsAtCost>
  <emx:InvestmentsAccumulatedUnrealisedLoss contextRef="cx_31_December_2016" unitRef="cad" decimals="0">2076670</emx:InvestmentsAccumulatedUnrealisedLoss>
  <emx:InvestmentsFairValue contextRef="cx_31_December_2016" unitRef="cad" decimals="0">475554</emx:InvestmentsFairValue>
  <ifrs-full:GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">0</ifrs-full:GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax>
  <ifrs-full:GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">-697675</ifrs-full:GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax>
  <ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;4. RECEIVABLES&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s receivables are related to the sale of foreign subsidiaries, royalty receivable, goods and services tax and harmonized sales taxes receivable from government taxation authorities, and recovery of exploration expenditures from joint venture partner.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017 and 2016, the current receivables were as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;Category&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sale of Akarca (Note 9)&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                2,447,595
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                4,145,898
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Royalty income receivable&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                258,223
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                306,513
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Refundable taxes&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                151,163
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                142,857
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoverable exploration expenditures and advances&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                270,547
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                79,090
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                248,883
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                168,375
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                3,376,411
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                4,842,733
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Less: Long term portion&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (1,412,727
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                3,376,411
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                3,430,006
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The carrying amounts of the Company&amp;#8217;s current and non &amp;#8211; current receivables are denominated in the following currencies:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;Currency&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Canadian Dollars&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                280,925
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                48,448
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;US Dollars&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                3,040,347
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                4,744,825
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkish Lira&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                24,535
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                41,785
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Swedish Krona&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                29,575
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                6,824
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,029
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                851
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                3,376,411
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                4,842,733
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;</ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory>
  <emx:DisclosureOfDetailedInformationAboutReceivablesExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Category&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sale of Akarca (Note 9)&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            2,447,595
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            4,145,898
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Royalty income receivable&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            258,223
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            306,513
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Refundable taxes&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            151,163
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            142,857
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoverable exploration expenditures and advances&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            270,547
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            79,090
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            248,883
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            168,375
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            3,376,411
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            4,842,733
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Less: Long term portion&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (1,412,727
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            3,376,411
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            3,430,006
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutReceivablesExplanatoryTableTextBlock>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_ComponentsOfReceivablesAxis-SaleOfAkarcaMember" unitRef="cad" decimals="0">2447595</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_ComponentsOfReceivablesAxis-SaleOfAkarcaMember" unitRef="cad" decimals="0">4145898</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_ComponentsOfReceivablesAxis-RoyaltyIncomeReceivableMember" unitRef="cad" decimals="0">258223</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_ComponentsOfReceivablesAxis-RoyaltyIncomeReceivableMember" unitRef="cad" decimals="0">306513</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_ComponentsOfReceivablesAxis-RefundableTaxesMember" unitRef="cad" decimals="0">151163</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_ComponentsOfReceivablesAxis-RefundableTaxesMember" unitRef="cad" decimals="0">142857</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_ComponentsOfReceivablesAxis-RecoverableExplorationExpendituresAndAdvancesMember" unitRef="cad" decimals="0">270547</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_ComponentsOfReceivablesAxis-RecoverableExplorationExpendituresAndAdvancesMember" unitRef="cad" decimals="0">79090</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_ComponentsOfReceivablesAxis-OtherReceivablesMember" unitRef="cad" decimals="0">248883</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_ComponentsOfReceivablesAxis-OtherReceivablesMember" unitRef="cad" decimals="0">168375</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017" unitRef="cad" decimals="0">3376411</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016" unitRef="cad" decimals="0">4842733</ifrs-full:TradeAndOtherReceivables>
  <emx:DisclosureOfDetailsAboutCurrencyOfReceivablesExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Currency&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Canadian Dollars&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            280,925
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            48,448
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;US Dollars&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            3,040,347
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            4,744,825
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkish Lira&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            24,535
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            41,785
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Swedish Krona&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            29,575
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            6,824
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,029
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            851
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            3,376,411
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            4,842,733
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailsAboutCurrencyOfReceivablesExplanatoryTableTextBlock>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-CAD" unitRef="cad" decimals="0">280925</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-CAD" unitRef="cad" decimals="0">48448</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-USD" unitRef="cad" decimals="0">3040347</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-USD" unitRef="cad" decimals="0">4744825</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-TRY" unitRef="cad" decimals="0">24535</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-TRY" unitRef="cad" decimals="0">41785</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-SEK" unitRef="cad" decimals="0">29575</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-SEK" unitRef="cad" decimals="0">6824</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_AmountsDenominatedInForeignCurrenciesAxis-OtherCurrenciesMember" unitRef="cad" decimals="0">1029</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2016_AmountsDenominatedInForeignCurrenciesAxis-OtherCurrenciesMember" unitRef="cad" decimals="0">851</ifrs-full:TradeAndOtherReceivables>
  <ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;5. RESTRICTED CASH&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      At December 31, 2017, the Company classified $771,434
      (2016 - $359,172) as restricted cash. This amount is comprised of $179,502
      (2016 - $189,233) held as collateral for its corporate credit cards, $Nil
      (2016 - $65,706) held as a security deposit for the Company&amp;#8217;s Haiti exploration program, and $591,932
      (2016 &amp;#8211; $104,233) cash held by wholly-owned subsidiaries of the Company whose full amount is for use and credit to the Company&amp;#8217;s exploration venture partners in USA pursuant to expenditure requirements for ongoing option agreements.
    &lt;/p&gt;</ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2017_ComponentsOfRestrictedCashAxis-HeldAsCollateralForItsCorporateCreditCardsMember" unitRef="cad" decimals="0">179502</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2016_ComponentsOfRestrictedCashAxis-HeldAsCollateralForItsCorporateCreditCardsMember" unitRef="cad" decimals="0">189233</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2017_ComponentsOfRestrictedCashAxis-HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" unitRef="cad" decimals="0">0</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2016_ComponentsOfRestrictedCashAxis-HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" unitRef="cad" decimals="0">65706</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2017_ComponentsOfRestrictedCashAxis-HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" unitRef="cad" decimals="0">591932</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2016_ComponentsOfRestrictedCashAxis-HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" unitRef="cad" decimals="0">104233</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;6. PROPERTY AND EQUIPMENT&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017 depreciation of $10,722
      (2016 - $21,711
      ; 2015 - $34,633) has been included in exploration expenditures.
    &lt;/p&gt;
    &lt;div&gt;
                  &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &lt;b&gt;Computer&lt;/b&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &lt;b&gt;Field&lt;/b&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &lt;b&gt;Office&lt;/b&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &lt;b&gt;Vehicles&lt;/b&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &lt;b&gt;Building&lt;/b&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &lt;b&gt;Land&lt;/b&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &lt;b&gt;Total&lt;/b&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                    &lt;b&gt;Cost&lt;/b&gt;
                  &lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2014&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  91,713
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  146,041
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  6,635
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  197,200
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  572,443
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  414,526
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  1,428,558
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  7,981
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  10,224
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  1,170
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  16,105
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  6,065
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  41,545
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (2,152
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (3,059
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (165,888
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (171,099
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2015&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  99,694
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  154,113
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  4,746
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  47,417
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  578,508
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  414,526
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  1,299,004
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  10,549
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  6,450
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  16,999
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (79,630
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (2,365
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (47,417
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (129,412
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2016&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  110,243
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  80,933
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  2,381
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  578,508
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  414,526
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  1,186,591
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  20,447
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  4,337
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  24,784
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (20,756
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (20,756
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  110,243
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  60,177
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  2,381
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  598,955
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  418,863
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  1,190,619
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr&gt;
                &lt;td valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
                &lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                    &lt;b&gt;Accumulated depreciation&lt;/b&gt;
                  &lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2014&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  91,713
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  106,850
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  3,958
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  157,625
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  317,183
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  677,329
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  7,981
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  8,161
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  1,832
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  15,595
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  117,213
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  150,782
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (1,680
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (1,656
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (140,231
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (143,567
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2015&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  99,694
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  113,331
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  4,134
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  32,989
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  434,396
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  684,544
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  7,438
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  12,601
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  671
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  115,490
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  136,200
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (70,444
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (1,753
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (33,660
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (105,857
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2016&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  107,132
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  55,488
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  2,381
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  549,886
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  714,887
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  3,111
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  7,104
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  29,129
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
                  39,344
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (13,890
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  -
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  (13,890
                &lt;/td&gt;
                &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017&lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  110,243
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  48,702
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  2,381
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  579,015
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  740,341
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr&gt;
                &lt;td valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
                &lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                    &lt;b&gt;Net book value&lt;/b&gt;
                  &lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                    &lt;b&gt;As at December 31, 2016&lt;/b&gt;
                  &lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  3,111
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  25,445
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  28,622
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  414,526
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="8%"&gt;
                  471,704
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr valign="top"&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                  &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                    &lt;b&gt;As at December 31, 2017&lt;/b&gt;
                  &lt;/p&gt;
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  11,475
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  &amp;#160;
                  -
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  19,940
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  418,863
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
                &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
                  450,278
                &lt;/td&gt;
                &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;/tr&gt;
          &lt;/table&gt;
    &lt;/div&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017, the Company sold fully amortized equipment to an associated entity and recorded a gain on sale of $29,766
      and a corresponding receivable due from the investment in the associated entity. The sale value of the equipment was determined to be market value. Included in gain (loss) on acquisition and sale of exploration and evaluation assets was field equipment in Australia with a book value of $6,866.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2016, the Company sold certain foreign operations for a gain of $6,834,999. Included in this gain was property and equipment with a net book value of $23,555.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2015, the Company acquired and sold certain exploration and evaluation assets for a net gain of $5,393,305. Included in this gain was the acquisition of property and equipment with a net book value of $7,013. Also, during the year ended December 31, 2015 the Company sold property and equipment with a net book value of $21,041
      for total proceeds of $36,933
      for a net gain of $15,892, and included in exploration and evaluation expenditures is a loss on disposal of property and equipment with a net book value of $6,490.
    &lt;/p&gt;</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &lt;b&gt;Computer&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &lt;b&gt;Field&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &lt;b&gt;Office&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &lt;b&gt;Vehicles&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &lt;b&gt;Building&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &lt;b&gt;Land&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Cost&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2014&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            91,713
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            146,041
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            6,635
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            197,200
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            572,443
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            414,526
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            1,428,558
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            7,981
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            10,224
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            1,170
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            16,105
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            6,065
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            41,545
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (2,152
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (3,059
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (165,888
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (171,099
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2015&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            99,694
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            154,113
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            4,746
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            47,417
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            578,508
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            414,526
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            1,299,004
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            10,549
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            6,450
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            16,999
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (79,630
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (2,365
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (47,417
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (129,412
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2016&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            110,243
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            80,933
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            2,381
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            578,508
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            414,526
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            1,186,591
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            20,447
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            4,337
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            24,784
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (20,756
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (20,756
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            110,243
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            60,177
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            2,381
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            598,955
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            418,863
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            1,190,619
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Accumulated depreciation&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2014&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            91,713
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            106,850
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            3,958
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            157,625
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            317,183
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            677,329
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            7,981
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            8,161
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            1,832
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            15,595
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            117,213
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            150,782
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (1,680
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (1,656
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (140,231
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (143,567
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2015&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            99,694
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            113,331
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            4,134
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            32,989
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            434,396
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            684,544
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            7,438
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            12,601
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            671
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            115,490
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            136,200
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (70,444
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (1,753
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (33,660
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (105,857
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2016&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            107,132
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            55,488
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            2,381
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            549,886
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            714,887
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Additions&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            3,111
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            7,104
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            29,129
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="8%"&gt;
            39,344
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Disposals and derecognition&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (13,890
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            (13,890
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            110,243
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            48,702
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            2,381
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            579,015
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            740,341
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;Net book value&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="8%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;As at December 31, 2016&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            3,111
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            25,445
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            28,622
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            414,526
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="8%"&gt;
            471,704
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;As at December 31, 2017&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            11,475
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            19,940
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            418,863
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%"&gt;
            450,278
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory>
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  <ifrs-full:GainsOnDisposalsOfPropertyPlantAndEquipment contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">15892</ifrs-full:GainsOnDisposalsOfPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="cx_01_January_2015_TO_31_December_2015_ClassesOfPropertyPlantAndEquipmentAxis-ExplorationAndEvaluationAssetsMember" unitRef="cad" decimals="0">6490</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <emx:DisclosureOfConvertibleNotesReceivableExplanatoryTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;7. NOTES RECEIVABLE&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On February 5, 2015, the Company entered into a convertible loan agreement with IG Copper, LLC (&amp;#8220;IGC&amp;#8221;), an associated company of EMX (Note 8) allowing IGC to borrow up to a maximum of US$500,000. The loan carried an interest rate of
      8% per annum and the full amount of the principal and interest was due January 3, 2017. The full US$500,000
      had been drawn and during the year ended December 31, 2016, the Company entered into an amended and restated loan agreement with IGC such that the IGC Loan shall include any additional sums that were advanced by the Company to, or paid by the Company on behalf of IGC from time to time prior to January 3, 2017. As such, US$198,953
      of expenses paid by the Company on behalf of IGC were added to the IGC Loan.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      At any time prior to the maturity date, the Company had the right to convert all or any part of the outstanding amount of the loan into membership units at US$6.00
      per unit. If IGC completed a financing at less than US$6.00
      per unit, the conversion price will be adjusted to the price used in the financing. Each membership unit represents a single membership interest in IGC. Additionally, if subsequent to the date of the Amended Agreement, IGC completes a financing and, as part of that financing, issues warrants to purchase Units or other securities of IGC, then the Company shall be entitled, upon conversion of the IGC Loan and accrued and unpaid interest, to also receive warrants to purchase Units or other securities of IGC on the same terms as the warrants issued in such financing.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During fiscal 2016, the Company advanced an additional US$400,000. On August 15, 2016, the Company converted the full amount of the outstanding loan, US$1,184,511
      inclusive of accrued interest of US$85,558, at US$5.00
      per unit, which was the unit price of the most recently completed financing, into
      236,902
      membership units and
      236,902
      warrants of IGC.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017, the Company issued convertible notes to IGC allowing IGC to borrow up to US$750,000. The notes carried an interest rate of
      8% per annum and the full amount of the principal and interest is due
      12
      months from the date of the note. The full US$750,000
      was drawn. At any time prior to the maturity date, the Company had the right to convert all or any part of the principal sums and accrued interest into membership Units of IGC at US$5.00
      per Unit. Each membership Unit consists of one Membership Interest and one warrant to purchase one Membership Interest for US$6.00
      during a period of
      12
      months from the conversion date.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The notes receivable consisted of two components: the note receivable component and the equity conversion option. At initial recognition the fair value of the equity conversion option was estimated to be $79,220. The fair value of the note receivable component was estimated at $926,057. The note receivable component is accreted over its expected term using the effective interest method at an effective rate of approximately
      18%. For the year ended December 31, 2017, the Company recorded $51,877
      of interest income, as well as a foreign exchange loss of $38,401. On November 30, 2017, the Company converted the full amount of the outstanding loans, $1,017,540
      (US$789,967) inclusive of accrued interest of $51,877
      (US$39,967), at US$5.00
      per unit, which was the unit price of the most recently completed financing, into
      157,993
      membership units and
      157,993
      warrants of IGC.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On October 16, 2017, the Company issued notes receivable to Revelo Resources Corp., a related party by way of a common director for the principal amount of $400,000. The note was due on December 31, 2017, together with accrued interest at a rate of
      1% per month and a bonus of $20,000. As at December 31, 2017, the balance owed to the Company pursuant to the note was $429,973
      including accrued interest and bonus fee. The Company is negotiating the terms of repayment.
    &lt;/p&gt;</emx:DisclosureOfConvertibleNotesReceivableExplanatoryTextBlock>
  <emx:LoanAuthorised contextRef="cx_05_February_2015_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">500000</emx:LoanAuthorised>
  <ifrs-full:BorrowingsInterestRate contextRef="cx_05_February_2015_BorrowingsByNameAxis-IGCLoanMember" unitRef="pure" decimals="2">0.08</ifrs-full:BorrowingsInterestRate>
  <ifrs-full:ProceedsFromNoncurrentBorrowings contextRef="cx_01_January_2016_TO_31_December_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">500000</ifrs-full:ProceedsFromNoncurrentBorrowings>
  <emx:ExpensesPaidAmountAddedToLoan contextRef="cx_01_January_2016_TO_31_December_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">198953</emx:ExpensesPaidAmountAddedToLoan>
  <ifrs-full:DescriptionOfConversionOfDebtToEquity contextRef="cx_01_January_2016_TO_31_December_2016_BorrowingsByNameAxis-IGCLoanMember">At any time prior to the maturity date, the Company had the right to convert all or any part of the outstanding amount of the loan into membership units at US$6.00 per unit. If IGC completed a financing at less than US$6.00 per unit, the conversion price will be adjusted to the price used in the financing.</ifrs-full:DescriptionOfConversionOfDebtToEquity>
  <emx:AdditionalProceedsFromNonCurrentBorrowings contextRef="cx_01_January_2016_TO_31_December_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">400000</emx:AdditionalProceedsFromNonCurrentBorrowings>
  <emx:AmountConverted contextRef="cx_01_August_2016_TO_15_August_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">1184511</emx:AmountConverted>
  <emx:AccruedInterestConverted contextRef="cx_01_August_2016_TO_15_August_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">85558</emx:AccruedInterestConverted>
  <emx:AmountConvertedConversionPrice contextRef="cx_01_August_2016_TO_15_August_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="2">5.00</emx:AmountConvertedConversionPrice>
  <emx:AmountConvertedUnitsGranted contextRef="cx_01_August_2016_TO_15_August_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="pure" decimals="0">236902</emx:AmountConvertedUnitsGranted>
  <emx:AmountConvertedWarrantsGranted contextRef="cx_01_August_2016_TO_15_August_2016_BorrowingsByNameAxis-IGCLoanMember" unitRef="pure" decimals="0">236902</emx:AmountConvertedWarrantsGranted>
  <emx:LoanAuthorised contextRef="cx_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">750000</emx:LoanAuthorised>
  <ifrs-full:BorrowingsInterestRate contextRef="cx_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="pure" decimals="2">0.08</ifrs-full:BorrowingsInterestRate>
  <ifrs-full:ProceedsFromNoncurrentBorrowings contextRef="cx_01_January_2017_TO_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">750000</ifrs-full:ProceedsFromNoncurrentBorrowings>
  <ifrs-full:DescriptionOfConversionOfDebtToEquity contextRef="cx_01_January_2017_TO_31_December_2017_BorrowingsByNameAxis-IGCLoanMember">At any time prior to the maturity date, the Company had the right to convert all or any part of the principal sums and accrued interest into membership Units of IGC at US$5.00 per Unit.</ifrs-full:DescriptionOfConversionOfDebtToEquity>
  <emx:WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="2">6.00</emx:WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement>
  <emx:FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable contextRef="cx_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="cad" decimals="0">79220</emx:FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable>
  <emx:FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable contextRef="cx_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="cad" decimals="0">926057</emx:FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable>
  <emx:EffectiveInterestMethodEffectiveRate contextRef="cx_01_January_2017_TO_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="pure" decimals="2">0.18</emx:EffectiveInterestMethodEffectiveRate>
  <ifrs-full:InterestRevenueCalculatedUsingEffectiveInterestMethod contextRef="cx_01_January_2017_TO_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="cad" decimals="0">51877</ifrs-full:InterestRevenueCalculatedUsingEffectiveInterestMethod>
  <ifrs-full:NetForeignExchangeLoss contextRef="cx_01_January_2017_TO_31_December_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="cad" decimals="0">38401</ifrs-full:NetForeignExchangeLoss>
  <emx:AmountConverted contextRef="cx_01_November_2017_TO_30_November_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="cad" decimals="0">1017540</emx:AmountConverted>
  <emx:AmountConverted contextRef="cx_01_November_2017_TO_30_November_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">789967</emx:AmountConverted>
  <emx:AccruedInterestConverted contextRef="cx_01_November_2017_TO_30_November_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="cad" decimals="0">51877</emx:AccruedInterestConverted>
  <emx:AccruedInterestConverted contextRef="cx_01_November_2017_TO_30_November_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="0">39967</emx:AccruedInterestConverted>
  <emx:AmountConvertedConversionPrice contextRef="cx_01_November_2017_TO_30_November_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="usd" decimals="2">5.00</emx:AmountConvertedConversionPrice>
  <emx:AmountConvertedUnitsGranted contextRef="cx_01_November_2017_TO_30_November_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="pure" decimals="0">157993</emx:AmountConvertedUnitsGranted>
  <emx:AmountConvertedWarrantsGranted contextRef="cx_01_November_2017_TO_30_November_2017_BorrowingsByNameAxis-IGCLoanMember" unitRef="pure" decimals="0">157993</emx:AmountConvertedWarrantsGranted>
  <ifrs-full:ProceedsFromNoncurrentBorrowings contextRef="cx_01_October_2017_TO_16_October_2017_BorrowingsByNameAxis-NotesReceivableToReveloResourcesCorpMember" unitRef="cad" decimals="0">400000</ifrs-full:ProceedsFromNoncurrentBorrowings>
  <ifrs-full:BorrowingsInterestRate contextRef="cx_16_October_2017_BorrowingsByNameAxis-NotesReceivableToReveloResourcesCorpMember" unitRef="pure" decimals="2">0.01</ifrs-full:BorrowingsInterestRate>
  <emx:BonusFromNotesReceivableIssued contextRef="cx_01_October_2017_TO_16_October_2017_BorrowingsByNameAxis-NotesReceivableToReveloResourcesCorpMember" unitRef="cad" decimals="0">20000</emx:BonusFromNotesReceivableIssued>
  <ifrs-full:NoncurrentLoansAndReceivables contextRef="cx_31_December_2017_BorrowingsByNameAxis-NotesReceivableToReveloResourcesCorpMember" unitRef="cad" decimals="0">429973</ifrs-full:NoncurrentLoansAndReceivables>
  <ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;8. INVESTMENTS IN ASSOCIATED COMPANIES&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company has a
      41% (2016 &amp;#8211;
      39%; 2015 &amp;#8211;
      42%) equity investment in IGC. At December 31, 2017, including the conversion of convertible notes, cash purchases of shares, and interest on any balances due from IGC, the Company has invested an aggregate of US$11,354,977
      towards its investment (2016 - US$8,967,010
      ; 2015 - US$7,782,500). At December 31, 2017, the Company&amp;#8217;s investment including dilution gains, less its share of accumulated equity losses was $7,578,989
      (2016 - $4,992,823). The Company&amp;#8217;s share of the net loss for the year ended December 31, 2017 was $994,548
      (2016 - $1,295,568
      ; 2015 - $1,062,146).
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has a minority position on the Board of IGC, and does not control operational decisions. The Company&amp;#8217;s judgment is that it has significant influence, but not control and accordingly equity accounting is appropriate.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017, associated companies&amp;#8217; aggregate assets, aggregate liabilities and net loss for the year ended are as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;December 31, 2017&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;IGC&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate assets&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                6,127,735
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate liabilities&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                (1,108,694
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Loss for the year&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (2,713,490
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's ownership %&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                41%
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's share of loss for the year&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (994,548
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2016, associated companies&amp;#8217; aggregate assets, aggregate liabilities and net loss for the year are as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;December 31, 2016&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;IGC&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate assets&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                6,884,378
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate liabilities&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                (1,471,260
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Loss for the year&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (3,216,120
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's ownership %&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                39%
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's share of loss for the year&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (1,295,568
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017, the Company recognized a dilution gain of $503,543
      (2016 - $982,634) related to the Company&amp;#8217;s change in ownership percentage as a result of IGC&amp;#8217;s share issuance for cash proceeds and loan conversions.
    &lt;/p&gt;</ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory>
  <emx:DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;December 31, 2017&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;IGC&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate assets&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            6,127,735
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate liabilities&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            (1,108,694
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Loss for the year&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (2,713,490
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's ownership %&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            41%
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's share of loss for the year&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (994,548
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock>
  <ifrs-full:Assets contextRef="cx_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">6127735</ifrs-full:Assets>
  <ifrs-full:Liabilities contextRef="cx_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">1108694</ifrs-full:Liabilities>
  <ifrs-full:ProfitLoss contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">-2713490</ifrs-full:ProfitLoss>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="pure" decimals="2">0.41</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">-994548</ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <emx:DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock contextRef="cx_01_January_2016_TO_31_December_2016">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;December 31, 2016&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;IGC&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate assets&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            6,884,378
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Aggregate liabilities&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            (1,471,260
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Loss for the year&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (3,216,120
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's ownership %&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            39%
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;The Company's share of loss for the year&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (1,295,568
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock>
  <ifrs-full:Assets contextRef="cx_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">6884378</ifrs-full:Assets>
  <ifrs-full:Liabilities contextRef="cx_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">1471260</ifrs-full:Liabilities>
  <ifrs-full:ProfitLoss contextRef="cx_01_January_2016_TO_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">-3216120</ifrs-full:ProfitLoss>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="cx_01_January_2016_TO_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="pure" decimals="2">0.39</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="cx_01_January_2016_TO_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">-1295568</ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="cx_01_January_2015_TO_31_December_2015_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="pure" decimals="2">0.42</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:InvestmentAccountedForUsingEquityMethod contextRef="cx_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">11354977</ifrs-full:InvestmentAccountedForUsingEquityMethod>
  <ifrs-full:InvestmentAccountedForUsingEquityMethod contextRef="cx_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">8967010</ifrs-full:InvestmentAccountedForUsingEquityMethod>
  <ifrs-full:InvestmentAccountedForUsingEquityMethod contextRef="cx_31_December_2015_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">7782500</ifrs-full:InvestmentAccountedForUsingEquityMethod>
  <ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod contextRef="cx_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">7578989</ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod>
  <ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod contextRef="cx_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">4992823</ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="cx_01_January_2015_TO_31_December_2015_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">-1062146</ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <emx:DilutionGainInAssociatedCompanies contextRef="cx_01_January_2017_TO_31_December_2017_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">503543</emx:DilutionGainInAssociatedCompanies>
  <emx:DilutionGainInAssociatedCompanies contextRef="cx_01_January_2016_TO_31_December_2016_SignificantInvestmentsInAssociatesAxis-IGCopperLLCMember" unitRef="cad" decimals="0">982634</emx:DilutionGainInAssociatedCompanies>
  <ifrs-full:DisclosureOfExplorationAndEvaluationAssetsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;9. EXPLORATION AND EVALUATION ASSETS&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Acquisition Costs&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;At December 31, 2017 and 2016, the Company has capitalized the following acquisition costs on its exploration and evaluation assets:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;b&gt;Region&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="51%"&gt;
                &lt;b&gt;Properties&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Asia Pacific&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Various&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                81,124
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Sweden&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="51%"&gt;Various&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                16,671
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                16,671
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Viad royalties&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                421,084
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                421,084
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Turkey&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="51%"&gt;Alankoy&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                153,960
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                153,960
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Sisorta&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="51%"&gt;Trab&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                78,587
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                78,587
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;United States&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Superior West, Arizona&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                867,096
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                1,000,479
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;of America&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="51%"&gt;Yerington, Nevada&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                304,568
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                393,095
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="51%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,841,966
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                2,145,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017, the Company received a $133,383
      (US$100,000) annual option payment related to an exploration and option to purchase agreement for the Superior West project with Kennecott Exploration Company (&amp;#8220;Kennecott&amp;#8221;). The Company also received the annual option payment related to an option agreement with Mason Resources Corp (&amp;#8220;Mason&amp;#8221;) for $88,527
      (US$75,000) and applied against the Yerington project. Also during the year ended December 31, 2017, the Company sold the wholly owned Australian subsidiary that held the Koonenberry licences in Australia. As part of the sale, the Company transferred the ownership of the Koonenberry property which had a capitalized cost of $81,124.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended Dececmber 31, 2016, the Company received a $129,820
      (US$100,000) annual option payment related to an exploration and option to purchase agreement for the Superior West project with Kennecott Exploration Company (&amp;#8220;Kennecott&amp;#8221;) applied against the Superior West capitalized costs. Also during the year ended December 31, 2016, the Company sold its Sisorta project in Turkey and all capitalized costs were recovered.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2015 the Company wrote-off $56,085
      of capitalized exploration costs related to the termination of a
      1% net smelter returns royalty (&amp;#8220;NSR&amp;#8221;) agreement on one of its interests in Haiti.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;Sweden and Norway Licenses&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company holds certain exploration permits in Sweden and Norway. There are no specific spending commitments on the Swedish licenses and permits.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;On February 14, 2017, the Company completed an agreement to sell certain wholly owned subsidiaries in Sweden previously announced in November 2016, to Boreal Metals Corp. (&amp;#8220;BMC&amp;#8221;)(TSX-V: BMX), a British Columbia corporation. Pursuant to the agreement BMC acquired two wholly-owned subsidiaries of the Company that control the Gumsberg and Adak exploration assets in Sweden and the Tynset and Burfjord assets in Norway. In exchange for the transfer of its wholly-owned subsidiary Iekelvare AB, which owns the Gumsberg and Adak properties, and its entire interest in its wholly-owned subsidiary EMX Exploration Scandinavia AB, which owns the Tynset and Burfjord properties BMC must complete the following:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              BMC issued
              1,713,390
              common shares to EMX representing a
              19.9% equity ownership in BMC. BMC had thecontinuing obligation to issue additional shares of BMC to EMX to maintain its
              19.9% interest in Boreal, at no additional cost to EMX, until BMC raised CAD $5,000,000
              in equity (completed). EMX now has the right to participate pro-rata in future financings at its own cost to maintain its
              19.9% interest in Boreal.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              BMC also agreed to reimburse SEK
              550,000
              ($81,996, received) to the Company for license fees related to the Adak license.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              As part of the agreement, EMX will receive an uncapped
              3% NSR royalty on each of the properties. Within five years of the closing date, BMC has the right to buy down up to
              1% of the royalty on any given project by paying EMX US$2,500,000
              in cash and shares of BMC. Such buy down is project specific.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Additionally, EMX will receive annual advance royalty (&amp;#8220;AAR&amp;#8221;) payments of US$20,000
              for each of the properties commencing on the second anniversary of the closing, with each AAR payment increasing by US$5,000
              per year until reaching US$60,000
              per year, except that BMC may forgo AAR payments on two of the four Properties in years two and three.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              EMX will also receive a
              0.5% NSR royalty on any new mineral exploration projects generated by BMC in Sweden or Norway, excluding projects acquired from a third party containing a mineral resource or reserve or an existing mining operation. These royalties are not capped and not subject to a buy down.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;As part of the agreement, EMX also has the right to nominate one seat on the Board of Directors of BMC.&lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Pursuant to the sale agreement, the Company received
      1,713,390
      shares of BMC on signing and valued the shares received at $0.05
      per share or $85,670, and paid a US$12,000
      ($15,862) finders fee. Subsequent to signing, pursuant to equity and private placements completed by BMC, BMC issued EMX a further
      7,492,492
      shares to EMX valued at $1,290,998. Pursuant to the sale agreement, EMX has recorded a total gain on sale of $1,393,224. As at December 31, 2017, EMX held
      9,205,882
      shares of BMC representing approximately a
      17.8% interest.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In December 2017, the Company executed an option agreement for the sale of the Sl&amp;#228;ttberg licenses in Sweden to Sienna Resources Inc. (&amp;#8220;Sienna&amp;#8221;) (TSX-V: SIE). As part of the agreement, Sienna can earn a
      100% interest in the project during a one-year option period by completing the following:
    &lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              On signing the agreement, Sienna issued EMX
              3,000,000
              common shares of Sienna stock valued at $750,000
              ;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              As a condition to the exercise of the option, Sienna must undertake work commitments of at least $500,000
              on the project, including drilling of at least
              750
              meters.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Upon exercise of the option, issue to EMX an additional
              3,000,000
              common shares of Sienna, and EMX will receive a
              3% NSR royalty on the project.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              After exercise of the option, Sienna will use commercially reasonable efforts to raise $3,000,000
              for development of the project and other activities. Once Sienna has raised that amount, Sienna will issue an additional
              4,000,000
              common shares to EMX. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its interest in Sienna.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td&gt;&amp;#8226;&lt;/td&gt;
          &lt;td width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Within six years of the execution of the agreement, Sienna may purchase
              0.5% of the NSR royalty for $1,500,000,
              &lt;br/&gt;
              leaving EMX with a
              2.5% NSR royalty.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;United States&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Aguila de Cobre, Arizona&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On July 30, 2015, the Company, through its wholly-owned subsidiary Bronco Creek Exploration Inc. (&amp;#8220;BCE&amp;#8221;), entered into an option agreement to sell the Aguila de Cobre property for a combination of cash payments and work commitments. The agreement grants Kennecott Exploration Company (&amp;#8220;KEX&amp;#8221;), part of the Rio Tinto Group, the option to acquire a
      100% interest in the property.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During April 2016, KEX terminated its option to aquire the interest in the property.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Cathedral Well, Nevada&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In June 2014, the Company signed an exploration and option agreement through its wholly-owned subsidiary BCE, with Ely Gold and Minerals Inc. (&amp;#8220;Ely Gold&amp;#8221;) (TSX Venture: ELY) to earn a
      100% interest in the Cathedral Well project by paying EMX a total of US$100,000
      over the next three years after which the Company will retain a
      2.5% NSR royalty, inclusive of an underlying
      0.5% NSR royalty. Ely Gold completed their earn-in for the property in November of 2016 through a trade with EMX, whereby a subsidiary of Ely Gold executed a quit claim deed for certain mining claims adjacent to EMX&amp;#8217;s Spring Canyon property in Nevada in lieu of its last US$25,000
      option payment. In December 2016, Ely Gold announced it had optioned the property to Colorado Resources Ltd. (TSX-V: CXO).
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Hardshell Skarn, Arizona&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company holds a
      100% interest in the Hardshell Skarn property comprised of certain unpatented federal lode mining claims.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In October 2015, the Company signed an exploration and option agreement through its wholly-owned subsidiary FOBC LLC, with Arizona Mining Inc, to earn a
      100% interest in the project by paying the Company a total of US$85,000
      as follows: US$25,000
      (received) upon execution of the agreement and US$60,000
      (received) over the next three years. In 2017, Arizona Mining earned a
      100% interest in the project under the agreement by accelerating and completing the required US$85,000
      in cash payments. The Company now retains a
      2% NSR. After exercise of the option, annual advanced royalty payments of US$5,000
      commence on the first anniversary of the exercise of the option. After commencement of commercial production, the Company is due payments of US$5,000
      or the royalty coming due that year, whichever is greater.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Greenwood Peak, Arizona&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In November 2017, EMX executed an Option Agreement with a wholly owned subsidiary of Antofagasta plc (&amp;#8220;Antofagasta&amp;#8221;) (LSE: Anto) wherby Antofagasta can earn a
      100% interest in the Greenwood Peak project by: a) reimbursing EMX&amp;#8217;s acquisition costs and making annual option payments, together totaling US$630,000
      ($30,000
      received), and b) completing US$4,500,000
      in work expenditures within the five year option period. Upon exercise of the option EMX will retain a
      2% NSR royalty on the project, which is not capped and not subject to buy-down. After exercise of the option, annual advance royalty and milestone payments will be due to EMX.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Copper Springs, Copper King, and Red Top Properties, Arizona&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In September 2013, the Company, through its wholly owned subsidiary BCE, entered into option agreements to sell the Copper Springs, Copper King, and Red Top projects for a combination of cash payments, work commitments, and common shares. The agreements grant Desert Star Resources Ltd. (&amp;#8220;Desert Star&amp;#8221;), a TSX-V listed company, the option to acquire a
      100% interest in each of the projects.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Desert Star delivered
      1,050,000
      common shares of Desert Star and is required to incur a minimum of US$5,000,000
      in exploration expenditures by the seventh anniversary of the signing date, and making additional milestone payments to the Company.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;u&gt;Copper Springs, Arizona&lt;/u&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In January, 2015, Desert Star terminated its interest in the Copper Springs project and the Company regained
      100% control of the project.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On February 25, 2017, through BCE, the Company executed an Option Agreement for Copper Springs with Anglo American Exploration (USA), Inc. (&amp;#8220;Anglo American&amp;#8221;). Anglo American can earn a
      100% interest in the project by: a) reimbursing 2016 holding and permitting costs and making annual option payments, together totaling US$447,000
      ($82,000
      received), and b) completing US$5,000,000
      in exploration expenditures before the fifth anniversary of the agreement. Upon exercise of the option, Anglo American will pay EMX an additional US$110,000
      and EMX will retain a
      2% NSR royalty on the project. The royalty is not capped or purchasable, except over two parcels of Arizona State Land where Anglo American can buy a
      0.5% NSR royalty from EMX for US$2,000,000. After exercise of the option, annual advanced minimum royalty (&amp;#8220;AMR&amp;#8221;) payments and milestone payments will be due to EMX.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;u&gt;Copper King, Arizona&lt;/u&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On September 1, 2014, and July 21, 2015 the Copper King agreement was amended, extending the 2
      &lt;sup&gt;nd&lt;/sup&gt;
      anniversary payments and work commitments into 2016. On March 1, 2016, Desert Star terminated its option on the Copper King project. In October 2016, the Company, through BCE, entered into an option agreement to sell the Copper King property for a combination of cash payments and work commitments. The agreement grants Kennecott the option to acquire a
      100% interest in the property.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Pursuant to the Agreement, Kennecott can earn a
      100% interest in the Project by (a) reimbursing the 2016 holding costs and making option payments, together totaling US$504,314
      (US$79,314
      received), and (b) completing US$4,000,000
      in exploration expenditures before the fifth anniversary of the Agreement Upon exercise of the option EMX will retain a
      2% NSR royalty on the project which is not capped or purchasable.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;After exercise of the option, AMR payments and milestone payments will be due to EMX.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;u&gt;Red Top, Arizona&lt;/u&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On September 1, 2014, and July 31, 2015 the Red Top agreement was amended extending the 2
      &lt;sup&gt;nd&lt;/sup&gt;
      anniversary payments and work commitments into 2016. In January 2017 Desert Star terminated its option on the Red Top project and returned
      100% control of the project to BCE.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Buckhorn Creek and Frazier Creek Properties, Arizona and Nevada&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In October 2013, the Company, through its wholly owned subsidiary BCE, entered into option agreements to sell the Frazier Canyon and Buckhorn Creek projects for a combination of cash payments, work commitments, and common shares. The agreements granted Savant Explorations Ltd. (&amp;#8220;Savant&amp;#8221;), a TSX-V listed company, the option to acquire a
      100% interest in each of the projects.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On April 27, 2015, Savant terminated its option to acquire the Frazier Creek property and the Company relinquished all mineral rights on the Frazier Creek property. On September 24, 2015, Savant terminated its interest in the Buckhorn Creek property with the Company retaining
      100% ownership of the property.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Superior West, Arizona&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company holds a
      100% interest in the mineral rights comprised of certain federal unpatented mining claims, located on Tonto National Forest lands and unpatented federal mining claims under option. The Company also may earn a
      100% interest in additional adjacent claims under option from a third party for cash payments totaling US$1,000,000
      on or before January 2017 and subject to a
      2% NSR Royalty,
      1% of which may be purchased for US$2,000,000
      in
      0.5% increments. The Company exercised the option in December 2016, and retains a
      100% interest in the project.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On May 4, 2015, the Company entered into an exploration and option to purchase agreement, through its wholly owned subsidiary BCE, for the Superior West project with Kennecott. Pursuant to the agreement, Kennecott can earn a
      100% interest in the project by making cash payment upon execution of the agreement of US$149,187
      (received), and thereafter completing US$5,500,000
      in exploration expenditures and paying annual option payments totaling US$1,000,000
      (US $100,000
      received in March 2016, and US$100,000
      received in January 2017 ) before the fifth anniversary of the agreement. For the execution payment, US$50,000
      ($52,500) was applied against the Superior West capitalized costs, and the balance of US$99,187
      was a direct reimbursement to the Company for holding costs to maintain the property in good standing. Upon exercise of the option EMX will retain a
      2% NSR royalty on the properties. Kennecott has the right to buy down
      1% of the NSR royalty from underlying claim holders by payment of US$4,000,000
      to EMX.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Kennecott has maintained or exceeded any minimum requirements for expenditures on the project and the agreement remains in good standing.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Mineral Hill, Wyoming&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In October 2016, the Company, through its wholly-owned subsidiary BCE, entered into an option agreement with Coeur Explorations, Inc., a subsidiary of Coeur Mining, Inc. (NYSE: CDE) (&amp;#8220;Coeur&amp;#8221;) to acquire a
      100% interest in the property. The Company&amp;#8217;s Mineral Hill project is held under a pooling agreement with a private group, Mineral Hill L.P. (&amp;#8220;MHL&amp;#8221;), with all proceeds split 50:50, except for the sale of surface rights associated with several patented mining claims.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Pursuant to the Agreement, Coeur may acquire a
      100% interest in the Property by a) making yearly option payments, beginning upon execution of the Agreement, totaling US$435,000
      (US$10,000
      received upon execution, US$15,000
      received in October 2017), b) making exploration expenditures totaling US$1,550,000
      on or before the fifth anniversary of the agreement, and c) paying US$250,000
      upon exercise of the option.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Upon exercise of the option, EMX and MHL will retain a
      4% NSR royalty, of which Coeur may purchase up to
      1.5% of the NSR royalty if, within sixty days after the completion of a PEA, Coeur purchases the first
      0.5% for US$1,000,000. Coeur may purchase an additional
      0.5% or
      1% of the NSR royalty at any time thereafter for US$2,000,000
      per
      0.5% interest (maximum total buy down of
      1.5%), with EMX and MHL retaining a
      2.5% interest.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      After the option exercise, EMX and MHL will receive annual advance minimum royalties of US$150,000
      and, upon completion of a feasibility study, a milestone payment of US$1,000,000.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Ophir, Utah&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In October 2016, the Company completed the sale of five patented mining claims comprising its Ophir property in Utah, through its wholly owned subsidiary Bullion Monarch Mining Inc., to Kennecott. The terms of the sale include a cash payment of US$75,000
      (received) to EMX at closing, with the Company retaining a
      2% NSR royalty on the property.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Yerington West, Nevada&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Yerington West property is comprised of certain unpatented federal mining claims located on lands administered by the BLM. Yerington West is under an Option Agreement, dated September 24, 2009 originally with Entr&amp;#233;e Gold Inc. ("Entr&amp;#233;e"), and now is with Mason Resources Corp. ("Mason") (TSX: MNR) as a result of a 2017 "spin out" whereby Entr&amp;#233;e transferred the Ann Mason project, which includes EMX's Yerington West property, into Mason, a newly incorporated company.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Under the agreement, Mason can earn up to an
      80% interest in the project by a) incurring expenditures of $1,000,000, making cash payments of $140,000, and issuing
      85,000
      shares within three years (completed by Entr&amp;#233;e), b) making aggregate advance royalty payments totaling $375,000, being US$50,000
      per year between the fifth and seventh anniversaries (received), and $75,000
      per year between the eighth and tenth anniversaries ($75,000
      received during the year ended Dececmber
      31, 2017); and (c) delivering a feasibility study before the tenth anniversary of the agreement. Under the agreement, once earn-in has been completed, EMX can convert its interest to a
      2.5% NSR. Mason has the option to buy down
      1.5% of the NSR for US$4,500,000
      million.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Various&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company holds interests acquired by staking in several jurisdictions including Utah, Nevada, Arizona, Colorado and Wyoming.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;Turkey&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company has acquired numerous exploration licenses in Turkey for which there are no specific spending commitments.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Akarca Property&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On June 20, 2013, the Company entered into an option agreement to sell its
      100% interest in AES Madencilik A.S. ("AES Turkey"), a Turkish corporation that controls the Akarca property, for a combination of cash payments, gold bullion, work commitments, and a royalty interest to &amp;#199;olakoglu, a privately owned Turkish company.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Colakoglu paid $350,000
      and completed drilling requirements on the project and was required to pay additional amounts to earn its interest. In October, 2015, &amp;#199;olakoglu advised EMX that it decided to forego exercising the option and the Company regained
      100% control of the Akarca project.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Effective July 29, 2016, the Company entered into a share purchase agreement for the sale of AES Madencilik A.S. (&amp;#8220;AES&amp;#8221;), the wholly-owned EMX subsidiary that controls the Akarca gold-silver project in western Turkey, to &amp;#199;iftay in&amp;#65533;?aat Taahh&amp;#252;t veTicaret A.&amp;#65533;?. ("&amp;#199;iftay"), a privately owned Turkish company.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The terms of the sale provide payments to EMX as summarized below (gold payments can be made as gold bullion or the cash equivalent):&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              US$2,000,000
              cash payment ($2,630,760) to EMX upon closing of the sale (received);
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              500
              ounces of gold every six months commencing February 2, 2017 up to a cumulative total of
              7,000
              ounces of gold. Received US$601,825
              in February, 2017 and US$634,825
              in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of
              6,000
              ounces of gold (or the cash equivalent) to be paid to EMX.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              7,000
              ounces of gold within
              30
              days after the commencement of commercial production from the Property provided that prior gold payments will be credited against this payment;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              250
              ounces of gold upon production of
              100,000
              ounces of gold from the Property;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              250
              ounces of gold upon production of an aggregate of
              500,000
              ounces of gold from the Property;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;A sliding-scale royalty in the amount of the following percentages of production returns after certain deductions (&amp;#8220;Royalty&amp;#8221;) for ore mined from the Property:&lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;br/&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="15%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;o&lt;/td&gt;
          &lt;td align="left" width="79%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              For gold production:
              1.0% on the first
              100,000
              ounces of gold;
              2.0% on the next
              400,000
              ounces of gold;
              3.0% on all gold production in excess of
              500,000
              ounces produced from the Property, and;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="15%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;o&lt;/td&gt;
          &lt;td align="left" width="79%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              For all production other than gold production:
              3.0%.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;br/&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left"&gt;&amp;#8226;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;The Royalty is uncapped and cannot be bought out or reduced.&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In addition, &amp;#199;iftay must conduct a drilling program of at least
      3,000
      meters on the Property during each 12-month period commencing on August 5, 2016 until commencement of commercial production.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Pursuant to the agreement, &amp;#199;iftay has guaranteed the future payments of
      2,500
      ounces of gold, or cash equivalent. As at December 31, 2017, the Company has recorded a receivable of $2,447,595
      (including $167,718
      of accreted interest income) related to the guaranteed payments which was estimated using a valuation model that requires significant judgments and assumptions, including to future metal prices and discount rates. Included in the calculation for the year ended December 31, 2017, the Company used a long term gold price of US$1,332
      per ounce and a discount rate of
      6%.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The sale of AES resulted in a gain of $6,683,560, resulting from proceeds of $6,737,452, less the net assets of AES of $53,892
      which is included in the gain on acquisition and sale of exploration and evaluation assets for the year ended December 31, 2016.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Subsequent to December 31, 2017, EMX received a payment of US$665,525
      on February 5, 2018, as the cash equivalent to the third
      500
      ounce gold bullion payment to be made under the terms of the agreement.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Sisorta Property&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On April 2, 2012, the Company and Chesser Resources Ltd (&amp;#8220;Chesser&amp;#8221;) executed an agreement to sell the Sisorta property to &amp;#199;olakoglu Ticari Yatrim A.S. (&amp;#8220;&amp;#199;olakoglu&amp;#8221;) for a combination of option payments and expenditure requirements. &amp;#199;olakoglu terminated the option effective March 21, 2013, leaving Chesser and the Company with a
      51% and
      49% interest in the Sisorta project, respectively. Until March 2015, the Company accounted for its
      49% interest as an Investment in Associated Company and had written down the value of the investment to $Nil
      due to the pick-up of its share of net losses in the associated company. On March 20, 2015, Chesser and the Company signed definitive agreements pursuant to which the Company acquired all of Chesser&amp;#8217;s interest in the Sisorta project for a total purchase price of $156,800
      (AUD$162,092). As a result of the purchase, the Company recorded a gain on acquisition of $26,407, and $131,440
      of the purchase price was allocated to exploration and evaluation assets.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Effective July 1, 2016, the Company entered into a share purchase agreement for the sale of EBX Madencilik A.S. (&amp;#8220;EBX&amp;#8221;), a wholly-owned subsidiary that controlled the Sisorta gold property in Turkey, to Bahar Madencilik Sinayi ve Ticaret Ltd Sti ("Bahar"), a privately owned Turkish company.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The agreement provides for Bahar's staged payments to EMX as summarized below:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              US$250,000
              cash payment ($332,969) to EMX upon closing of the sale (received).
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Annual cash payments of US$125,000
              (received) beginning on July 1, 2017 until commencement of commercial production from the Property.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              3.5% of production returns after certain deductions (&amp;#8220;NSR Payment") for ore mined from the Property that is processed on-site (increased to
              5% if the ore is processed off-site).
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              The Advance Cash Payments will be credited at a rate of
              80% against the NSR Payment payable after commercial production commences.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;The NSR Payment is uncapped and cannot be bought out or reduced.&lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Pursuant to the sale of Sisorta, during the year ended December 31, 2016, the Company paid a finders fee of US$48,740
      ($63,549) and recorded a gain on the sale of EBX of $86,041
      which is included in the gain (loss) on acquisition and sale of exploration and evaluation assets. The future annual cash payments are not accrued as there is no guarantee of payment, and the shares of EBX could be returned if the payments are not made.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;i&gt;Balya Property&lt;/i&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      EMX holds an uncapped
      4% NSR royalty that it retained from the sale of the property to Dedeman Madencilik San ve Tic. A.S. ("Dedeman"), a privately owned Turkish company, in 2006. The Balya royalty due to EMX from 2016 production totaled US$154,299, from which Dedeman's earlier advance royalty payment of US$100,000
      was credited, resulting in an adjusted payment to EMX of US$54,299. Including applicable taxes in Turkey, $40,217
      (US$30,762) has been included in royalty income. The AMR&amp;#8217;s and net royalty payments have been included in Royalty income.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Golcuk Transfer and Royalty Agreement&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On July 17, 2012, amended on January 29, 2013, and amended again by a second amending agreement dated as of November 8, 2016, the Company entered into an agreement with Pasinex Resources Limited (&amp;#8220;PRL&amp;#8221;) to transfer a
      100% interest in the Golcuk property in exchange for PRL issuing shares to the Company as follows,
    &lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              500,000
              PRL shares on the initial issuance date (received during the year ended December 31, 2013 and valued at $27,500
              or $0.055
              per share);
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              An additional
              500,000
              PRL shares on or before the first anniversary of the initial issuance date (received during the year ended December 31, 2014 and valued at $25,000
              or $0.05
              per share);
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              An additional
              1,000,000
              PRL shares on or before the second anniversary of the initial issuance date (received in February 2015 and valued at $115,000
              or $0.115
              per share); and,
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              An additional
              1,000,000
              PRL Shares on or before the third anniversary of the initial issuance date (received in February 2016 and valued at $55,000
              or $0.055
              per share).
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In addition to the transfer of shares, Pasinex will then pay the Company a
      2.9% NSR royalty from production. Pasinex may pay the first minimum royalty payment by delivering
      664,483
      common shares in the capital of PRL to the Royalty Holder on or before November 30, 2016 (received valued at $79,738). Pasinex has the option of purchasing
      0.9% of the royalty for US$1,000,000
      prior to the
      6
      &lt;sup&gt;th&lt;/sup&gt;
      anniversary of the effective date of the agreement. In 2017 EMX received
      224,150
      shares of Pasinex and US$49,204
      in cash for the advance royalty payment due in September, 2017.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Tumad Agreement - Trab-23&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Trab-23 property is located in northeast Turkey. In February 2013 Tumad Madencilik San.Ve TIC, A.S. (&amp;#8220;Tumad&amp;#8221;), executed an option agreement (the &amp;#8220;Trab-23 Agreement&amp;#8221;) to acquire Trab-23 from the Company. The Trab-23 Agreement provides an upfront transfer of the two licenses to Tumad, in-ground spending requirements, a revenue stream of annual earn-in and pre-production payments, and a revenue stream based upon production. The Trab-23 Agreement is contingent upon approval by Turkey&amp;#8217;s General Directorate of Mining Affairs ("MIGEM") to combine the two licenses into a single exploitation license. This license combination and transfer occurred on September 11, 2014 (the &amp;#8220;Transfer Date&amp;#8221;). Provided that Tumad has made the payments and performed the work described in the Trab-23 Agreement, on or before September 11, 2017 Tumad may exercise its option to retain the property, and after such election, shall pay annual minimum royalties of US$100,000
      commencing upon the first anniversary of such exercise. Upon production from the Trab-23 licenses, Tumad will pay the Company a
      3% NSR royalty from production. The annual minimum royalties will be credited to
      80% of the NSR royalty then payable.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Tumad's payment and drill requirements have not been met and Tumad terminated the agreement in 2017, and is currently in the process of returning the property to
      100% EMX control.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Ferrite Agreement - Alankoy&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On December 20, 2013, the Company signed an Exploration and Option Agreement (the &amp;#8220;Alankoy Agreement&amp;#8221;) with Ferrite Resources Ltd. (&amp;#8220;Ferrite&amp;#8221;), a privately-held Australian company, whereby Ferrite had the option to acquire the Company&amp;#8217;s subsidiaries that hold the Alankoy project, with the Company retaining a
      3% NSR. To do so, Ferrite paid US$35,000
      upon signing and must expend at least US$200,000
      on exploration activities each year for the three years after June 3, 2014 (the Effective Date). In addition, Ferrite is required to make annual deliveries of gold bullion to the Company as Advanced Annual Royalties (AARs) on each anniversary of the Effective Date.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In October 2015, Ferrite informed the Company they would not continue with the option agreement and paid to EMX US$25,000
      ($33,205) related to reimbursement of expenditures owed by Ferrite.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Alankoy Property&lt;/b&gt;
      &lt;b&gt;&amp;#8211;&lt;/b&gt;
      &lt;b&gt;Black Sea Copper &amp;amp; Gold Agreement&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On November 23, 2015, the Company signed an Exploration and Option Agreement with Black Sea Copper &amp;amp; Gold Corp. (&amp;#8220;Black Sea&amp;#8221;), a privately-held British Columbia corporation, for the Alankoy copper-gold property in northwestern Turkey, whereby Black Sea has the option to acquire the Company&amp;#8217;s subsidiaries that hold the Alankoy project, with the Company retaining a
      3% production royalty. To do so, Black Sea paid US$25,000
      (received $35,408
      in January 2016) upon signing and must incur certain exploration expenditure milestones.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In February 2017, the Company received notification that 0955767 B.C Ltd (Formerly Black Sea) was terminating the Alankoy agreement and paid US$16,439
      to EMX for reimbursement of costs. EMX has regained
      100% control of the project.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Aktutan Property&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      EMX has a royalty interest in the Aktutan polymetallic project sold to Dedeman in 2007 for considerations that include a
      4% uncapped NSR and annual advance royalty payments. During the year ended December 31, 2017, EMX received two advanced royalty payments on its Aktutan property for $261,473
      (US$200,000) from Dedeman.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;Australia exploration licenses&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s Australian properties are comprised of contiguous exploration licenses along the Koonenberry gold belt in New South Wales, Australia. The Australian properties are acquired either directly through staking or through agreements with license holders.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Koonenberry Property&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In February 2014, the Company signed an exploration and option agreement with North Queensland Mining Pty Ltd. (&amp;#8220;NQM&amp;#8221;), a privately-held Australian company, giving NQM the right to acquire the Company&amp;#8217;s Koonenberry exploration licenses in New South Wales, Australia. NQM will bear responsibility of satisfying all existing work commitments and honoring all underlying property agreements during the term of the agreement. NQM has the option to earn a
      100% interest in the EMX subsidiary that holds the licenses, with EMX retaining a
      3% production royalty.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In 2017, Koonenberry Gold Pty Ltd. (&amp;#8220;KNB&amp;#8221;) completed the earn-in requirements under the exploration and option Agreement between NQM and the Company, and elected to acquire EMX&amp;#8217;s Koonenberry exploration licenses. KNB, a private Australian company, is the successor in interest to NQM under the agreement. The Company transferred its wholly-owned subsidiary, EMX Exploration Pty Ltd, the holder of the Koonenberry licenses, to KNB. EMX retains a
      3% royalty on all future production from the Koonenberry licenses. As a result of this transaction, all of EMX&amp;#8217;s interests in the Koonenberry gold project have now been converted to royalties. As a result of the sale, the Company recorded a loss of $87,987
      being the capitalized costs of the Koonenberry property and field equipment with a book value of $6,866
      transferred to KNB at the time of sale.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;New Zealand exploration licenses&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In September 2014, and amended in December 2015 the Company signed an option agreement with Land &amp;amp; Mineral Limited (&amp;#8220;L&amp;amp;M&amp;#8221;), a privately-held Australian company, giving L&amp;amp;M the right to acquire Hauraki Gold Ltd. (&amp;#8220;Hauraki&amp;#8221;), the wholly-owned EMX subsidiary that controls the Neavesville gold-silver property located in the Hauraki goldfield of New Zealand&amp;#8217;s North Island. The purchase and sale agreement included an execution payment of $100,000
      ($50,000
      received on signing in 2015, and $50,000
      received in May 2016, being the balance of the execution payment) and a series of anniversary and milestone payments equal to a certain amount of troy ounces of gold. Pursuant to the agreement, In September 2016, the Company received a $129,562
      payment equivalent to a required payment of
      75
      troy ounces of gold.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;Haiti exploration permits&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Eurasian and joint venture partner Newmont Ventures Limited (&amp;#8220;Newmont&amp;#8221;), a wholly owned subsidiary of Newmont Mining Corporation (collectively, the &amp;#8220;JV&amp;#8221;), had the right to establish specific exploration areas along the trend of Haiti&amp;#8217;s Massif du Nord mineral belt. Newmont was funding and managing six joint venture Designated Projects (&amp;#8220;DP&amp;#8217;s&amp;#8221;) across the exploration areas. The Company&amp;#8217;s work on the
      100% controlled Grand Bois gold-copper project is outside of the JV with Newmont.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      On November 2, 2015, the Company terminated the EMX &amp;#8211;Newmont JV that covered the six designated exploration areas and sold its interest in Haiti to Newmont for a $5,277,542
      (US$4,000,000) cash payment and a retained
      0.5% NSR royalty interest.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Exploration Expenditures&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the year ended December 31, 2017, the Company incurred the following exploration expenditures by projects, which were expensed as incurred:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
                &lt;b&gt;Scandinavia&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="20%"&gt;
                &lt;b&gt;USA&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
                &lt;b&gt;Turkey&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="15%"&gt;
                &lt;b&gt;Asia Pacific&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
                &lt;b&gt;Other&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
                &lt;b&gt;Total&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;
                  Kennecott
                  &lt;br/&gt;
                &lt;/strong&gt;
                &lt;b&gt;Exploration&lt;/b&gt;
                &amp;#160;&amp;#160;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &amp;#160;
                &lt;strong&gt;
                  Anglo
                  &lt;br/&gt;
                &lt;/strong&gt;
                &lt;b&gt;American&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &amp;#160;
                &lt;strong&gt;
                  Other
                  &lt;br/&gt;
                  USA
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
                &amp;#160;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;
                  New
                  &lt;br/&gt;
                  Zealand
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &amp;#160;
                &lt;strong&gt;Other&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Administration Cost&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                67,159
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                74
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                292
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                185,833
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                186,199
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                65,877
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                40,765
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                10,669
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                51,434
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                6,073
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                376,742
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Assays&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                24,972
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                7,727
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                6,031
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                13,758
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                940
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                39,670
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Drilling / Trenching&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                13,509
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                370
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                89,142
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                89,512
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                103,021
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Land and Legal&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                73,870
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                198,126
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                198,126
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                23,062
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                3,511
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                15,334
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                18,845
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                9,534
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                323,437
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Logistics&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                26,040
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                8,326
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                6,168
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                187,423
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                201,917
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                1,379
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                229,336
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Personnel&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                566,367
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                35,565
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                18,052
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                1,593,930
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                1,647,547
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                175,649
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                13,606
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                106,659
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                120,265
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                44,619
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                2,554,447
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Property Cost&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                347,792
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                363
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                39,396
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                901,022
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                940,781
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                27,130
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                3,965
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                25,238
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                29,203
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                1,344,906
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Professional Services&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                77,768
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                6,498
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                6,498
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                93,506
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                72,497
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                72,497
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                27,180
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                277,449
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Share Based Payments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                111,887
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                476,569
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                476,569
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                52,362
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                5,318
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                28,456
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                33,774
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                64,993
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                739,585
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Technical Studies&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                17,921
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                10,370
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                2,554
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                12,924
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                34,506
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                34,506
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                31,873
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                97,224
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Travel&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                118,904
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                735
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                104,249
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                104,984
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                11,584
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                1,567
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                6,844
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                8,411
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                4,419
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                248,302
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Expenditures&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                1,446,189
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                63,530
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                63,908
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                3,751,377
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                3,878,815
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                451,489
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                68,732
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                300,203
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                368,935
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                188,691
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                6,334,119
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoveries&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (239,088
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (69,812
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (167,690
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (166,028
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (403,530
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (21,338
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (26,434
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (31,578
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (58,012
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (721,968
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Operator fees&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                (7,451
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                (22,319
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                (29,770
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="5%"&gt;
                (29,770
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  Option Payments &amp;amp;
                  &lt;br/&gt;
                  Shares Received
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (750,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (64,901
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (110,333
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (175,234
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (122,326
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
                (1,047,560
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other Property Income&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (2,090
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (714
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (55,594
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (58,398
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (5,349
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (5,349
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (63,747
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Recoveries&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (989,088
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (144,254
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (168,404
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (354,274
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (666,932
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (143,664
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (31,783
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (31,578
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (63,361
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                (1,863,045
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Net Expenditures&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                457,101
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (80,724
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (104,496
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                3,397,103
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                3,211,883
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                307,825
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                36,949
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                268,625
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                305,574
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                188,691
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
                4,471,074
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the year ended December 31, 2017, The Company:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Received or accrued $239,088
              in expenditures recovered from Boreal in Sweden;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Received
              3,000,000
              common shares of Sienna valued at $750,000
              ;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Received a $65,368
              (US$50,000) option payment related to an exploration and option to purchase agreement for the Copper King project with Kennecott;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Received as part of the Copper Springs option agreement with Anglo American, US$82,000
              ($106,436) as reimbursement of previously paid land holding costs; and
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Recorded an option payment from Pasinex pursuant to a property agreement on the Company&amp;#8217;s Golcuk property for the equivalent to
              75
              ounces of gold in the form of $61,805
              (US$49,204) cash and
              224,150
              shares of Pasinex valued at $60,521.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the year ended December 31, 2016, the Company incurred the following exploration expenditures by projects, which were expensed as incurred:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;b&gt;Scandinavia&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%"&gt;
                &lt;b&gt;USA&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
                &lt;b&gt;Turkey&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
                &lt;b&gt;Asia Pacific&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;b&gt;Other&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;b&gt;Total&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;
                  Kennecott
                  &lt;br/&gt;
                  Exploration&amp;#160;
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &amp;#160;
                &lt;strong&gt;
                  Desert
                  &lt;br/&gt;
                  Star
                  &lt;br/&gt;
                  Resources
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &amp;#160;
                &lt;strong&gt;
                  Other
                  &lt;br/&gt;
                  USA
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;Akarca&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;Other&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &amp;#160;
                &lt;strong&gt;
                  New
                  &lt;br/&gt;
                  Zealand
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;Other&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Administration Cost&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                37,498
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                109
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                25
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                157,106
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                157,240
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                27,055
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                92,397
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                119,452
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                2,220
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                9,520
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                11,740
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                24,650
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                350,580
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Assays&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                8,596
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                845
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                6,635
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                7,480
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                676
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                676
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
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              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                16,752
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
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            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Drilling / Trenching&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
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              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                314,972
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                91
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                315,063
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                44,283
              &lt;/td&gt;
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              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
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              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                58,962
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
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              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                450,712
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
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            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Land and Legal&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                48,632
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                182,160
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                182,160
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                39,603
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                160,831
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                200,434
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                23,778
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                23,778
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                40,384
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                495,388
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
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            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Logistics&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                14,535
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                57,164
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                1,822
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                70,590
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                129,576
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                13,810
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                5,708
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                19,518
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                9,155
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                9,155
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                5,282
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                178,066
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Personnel&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                195,223
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                118,679
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                12,676
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                1,420,907
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                1,552,262
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                297,586
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                264,527
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                562,113
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                99,751
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                99,751
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                171,881
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                2,581,230
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Property Cost&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                165,640
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                2,677
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                39,460
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                485,365
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                527,502
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                154,526
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                32,426
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                186,952
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                37,230
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                47,219
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                84,449
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                964,543
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Professional Services&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                135,527
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                13,664
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                13,664
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                61,577
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                22,029
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                83,606
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                496
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                1,772
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                2,268
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                17,625
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                252,690
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Share Based Payments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                40,285
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                295,008
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                295,008
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                32,805
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                69,020
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                101,825
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                17,673
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                17,673
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                48,066
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                502,857
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
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              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                106,093
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                42,666
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                16,107
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                58,773
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                38,383
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                6,544
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                44,927
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                11,397
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                11,397
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                163,444
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                384,634
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Travel&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                63,571
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                103,478
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                103,478
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                16,310
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                31,479
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                47,789
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                6,861
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                6,861
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                16,382
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                238,081
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Expenditures&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                892,287
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                537,112
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                53,983
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                2,751,111
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                3,342,206
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                726,614
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                699,640
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                1,426,254
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                39,946
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                227,126
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                267,072
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                487,714
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                6,415,533
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoveries&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (555,217
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (51,833
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (21,938
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (628,988
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (43,550
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (43,550
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (48,781
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (48,781
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (721,319
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Operator fees&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                (56,271
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                (1,263
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                (57,534
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                (57,534
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Option Payments *&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (24,720
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (125,890
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (150,610
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (170,146
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (170,146
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (180,476
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (180,476
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (501,232
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other Property Income&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (9,720
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (265
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (39,755
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (49,740
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (56,466
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (56,466
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (27,243
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (27,243
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (2,040
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (135,489
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Recoveries&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (645,928
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (53,361
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (187,583
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (886,872
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (43,550
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (226,612
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (270,162
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (207,719
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (48,781
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (256,500
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (2,040
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (1,415,574
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Net Expenditures&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                892,287
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (108,816
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                622
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                2,563,528
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                2,455,334
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                683,064
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                473,028
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                1,156,092
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (167,773
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                178,345
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                10,572
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                485,674
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                4,999,959
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      *The Company received a $129,820
      (US$100,000) annual option payment related to an exploration and option to purchase agreement for the Superior West project with Kennecott applied as to $105,100
      to the Superior West capitalized costs, and $24,720
      to exploration recoveries.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Significant components of &amp;#8220;Other&amp;#8221; total exploration expenditures for the year ended December 31, 2016 were Haiti - $148,455
      ; Austria - $48,767
      ; and other general exploration costs in Europe totalling - $146,159.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the year ended December 31, 2015, the Company incurred the following exploration expenditures by projects, which were expensed as incurred:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;b&gt;Scandinavia&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%"&gt;
                &lt;b&gt;USA&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
                &lt;b&gt;Turkey&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
                &lt;b&gt;Asia Pacific&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;b&gt;Other *&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;b&gt;Total&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;
                  Kennecott
                  &lt;br/&gt;
                  &amp;#160;Exploration&amp;#160;
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;
                  Desert
                  &lt;br/&gt;
                  Star
                &lt;/strong&gt;
                &lt;br/&gt;
                &lt;strong&gt;Resources&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;
                  Other
                  &lt;br/&gt;
                  USA
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;Akarca&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;Other&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;
                  New
                  &lt;br/&gt;
                  Zealand
                &lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
                &lt;strong&gt;Other&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
                &lt;strong&gt;Total&lt;/strong&gt;
              &lt;/td&gt;
              &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Administration Cost&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                61,523
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                676
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                1,271
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                127,873
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                129,820
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                16,296
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                43,532
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                59,828
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                4,767
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                2,932
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                7,699
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                44,763
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                303,633
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Assays&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                5,307
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                1,825
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                142
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                22,472
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                24,439
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                5,509
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                5,509
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                1,480
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                36,735
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Drilling / Trenching&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                11,874
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                7,111
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                7,111
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
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              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
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              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                18,985
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
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            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Land and Legal&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                39,518
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                132,178
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                132,178
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                23,208
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                45,957
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                69,165
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                4,914
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                10,136
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                15,050
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                31,480
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                287,391
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Logistics&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                26,978
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                32,211
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                2,646
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                98,391
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                133,248
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                12,014
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                40,408
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                52,422
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                499
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                4,475
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                4,974
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                48,472
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                266,094
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Personnel&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                423,697
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                154,004
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                24,500
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                1,261,865
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                1,440,369
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                205,665
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                561,082
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                766,747
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                45,557
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                101,586
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                147,143
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                201,162
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                2,979,118
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
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            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Property Cost&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                60,369
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                87,771
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                75,530
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                415,594
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                578,895
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                176,773
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                116,132
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                292,905
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                8,921
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                44,322
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                53,243
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                43,094
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                1,028,506
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Professional Services&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                86,874
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                13,813
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                13,813
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                42,381
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                117,062
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                159,443
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                28,938
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                10,410
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                39,348
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                161,232
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                460,710
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Share Based Payments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                7,103
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                75,468
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                75,468
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                12,430
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                12,430
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (1,793
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (1,793
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (20,811
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                72,397
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Technical Studies&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                28,083
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                77,485
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                5,151
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                68,265
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                150,901
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                17,183
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                17,183
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                3,508
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                25,407
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                28,915
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                112,739
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                337,821
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Travel&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                59,934
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                128
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                27,107
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                27,235
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                28,263
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                28,263
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                3,781
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                10,609
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                14,390
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                27,590
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                157,412
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Expenditures&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                811,260
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                354,100
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                109,240
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                2,250,137
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                2,713,477
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                476,337
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                987,558
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                1,463,895
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                100,885
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                208,084
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                308,969
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                651,201
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                5,948,802
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoveries&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (426,190
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (118,065
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (93,549
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (637,804
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (295,024
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (33,305
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (328,329
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (96,675
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (1,062,808
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Operator fees&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                (44,067
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                (4,258
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                (9,457
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                (57,782
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="4%"&gt;
                (57,782
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Option Payments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (31,955
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (127,820
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (159,775
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                (242,820
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (242,820
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
                (402,595
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other Property Income&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (13,102
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (32,922
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (46,024
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (14,918
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (14,918
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (60,942
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Recoveries&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (515,314
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (122,323
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (263,748
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (901,385
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (295,024
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (276,125
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (571,149
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (14,918
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (14,918
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (96,675
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                (1,584,127
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Net Expenditures&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                811,260
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (161,214
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                (13,083
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                1,986,389
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                1,812,092
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                181,313
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                711,433
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                892,746
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                85,967
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
                208,084
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                294,051
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                554,526
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
                4,364,675
              &lt;/td&gt;
              &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      *Significant components of &amp;#8220;Other&amp;#8221; total exploration expenditures for the year ended December 31, 2015 were Haiti - $359,827
      ; Germany - $107,899
      ; Austria - $69,667
      ; and Russia - $32,137.
    &lt;/p&gt;</ifrs-full:DisclosureOfExplorationAndEvaluationAssetsExplanatory>
  <emx:DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;b&gt;Region&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="51%"&gt;
            &lt;b&gt;Properties&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Asia Pacific&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Various&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            81,124
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Sweden&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="51%"&gt;Various&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            16,671
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            16,671
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Viad royalties&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            421,084
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            421,084
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Turkey&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="51%"&gt;Alankoy&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            153,960
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            153,960
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Sisorta&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="51%"&gt;Trab&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            78,587
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            78,587
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;United States&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="51%"&gt;Superior West, Arizona&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            867,096
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            1,000,479
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;of America&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="51%"&gt;Yerington, Nevada&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            304,568
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            393,095
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="51%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,841,966
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            2,145,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory>
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  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificMember" unitRef="cad" decimals="0">81124</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-SwedenVariousMember" unitRef="cad" decimals="0">16671</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
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  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-TurkeyAlankoyMember" unitRef="cad" decimals="0">153960</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-TurkeyAlankoyMember" unitRef="cad" decimals="0">153960</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
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  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-TurkeySisortaMember" unitRef="cad" decimals="0">0</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-TurkeyTrabMember" unitRef="cad" decimals="0">78587</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-TurkeyTrabMember" unitRef="cad" decimals="0">78587</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-USASuperWestArizonaMember" unitRef="cad" decimals="0">867096</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-USASuperWestArizonaMember" unitRef="cad" decimals="0">1000479</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-USAYeringtonNevadaMember" unitRef="cad" decimals="0">304568</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-USAYeringtonNevadaMember" unitRef="cad" decimals="0">393095</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <emx:DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
            &lt;b&gt;Scandinavia&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="20%"&gt;
            &lt;b&gt;USA&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
            &lt;b&gt;Turkey&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="15%"&gt;
            &lt;b&gt;Asia Pacific&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
            &lt;b&gt;Other&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;
              Kennecott
              &lt;br/&gt;
            &lt;/strong&gt;
            &lt;b&gt;Exploration&lt;/b&gt;
            &amp;#160;&amp;#160;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &amp;#160;
            &lt;strong&gt;
              Anglo
              &lt;br/&gt;
            &lt;/strong&gt;
            &lt;b&gt;American&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &amp;#160;
            &lt;strong&gt;
              Other
              &lt;br/&gt;
              USA
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
            &amp;#160;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;
              New
              &lt;br/&gt;
              Zealand
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &amp;#160;
            &lt;strong&gt;Other&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%"&gt;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Administration Cost&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            67,159
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            74
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            292
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            185,833
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            186,199
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            65,877
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            40,765
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            10,669
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            51,434
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            6,073
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            376,742
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Assays&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            24,972
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            7,727
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            6,031
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            13,758
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            940
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            39,670
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Drilling / Trenching&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            13,509
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            370
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            89,142
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            89,512
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            103,021
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Land and Legal&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            73,870
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            198,126
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            198,126
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            23,062
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            3,511
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            15,334
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            18,845
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            9,534
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            323,437
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Logistics&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            26,040
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            8,326
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            6,168
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            187,423
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            201,917
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            1,379
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            229,336
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Personnel&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            566,367
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            35,565
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            18,052
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            1,593,930
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            1,647,547
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            175,649
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            13,606
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            106,659
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            120,265
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            44,619
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            2,554,447
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Property Cost&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            347,792
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            363
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            39,396
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            901,022
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            940,781
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            27,130
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            3,965
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            25,238
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            29,203
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            1,344,906
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Professional Services&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            77,768
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            6,498
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            6,498
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            93,506
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            72,497
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            72,497
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            27,180
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            277,449
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Share Based Payments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            111,887
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            476,569
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            476,569
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            52,362
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            5,318
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            28,456
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            33,774
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            64,993
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            739,585
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Technical Studies&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            17,921
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            10,370
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            2,554
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            12,924
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            34,506
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            34,506
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            31,873
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            97,224
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Travel&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            118,904
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            735
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            104,249
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            104,984
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            11,584
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            1,567
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            6,844
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            8,411
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            4,419
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            248,302
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Expenditures&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            1,446,189
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            63,530
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            63,908
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            3,751,377
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            3,878,815
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            451,489
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            68,732
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            300,203
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            368,935
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            188,691
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            6,334,119
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoveries&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (239,088
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (69,812
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (167,690
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (166,028
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (403,530
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (21,338
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (26,434
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (31,578
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (58,012
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (721,968
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Operator fees&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            (7,451
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            (22,319
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            (29,770
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="5%"&gt;
            (29,770
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              Option Payments &amp;amp;
              &lt;br/&gt;
              Shares Received
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (750,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (64,901
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (110,333
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (175,234
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (122,326
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="5%"&gt;
            (1,047,560
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other Property Income&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (2,090
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (714
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (55,594
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (58,398
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (5,349
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (5,349
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (63,747
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Recoveries&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (989,088
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (144,254
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (168,404
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (354,274
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (666,932
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (143,664
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (31,783
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (31,578
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (63,361
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            (1,863,045
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Net Expenditures&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            457,101
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (80,724
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (104,496
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            3,397,103
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            3,211,883
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            307,825
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            36,949
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            268,625
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            305,574
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            188,691
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%"&gt;
            4,471,074
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExplorationExpendituresAndRecoveriesAxis-AdministrationCostMember_ExplorationAndEvaluationAssetsByGeographyAxis-ScandinaviaMember" unitRef="cad" decimals="0">67159</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
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  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-ScandinaviaMember" unitRef="cad" decimals="0">457101</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-USAKennecottMember" unitRef="cad" decimals="0">-80724</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-UsaAngloAmericanMember" unitRef="cad" decimals="0">-104496</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-USAOtherMember" unitRef="cad" decimals="0">3397103</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">3211883</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">307825</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificNewZealandMember" unitRef="cad" decimals="0">36949</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificOtherMember" unitRef="cad" decimals="0">268625</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificMember" unitRef="cad" decimals="0">305574</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2017_TO_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-OtherExplorationAndEvaluationLocationsMember" unitRef="cad" decimals="0">188691</emx:NetExplorationExpenditures>
  <emx:DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock contextRef="cx_01_January_2016_TO_31_December_2016">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;b&gt;Scandinavia&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%"&gt;
            &lt;b&gt;USA&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
            &lt;b&gt;Turkey&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
            &lt;b&gt;Asia Pacific&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;b&gt;Other&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;
              Kennecott
              &lt;br/&gt;
              Exploration&amp;#160;
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &amp;#160;
            &lt;strong&gt;
              Desert
              &lt;br/&gt;
              Star
              &lt;br/&gt;
              Resources
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &amp;#160;
            &lt;strong&gt;
              Other
              &lt;br/&gt;
              USA
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;Akarca&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;Other&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &amp;#160;
            &lt;strong&gt;
              New
              &lt;br/&gt;
              Zealand
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;Other&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Administration Cost&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            37,498
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            109
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            25
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            157,106
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            157,240
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            27,055
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            92,397
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            119,452
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            2,220
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            9,520
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            11,740
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            24,650
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            350,580
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Assays&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            8,596
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            845
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            6,635
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            7,480
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            676
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            676
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            16,752
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Drilling / Trenching&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            76,687
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            314,972
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            91
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            315,063
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            44,283
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            14,679
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            58,962
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            450,712
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Land and Legal&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            48,632
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            182,160
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            182,160
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            39,603
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            160,831
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            200,434
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            23,778
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            23,778
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            40,384
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            495,388
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Logistics&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            14,535
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            57,164
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            1,822
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            70,590
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            129,576
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            13,810
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            5,708
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            19,518
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            9,155
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            9,155
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            5,282
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            178,066
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Personnel&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            195,223
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            118,679
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            12,676
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            1,420,907
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            1,552,262
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            297,586
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            264,527
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            562,113
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            99,751
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            99,751
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            171,881
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            2,581,230
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Property Cost&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            165,640
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            2,677
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            39,460
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            485,365
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            527,502
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            154,526
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            32,426
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            186,952
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            37,230
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            47,219
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            84,449
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            964,543
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Professional Services&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            135,527
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            13,664
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            13,664
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            61,577
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            22,029
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            83,606
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            496
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            1,772
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            2,268
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            17,625
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            252,690
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Share Based Payments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            40,285
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            295,008
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            295,008
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            32,805
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            69,020
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            101,825
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            17,673
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            17,673
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            48,066
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            502,857
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Technical Studies&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            106,093
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            42,666
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            16,107
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            58,773
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            38,383
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            6,544
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            44,927
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            11,397
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            11,397
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            163,444
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            384,634
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Travel&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            63,571
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            103,478
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            103,478
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            16,310
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            31,479
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            47,789
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            6,861
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            6,861
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            16,382
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            238,081
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Expenditures&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            892,287
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            537,112
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            53,983
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            2,751,111
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            3,342,206
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            726,614
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            699,640
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            1,426,254
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            39,946
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            227,126
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            267,072
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            487,714
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            6,415,533
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoveries&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (555,217
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (51,833
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (21,938
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (628,988
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (43,550
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (43,550
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (48,781
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (48,781
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (721,319
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Operator fees&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            (56,271
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            (1,263
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            (57,534
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            (57,534
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Option Payments *&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (24,720
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (125,890
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (150,610
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (170,146
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (170,146
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (180,476
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (180,476
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (501,232
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other Property Income&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (9,720
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (265
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (39,755
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (49,740
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (56,466
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (56,466
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (27,243
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (27,243
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (2,040
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (135,489
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Recoveries&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (645,928
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (53,361
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (187,583
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (886,872
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (43,550
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (226,612
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (270,162
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (207,719
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (48,781
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (256,500
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (2,040
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (1,415,574
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Net Expenditures&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            892,287
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (108,816
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            622
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            2,563,528
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            2,455,334
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            683,064
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            473,028
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            1,156,092
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (167,773
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            178,345
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            10,572
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            485,674
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            4,999,959
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock>
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  <emx:NetExplorationExpenditures contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">1156092</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificNewZealandMember" unitRef="cad" decimals="0">-167773</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificOtherMember" unitRef="cad" decimals="0">178345</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificMember" unitRef="cad" decimals="0">10572</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-OtherExplorationAndEvaluationLocationsMember" unitRef="cad" decimals="0">485674</emx:NetExplorationExpenditures>
  <emx:DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock contextRef="cx_01_January_2015_TO_31_December_2015">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;b&gt;Scandinavia&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%"&gt;
            &lt;b&gt;USA&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
            &lt;b&gt;Turkey&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%"&gt;
            &lt;b&gt;Asia Pacific&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;b&gt;Other *&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;
              Kennecott
              &lt;br/&gt;
              &amp;#160;Exploration&amp;#160;
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;
              Desert
              &lt;br/&gt;
              Star
            &lt;/strong&gt;
            &lt;br/&gt;
            &lt;strong&gt;Resources&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;
              Other
              &lt;br/&gt;
              USA
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;Akarca&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;Other&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;
              New
              &lt;br/&gt;
              Zealand
            &lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;
            &lt;strong&gt;Other&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%"&gt;
            &lt;strong&gt;Total&lt;/strong&gt;
          &lt;/td&gt;
          &lt;td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Administration Cost&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            61,523
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            676
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            1,271
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            127,873
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            129,820
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            16,296
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            43,532
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            59,828
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            4,767
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            2,932
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            7,699
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            44,763
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            303,633
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Assays&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            5,307
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            1,825
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            142
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            22,472
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            24,439
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            5,509
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            5,509
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            1,480
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            36,735
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Drilling / Trenching&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            11,874
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            7,111
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            7,111
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            18,985
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Land and Legal&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            39,518
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            132,178
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            132,178
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            23,208
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            45,957
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            69,165
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            4,914
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            10,136
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            15,050
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            31,480
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            287,391
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Logistics&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            26,978
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            32,211
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            2,646
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            98,391
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            133,248
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            12,014
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            40,408
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            52,422
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            499
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            4,475
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            4,974
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            48,472
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            266,094
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Personnel&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            423,697
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            154,004
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            24,500
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            1,261,865
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            1,440,369
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            205,665
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            561,082
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            766,747
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            45,557
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            101,586
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            147,143
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            201,162
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            2,979,118
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Property Cost&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            60,369
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            87,771
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            75,530
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            415,594
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            578,895
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            176,773
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            116,132
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            292,905
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            8,921
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            44,322
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            53,243
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            43,094
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            1,028,506
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Professional Services&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            86,874
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            13,813
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            13,813
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            42,381
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            117,062
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            159,443
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            28,938
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            10,410
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            39,348
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            161,232
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            460,710
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Share Based Payments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            7,103
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            75,468
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            75,468
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            12,430
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            12,430
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (1,793
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (1,793
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (20,811
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            72,397
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Technical Studies&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            28,083
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            77,485
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            5,151
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            68,265
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            150,901
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            17,183
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            17,183
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            3,508
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            25,407
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            28,915
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            112,739
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            337,821
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Travel&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            59,934
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            128
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            27,107
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            27,235
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            28,263
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            28,263
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            3,781
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            10,609
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            14,390
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            27,590
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            157,412
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Expenditures&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            811,260
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            354,100
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            109,240
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            2,250,137
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            2,713,477
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            476,337
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            987,558
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            1,463,895
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            100,885
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            208,084
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            308,969
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            651,201
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            5,948,802
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Recoveries&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (426,190
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (118,065
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (93,549
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (637,804
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (295,024
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (33,305
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (328,329
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (96,675
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (1,062,808
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Operator fees&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            (44,067
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            (4,258
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            (9,457
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            (57,782
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="4%"&gt;
            (57,782
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Option Payments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (31,955
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (127,820
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (159,775
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            (242,820
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (242,820
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="4%"&gt;
            (402,595
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other Property Income&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (13,102
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (32,922
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (46,024
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (14,918
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (14,918
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (60,942
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total Recoveries&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (515,314
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (122,323
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (263,748
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (901,385
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (295,024
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (276,125
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (571,149
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (14,918
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (14,918
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (96,675
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            (1,584,127
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Net Expenditures&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            811,260
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (161,214
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            (13,083
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            1,986,389
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            1,812,092
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            181,313
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            711,433
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            892,746
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            85,967
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;
            208,084
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            294,051
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            554,526
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%"&gt;
            4,364,675
          &lt;/td&gt;
          &lt;td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock>
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  <ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificNewZealandMember" unitRef="cad" decimals="0">14918</ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificOtherMember" unitRef="cad" decimals="0">0</ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificMember" unitRef="cad" decimals="0">14918</ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-OtherExplorationAndEvaluationLocationsMember" unitRef="cad" decimals="0">96675</ifrs-full:IncomeArisingFromExplorationForAndEvaluationOfMineralResources>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-ScandinaviaMember" unitRef="cad" decimals="0">811260</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-USAKennecottMember" unitRef="cad" decimals="0">-161214</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-USADesertStarMember" unitRef="cad" decimals="0">-13083</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-USAOtherMember" unitRef="cad" decimals="0">1986389</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">1812092</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-TurkeyAkarcaMember" unitRef="cad" decimals="0">181313</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-TurkeyOtherMember" unitRef="cad" decimals="0">711433</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">892746</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificNewZealandMember" unitRef="cad" decimals="0">85967</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificOtherMember" unitRef="cad" decimals="0">208084</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificMember" unitRef="cad" decimals="0">294051</emx:NetExplorationExpenditures>
  <emx:NetExplorationExpenditures contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-OtherExplorationAndEvaluationLocationsMember" unitRef="cad" decimals="0">554526</emx:NetExplorationExpenditures>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="cad" decimals="0">133383</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">100000</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="cad" decimals="0">88527</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="usd" decimals="0">75000</emx:ProceedsFromAnnualOptionPayment>
  <emx:CapitalizedCostOfPropertiesTransferred contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-KoonenberryArastraMember" unitRef="cad" decimals="0">81124</emx:CapitalizedCostOfPropertiesTransferred>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2016_TO_31_December_2016_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="cad" decimals="0">129820</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2016_TO_31_December_2016_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">100000</emx:ProceedsFromAnnualOptionPayment>
  <emx:WriteOffOfExplorationAndEvaluationAssets contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-HT" unitRef="cad" decimals="0">56085</emx:WriteOffOfExplorationAndEvaluationAssets>
  <emx:NetSmelterReturnsRoyaltyTerminated contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-HT" unitRef="pure" decimals="2">0.01</emx:NetSmelterReturnsRoyaltyTerminated>
  <emx:NumberOfEquityInterestsInSubsidiaryAcquired contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="shares" decimals="0">1713390</emx:NumberOfEquityInterestsInSubsidiaryAcquired>
  <ifrs-full:PercentageOfVotingEquityInterestsAcquired contextRef="cx_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="pure" decimals="3">0.199</ifrs-full:PercentageOfVotingEquityInterestsAcquired>
  <emx:DescriptionOfEquityOwnershipContinuingObligation contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE">BMC had thecontinuing obligation to issue additional shares of BMC to EMX to maintain its 19.9% interest in Boreal, at no additional cost to EMX, until BMC raised CAD $5,000,000 in equity (completed). EMX now has the right to participate pro-rata in future financings at its own cost to maintain its 19.9% interest in Boreal.</emx:DescriptionOfEquityOwnershipContinuingObligation>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="sek" decimals="0">550000</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">81996</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE">EMX will receive an uncapped 3% NSR royalty on each of the properties. Within five years of the closing date, BMC has the right to buy down up to 1% of the royalty on any given project by paying EMX US$2,500,000 in cash and shares of BMC. Such buy down is project specific.  EMX will also receive a 0.5% NSR royalty on any new mineral exploration projects generated by BMC in Sweden or Norway, excluding projects acquired from a third party containing a mineral resource or reserve or an existing mining operation. These royalties are not capped and not subject to a buy down.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:DescriptionOfAnnualAdvanceRoyaltyPayments contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE">EMX will receive annual advance royalty (&amp;#8220;AAR&amp;#8221;) payments of US$20,000 for each of the properties commencing on the second anniversary of the closing, with each AAR payment increasing by US$5,000 per year until reaching US$60,000 per year, except that BMC may forgo AAR payments on two of the four Properties in years two and three.</emx:DescriptionOfAnnualAdvanceRoyaltyPayments>
  <emx:NumberOfEquityInterestsInSubsidiaryAcquired contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_TimingOfTransferOfGoodsOrServicesAxis-PursuantToTheAgreementMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="shares" decimals="0">1713390</emx:NumberOfEquityInterestsInSubsidiaryAcquired>
  <emx:EquityInterestsOfAcquirerValuePerShare contextRef="cx_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_TimingOfTransferOfGoodsOrServicesAxis-PursuantToTheAgreementMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="2">0.05</emx:EquityInterestsOfAcquirerValuePerShare>
  <ifrs-full:EquityInterestsOfAcquirer contextRef="cx_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_TimingOfTransferOfGoodsOrServicesAxis-PursuantToTheAgreementMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">85670</ifrs-full:EquityInterestsOfAcquirer>
  <emx:PaymentOfFindersFee contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_TimingOfTransferOfGoodsOrServicesAxis-PursuantToTheAgreementMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="usd" decimals="0">12000</emx:PaymentOfFindersFee>
  <emx:PaymentOfFindersFee contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_TimingOfTransferOfGoodsOrServicesAxis-PursuantToTheAgreementMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">15862</emx:PaymentOfFindersFee>
  <emx:NumberOfEquityInterestsInSubsidiaryAcquired contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE_TimingOfTransferOfGoodsOrServicesAxis-SubsequentToSigningMember" unitRef="shares" decimals="0">7492492</emx:NumberOfEquityInterestsInSubsidiaryAcquired>
  <ifrs-full:EquityInterestsOfAcquirer contextRef="cx_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE_TimingOfTransferOfGoodsOrServicesAxis-SubsequentToSigningMember" unitRef="cad" decimals="0">1290998</ifrs-full:EquityInterestsOfAcquirer>
  <emx:GainOnDisposalOfSubsidiary contextRef="cx_01_February_2017_TO_14_February_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_TimingOfTransferOfGoodsOrServicesAxis-PursuantToTheAgreementMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">1393224</emx:GainOnDisposalOfSubsidiary>
  <emx:NumberOfEquityInterestsOfSubsidiaryHeld contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="shares" decimals="0">9205882</emx:NumberOfEquityInterestsOfSubsidiaryHeld>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="pure" decimals="3">0.178</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <emx:OptionAgreementInterest contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:OptionAgreementSharesReceived contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember" unitRef="shares" decimals="0">3000000</emx:OptionAgreementSharesReceived>
  <emx:OptionAgreementValueOfSharesReceived contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember" unitRef="cad" decimals="0">750000</emx:OptionAgreementValueOfSharesReceived>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember" unitRef="cad" decimals="0">500000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:OptionAgreementSharesReceived contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember_TimingOfTransferOfGoodsOrServicesAxis-UponExerciseOfTheOptionMember" unitRef="shares" decimals="0">3000000</emx:OptionAgreementSharesReceived>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember_TimingOfTransferOfGoodsOrServicesAxis-UponExerciseOfTheOptionMember" unitRef="pure" decimals="2">0.03</emx:NetSmelterReturnRoyalty>
  <emx:DescriptionOfTermsOfOptionAgreement contextRef="cx_01_January_2017_TO_31_December_2017_TimingOfTransferOfGoodsOrServicesAxis-AfterExerciseOfTheOptionMember_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember">After exercise of the option, Sienna will use commercially reasonable efforts to raise $3,000,000 for development of the project and other activities. Once Sienna has raised that amount, Sienna will issue an additional 4,000,000 common shares to EMX. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its interest in Sienna.</emx:DescriptionOfTermsOfOptionAgreement>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember_SpecificExplorationLicensesAxis-SlattbergLicensesMember">Within six years of the execution of the agreement, Sienna may purchase 0.5% of the NSR royalty for $1,500,000, leaving EMX with a 2.5% NSR royalty.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:OptionAgreementInterest contextRef="cx_30_July_2015_SpecificExplorationLicensesAxis-AguilaDeCobrePropertyMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:OptionAgreementInterest contextRef="cx_30_June_2014_SpecificExplorationLicensesAxis-CathedralWellPropertyMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_June_2014_TO_30_June_2014_SpecificExplorationLicensesAxis-CathedralWellPropertyMember" unitRef="usd" decimals="0">100000</emx:ProceedsFromOptionAgreement>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_June_2014_TO_30_June_2014_SpecificExplorationLicensesAxis-CathedralWellPropertyMember">the Company will retain a 2.5% NSR royalty, inclusive of an underlying 0.5% NSR royalty.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:ValueOfQuitClaimDeedInLieuOfOptionPayment contextRef="cx_01_November_2016_TO_30_November_2016_SpecificExplorationLicensesAxis-CathedralWellPropertyMember" unitRef="usd" decimals="0">25000</emx:ValueOfQuitClaimDeedInLieuOfOptionPayment>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember" unitRef="pure" decimals="2">1.00</emx:ExplorationLicenseOwnershipPercentage>
  <emx:OptionAgreementInterest contextRef="cx_31_October_2015_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_October_2015_TO_31_October_2015_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember" unitRef="usd" decimals="0">85000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_October_2015_TO_31_October_2015_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember_TimingOfTransferOfGoodsOrServicesAxis-UponExecutionOfTheAgreementMember" unitRef="usd" decimals="0">25000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_October_2015_TO_31_October_2015_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember_TimingOfTransferOfGoodsOrServicesAxis-OverTheNextThreeYearsMember" unitRef="usd" decimals="0">60000</emx:ProceedsFromOptionAgreement>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_October_2015_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyalty>
  <emx:ProceedsFromAnnualAdvanceMinimumRoyalty contextRef="cx_01_October_2015_TO_31_October_2015_TimingOfTransferOfGoodsOrServicesAxis-FirstAnniversaryOfTheExerciseOfTheOptionMember_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember" unitRef="usd" decimals="0">5000</emx:ProceedsFromAnnualAdvanceMinimumRoyalty>
  <emx:ProceedsFromAnnualAdvanceMinimumRoyalty contextRef="cx_01_October_2015_TO_31_October_2015_TimingOfTransferOfGoodsOrServicesAxis-AfterCommencementOfCommercialProductionMember_SpecificExplorationLicensesAxis-HardshellSkarnPropertyMember" unitRef="usd" decimals="0">5000</emx:ProceedsFromAnnualAdvanceMinimumRoyalty>
  <emx:OptionAgreementInterest contextRef="cx_30_November_2017_SpecificExplorationLicensesAxis-GreenwoodPeakProjectMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_November_2017_TO_30_November_2017_SpecificExplorationLicensesAxis-GreenwoodPeakProjectMember" unitRef="usd" decimals="0">630000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_November_2017_TO_30_November_2017_SpecificExplorationLicensesAxis-GreenwoodPeakProjectMember" unitRef="cad" decimals="0">30000</emx:ProceedsFromOptionAgreement>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_November_2017_TO_30_November_2017_SpecificExplorationLicensesAxis-GreenwoodPeakProjectMember" unitRef="usd" decimals="0">4500000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:NetSmelterReturnRoyalty contextRef="cx_30_November_2017_SpecificExplorationLicensesAxis-GreenwoodPeakProjectMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyalty>
  <emx:OptionAgreementInterest contextRef="cx_30_September_2013_SpecificExplorationLicensesAxis-CopperSpringsCopperKingAndRedTopPropertiesMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:OptionAgreementSharesReceived contextRef="cx_01_September_2013_TO_30_September_2013_SpecificExplorationLicensesAxis-CopperSpringsCopperKingAndRedTopPropertiesMember" unitRef="shares" decimals="0">1050000</emx:OptionAgreementSharesReceived>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_September_2013_TO_30_September_2013_SpecificExplorationLicensesAxis-CopperSpringsCopperKingAndRedTopPropertiesMember" unitRef="usd" decimals="0">5000000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:OptionAgreementInterest contextRef="cx_31_January_2015_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:OptionAgreementInterest contextRef="cx_25_February_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_February_2017_TO_25_February_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="usd" decimals="0">447000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_February_2017_TO_25_February_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="cad" decimals="0">82000</emx:ProceedsFromOptionAgreement>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_February_2017_TO_25_February_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="usd" decimals="0">5000000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_February_2017_TO_25_February_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember_TimingOfTransferOfGoodsOrServicesAxis-UponExerciseOfTheOptionMember" unitRef="usd" decimals="0">110000</emx:ProceedsFromOptionAgreement>
  <emx:NetSmelterReturnRoyalty contextRef="cx_25_February_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyalty>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_February_2017_TO_25_February_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember">The royalty is not capped or purchasable, except over two parcels of Arizona State Land where Anglo American can buy a 0.5% NSR royalty from EMX for US$2,000,000.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:OptionAgreementInterest contextRef="cx_31_October_2016_SpecificExplorationLicensesAxis-CopperKingMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-CopperKingMember" unitRef="usd" decimals="0">504314</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-CopperKingMember" unitRef="usd" decimals="0">79314</emx:ProceedsFromOptionAgreement>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-CopperKingMember" unitRef="usd" decimals="0">4000000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_October_2016_SpecificExplorationLicensesAxis-CopperKingMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyalty>
  <emx:OptionAgreementInterest contextRef="cx_31_January_2017_SpecificExplorationLicensesAxis-RedTopProjectMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:OptionAgreementInterest contextRef="cx_31_October_2013_SpecificExplorationLicensesAxis-FrazierCanyonAndBuckhornCreekProjectsMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:OptionAgreementInterest contextRef="cx_27_April_2015_SpecificExplorationLicensesAxis-FrazierCanyonAndBuckhornCreekProjectsMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="pure" decimals="2">1.00</emx:ExplorationLicenseOwnershipPercentage>
  <emx:DescriptionOfTermsOfOptionAgreement contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-SuperiorWestProjectMember">The Company also may earn a 100% interest in additional adjacent claims under option from a third party for cash payments totaling US$1,000,000 on or before January 2017 and subject to a 2% NSR Royalty, 1% of which may be purchased for US$2,000,000 in 0.5% increments.</emx:DescriptionOfTermsOfOptionAgreement>
  <emx:OptionAgreementInterest contextRef="cx_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_May_2014_TO_04_May_2014_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">149187</emx:ProceedsFromOptionAgreement>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_May_2015_TO_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">5500000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_May_2015_TO_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">1000000</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_March_2016_TO_31_March_2016_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">100000</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2017_TO_31_January_2017_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">100000</emx:ProceedsFromAnnualOptionPayment>
  <emx:AmountAppliedAgainstCapitalizedCosts contextRef="cx_01_May_2015_TO_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">50000</emx:AmountAppliedAgainstCapitalizedCosts>
  <emx:AmountAppliedAgainstCapitalizedCosts contextRef="cx_01_May_2015_TO_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="cad" decimals="0">52500</emx:AmountAppliedAgainstCapitalizedCosts>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_May_2015_TO_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="usd" decimals="0">99187</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:NetSmelterReturnRoyalty contextRef="cx_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyalty>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_May_2015_TO_04_May_2015_SpecificExplorationLicensesAxis-SuperiorWestProjectMember">Kennecott has the right to buy down 1% of the NSR royalty from underlying claim holders by payment of US$4,000,000 to EMX.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:OptionAgreementInterest contextRef="cx_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="usd" decimals="0">435000</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember_TimingOfTransferOfGoodsOrServicesAxis-UponExecutionOfTheAgreementMember" unitRef="usd" decimals="0">10000</emx:ProceedsFromAnnualOptionPayment>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_October_2017_TO_31_October_2017_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="usd" decimals="0">15000</emx:ProceedsFromAnnualOptionPayment>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="usd" decimals="0">1550000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="usd" decimals="0">250000</emx:ProceedsFromOptionAgreement>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="pure" decimals="2">0.04</emx:NetSmelterReturnRoyalty>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember">Coeur may purchase up to 1.5% of the NSR royalty if, within sixty days after the completion of a PEA, Coeur purchases the first 0.5% for US$1,000,000. Coeur may purchase an additional 0.5% or 1% of the NSR royalty at any time thereafter for US$2,000,000 per 0.5% interest (maximum total buy down of 1.5%), with EMX and MHL retaining a 2.5% interest.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:ProceedsFromAnnualAdvanceMinimumRoyalty contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="usd" decimals="0">150000</emx:ProceedsFromAnnualAdvanceMinimumRoyalty>
  <emx:ProceedsFromMilestonePayments contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-MineralHillPropertyMember" unitRef="usd" decimals="0">1000000</emx:ProceedsFromMilestonePayments>
  <ifrs-full:ProceedsFromDisposalOfExplorationAndEvaluationAssets contextRef="cx_01_October_2016_TO_31_October_2016_SpecificExplorationLicensesAxis-OphirPropertyMember" unitRef="usd" decimals="0">75000</ifrs-full:ProceedsFromDisposalOfExplorationAndEvaluationAssets>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_October_2016_SpecificExplorationLicensesAxis-OphirPropertyMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyalty>
  <emx:OptionAgreementInterest contextRef="cx_24_September_2009_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="pure" decimals="2">0.80</emx:OptionAgreementInterest>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_September_2009_TO_24_September_2009_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="cad" decimals="0">1000000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_September_2009_TO_24_September_2009_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="cad" decimals="0">140000</emx:ProceedsFromOptionAgreement>
  <emx:OptionAgreementSharesReceived contextRef="cx_01_September_2009_TO_24_September_2009_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="shares" decimals="0">85000</emx:OptionAgreementSharesReceived>
  <emx:AdvancedProductionPayments contextRef="cx_01_September_2009_TO_24_September_2009_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="cad" decimals="0">375000</emx:AdvancedProductionPayments>
  <emx:ProceedsFromAnnualAdvanceMinimumRoyalty contextRef="cx_01_September_2009_TO_24_September_2009_TimingOfTransferOfGoodsOrServicesAxis-BetweenTheFifthAndSeventhAnniversariesMember_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="usd" decimals="0">50000</emx:ProceedsFromAnnualAdvanceMinimumRoyalty>
  <emx:AdvancedProductionPayments contextRef="cx_01_September_2009_TO_24_September_2009_TimingOfTransferOfGoodsOrServicesAxis-BetweenTheEighthAndTenthAnniversariesMember_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="cad" decimals="0">75000</emx:AdvancedProductionPayments>
  <emx:ProceedsFromAnnualAdvanceMinimumRoyalty contextRef="cx_01_January_2017_TO_31_December_2017_TimingOfTransferOfGoodsOrServicesAxis-BetweenTheEighthAndTenthAnniversariesMember_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember" unitRef="cad" decimals="0">75000</emx:ProceedsFromAnnualAdvanceMinimumRoyalty>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_September_2009_TO_24_September_2009_SpecificExplorationLicensesAxis-YeringtonWestPropertyMember">Under the agreement, once earn-in has been completed, EMX can convert its interest to a 2.5% NSR. Mason has the option to buy down 1.5% of the NSR for US$4,500,000 million.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:DisposalOfSubsidiaryDecreaseInOwnershipPercentage contextRef="cx_01_June_2013_TO_20_June_2013_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="pure" decimals="2">1.00</emx:DisposalOfSubsidiaryDecreaseInOwnershipPercentage>
  <ifrs-full:ProceedsFromDisposalOfExplorationAndEvaluationAssets contextRef="cx_01_June_2013_TO_20_June_2013_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="cad" decimals="0">350000</ifrs-full:ProceedsFromDisposalOfExplorationAndEvaluationAssets>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_20_June_2013_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="pure" decimals="2">1.00</emx:ExplorationLicenseOwnershipPercentage>
  <emx:ProceedsFromSharePurchaseAgreement contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="usd" decimals="0">2000000</emx:ProceedsFromSharePurchaseAgreement>
  <emx:ProceedsFromSharePurchaseAgreement contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="cad" decimals="0">2630760</emx:ProceedsFromSharePurchaseAgreement>
  <emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember_TimingOfTransferOfGoodsOrServicesAxis-EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember">500 ounces of gold every six months commencing February 2, 2017 up to a cumulative total of 7,000 ounces of gold. Received US$601,825 in February, 2017 and US$634,825 in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of 6,000 ounces of gold (or the cash equivalent) to be paid to EMX.</emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement>
  <emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember_TimingOfTransferOfGoodsOrServicesAxis-EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember">500 ounces of gold every six months commencing February 2, 2017 up to a cumulative total of 7,000 ounces of gold. Received US$601,825 in February, 2017 and US$634,825 in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of 6,000 ounces of gold (or the cash equivalent) to be paid to EMX.</emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement>
  <emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember_TimingOfTransferOfGoodsOrServicesAxis-WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember">7,000 ounces of gold within 30 days after the commencement of commercial production from the Property provided that prior gold payments will be credited against this payment;</emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement>
  <emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember_TimingOfTransferOfGoodsOrServicesAxis-UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember">250 ounces of gold upon production of 100,000 ounces of gold from the Property;</emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement>
  <emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember_TimingOfTransferOfGoodsOrServicesAxis-UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember">250 ounces of gold upon production of an aggregate of 500,000 ounces of gold from the Property;</emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement>
  <emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember_TimingOfTransferOfGoodsOrServicesAxis-SlidingscaleRoyaltyMember">For gold production: 1.0% on the first 100,000 ounces of gold; 2.0% on the next 400,000 ounces of gold; 3.0% on all gold production in excess of 500,000 ounces produced from the Property, and; For all production other than gold production: 3.0%.</emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement>
  <emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember_TimingOfTransferOfGoodsOrServicesAxis-PursuantToTheAgreementMember">2500</emx:DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement>
  <ifrs-full:TradeAndOtherReceivables contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="cad" decimals="0">2447595</ifrs-full:TradeAndOtherReceivables>
  <emx:AccretedInterestIncomeReceivable contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="cad" decimals="0">167718</emx:AccretedInterestIncomeReceivable>
  <emx:LongTermGoldPriceUsedForCalculations contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="usd" decimals="0">1332</emx:LongTermGoldPriceUsedForCalculations>
  <ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="pure" decimals="2">0.06</ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections>
  <emx:GainOnDisposalOfSubsidiary contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="cad" decimals="0">6683560</emx:GainOnDisposalOfSubsidiary>
  <ifrs-full:ProceedsFromDisposalOfExplorationAndEvaluationAssets contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="cad" decimals="0">6737452</ifrs-full:ProceedsFromDisposalOfExplorationAndEvaluationAssets>
  <emx:DisposalOfSubsidiaryNetAssetsOfSubsidiary contextRef="cx_01_July_2016_TO_29_July_2016_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="cad" decimals="0">53892</emx:DisposalOfSubsidiaryNetAssetsOfSubsidiary>
  <emx:ProceedsFromSharePurchaseAgreement contextRef="cx_01_February_2018_TO_05_February_2018_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="usd" decimals="0">665525</emx:ProceedsFromSharePurchaseAgreement>
  <emx:OuncesOfGoldEquivalentToPayment contextRef="cx_01_February_2018_TO_05_February_2018_CategoriesOfRelatedPartiesAxis-AesMadencilikAsMember" unitRef="pure" decimals="0">500</emx:OuncesOfGoldEquivalentToPayment>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_21_March_2013_CategoriesOfRelatedPartiesAxis-ChesserResourcesLtdMember_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="pure" decimals="2">0.51</emx:ExplorationLicenseOwnershipPercentage>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_21_March_2013_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="pure" decimals="2">0.49</emx:ExplorationLicenseOwnershipPercentage>
  <ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates contextRef="cx_21_March_2013_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="cad" decimals="0">0</ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates>
  <emx:PaymentsForExplorationAndEvaluationAssets contextRef="cx_01_March_2015_TO_20_March_2015_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="cad" decimals="0">156800</emx:PaymentsForExplorationAndEvaluationAssets>
  <emx:PaymentsForExplorationAndEvaluationAssets contextRef="cx_01_March_2015_TO_20_March_2015_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="aud" decimals="0">162092</emx:PaymentsForExplorationAndEvaluationAssets>
  <emx:GainOnAcquisitionOfExplorationAndEvaluationAssets contextRef="cx_01_March_2015_TO_20_March_2015_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="cad" decimals="0">26407</emx:GainOnAcquisitionOfExplorationAndEvaluationAssets>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_20_March_2015_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="cad" decimals="0">131440</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <emx:ProceedsFromSharePurchaseAgreement contextRef="cx_01_July_2016_TO_31_July_2016_CategoriesOfRelatedPartiesAxis-EbxMadencilikAsMember" unitRef="usd" decimals="0">250000</emx:ProceedsFromSharePurchaseAgreement>
  <emx:ProceedsFromSharePurchaseAgreement contextRef="cx_01_July_2016_TO_31_July_2016_CategoriesOfRelatedPartiesAxis-EbxMadencilikAsMember" unitRef="cad" decimals="0">332969</emx:ProceedsFromSharePurchaseAgreement>
  <emx:AnnualCashPaymentsFromSharePurchaseAgreement contextRef="cx_31_July_2016_CategoriesOfRelatedPartiesAxis-EbxMadencilikAsMember" unitRef="usd" decimals="0">125000</emx:AnnualCashPaymentsFromSharePurchaseAgreement>
  <emx:ConditionOfSharePurchaseAgreementProductionReturns contextRef="cx_01_July_2016_TO_31_July_2016_CategoriesOfRelatedPartiesAxis-EbxMadencilikAsMember">3.5% of production returns after certain deductions (&amp;#8220;NSR Payment") for ore mined from the Property that is processed on-site (increased to 5% if the ore is processed off-site).</emx:ConditionOfSharePurchaseAgreementProductionReturns>
  <emx:ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable contextRef="cx_31_July_2016_CategoriesOfRelatedPartiesAxis-EbxMadencilikAsMember" unitRef="pure" decimals="2">0.80</emx:ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable>
  <emx:PaymentOfFindersFee contextRef="cx_01_July_2016_TO_31_July_2016_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="usd" decimals="0">48740</emx:PaymentOfFindersFee>
  <emx:PaymentOfFindersFee contextRef="cx_01_July_2016_TO_31_July_2016_SpecificExplorationLicensesAxis-SisortaJointVentureMember" unitRef="cad" decimals="0">63549</emx:PaymentOfFindersFee>
  <emx:GainOnDisposalOfSubsidiary contextRef="cx_01_July_2016_TO_31_July_2016_CategoriesOfRelatedPartiesAxis-EbxMadencilikAsMember" unitRef="cad" decimals="0">86041</emx:GainOnDisposalOfSubsidiary>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-BalyaPropertyMember" unitRef="pure" decimals="2">0.04</emx:NetSmelterReturnRoyalty>
  <emx:RoyaltyInterest contextRef="cx_31_December_2016_SpecificExplorationLicensesAxis-BalyaPropertyMember" unitRef="usd" decimals="0">154299</emx:RoyaltyInterest>
  <emx:ProceedsFromAdvanceRoyaltyPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-BalyaPropertyMember" unitRef="usd" decimals="0">100000</emx:ProceedsFromAdvanceRoyaltyPayment>
  <emx:ProceedsFromAnAdjustedRoyaltyPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-BalyaPropertyMember" unitRef="usd" decimals="0">54299</emx:ProceedsFromAnAdjustedRoyaltyPayment>
  <ifrs-full:RevenueFromRoyalties contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-BalyaPropertyMember" unitRef="cad" decimals="0">40217</ifrs-full:RevenueFromRoyalties>
  <ifrs-full:RevenueFromRoyalties contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-BalyaPropertyMember" unitRef="usd" decimals="0">30762</ifrs-full:RevenueFromRoyalties>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_17_July_2012_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="pure" decimals="2">1.00</emx:ExplorationLicenseOwnershipPercentage>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceived contextRef="cx_01_January_2013_TO_31_December_2013_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="shares" decimals="0">500000</emx:GolcukTransferAndRoyaltyAgreementSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived contextRef="cx_01_January_2013_TO_31_December_2013_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="0">27500</emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare contextRef="cx_01_January_2013_TO_31_December_2013_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="3">0.055</emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceived contextRef="cx_01_January_2014_TO_31_December_2014_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="shares" decimals="0">500000</emx:GolcukTransferAndRoyaltyAgreementSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived contextRef="cx_01_January_2014_TO_31_December_2014_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="0">25000</emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare contextRef="cx_01_January_2014_TO_31_December_2014_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="2">0.05</emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceived contextRef="cx_01_February_2015_TO_28_February_2015_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="shares" decimals="0">1000000</emx:GolcukTransferAndRoyaltyAgreementSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived contextRef="cx_01_February_2015_TO_28_February_2015_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="0">115000</emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare contextRef="cx_01_February_2015_TO_28_February_2015_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="3">0.115</emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceived contextRef="cx_01_February_2016_TO_29_February_2016_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="shares" decimals="0">1000000</emx:GolcukTransferAndRoyaltyAgreementSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived contextRef="cx_01_February_2016_TO_29_February_2016_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="0">55000</emx:GolcukTransferAndRoyaltyAgreementValueOfSharesReceived>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare contextRef="cx_01_February_2016_TO_29_February_2016_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="3">0.055</emx:GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="pure" decimals="3">0.029</emx:NetSmelterReturnRoyalty>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember">Pasinex will then pay the Company a 2.9% NSR royalty from production. Pasinex may pay the first minimum royalty payment by delivering 664,483 common shares in the capital of PRL to the Royalty Holder on or before November 30, 2016 (received valued at $79,738). Pasinex has the option of purchasing 0.9% of the royalty for US$1,000,000 prior to the 6th anniversary of the effective date of the agreement.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:GolcukTransferAndRoyaltyAgreementSharesReceived contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="shares" decimals="0">224150</emx:GolcukTransferAndRoyaltyAgreementSharesReceived>
  <emx:ProceedsFromAdvanceRoyaltyPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="usd" decimals="0">49204</emx:ProceedsFromAdvanceRoyaltyPayment>
  <emx:ProceedsFromAnnualAdvanceMinimumRoyalty contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-TumadAgreementTrabTwoThreeMember" unitRef="usd" decimals="0">100000</emx:ProceedsFromAnnualAdvanceMinimumRoyalty>
  <emx:DescriptionOfTermsOfNetSmelterReturnRoyalty contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-TumadAgreementTrabTwoThreeMember">Upon production from the Trab-23 licenses, Tumad will pay the Company a 3% NSR royalty from production. The annual minimum royalties will be credited to 80% of the NSR royalty then payable.</emx:DescriptionOfTermsOfNetSmelterReturnRoyalty>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-TumadAgreementTrabTwoThreeMember" unitRef="pure" decimals="2">1.00</emx:ExplorationLicenseOwnershipPercentage>
  <emx:NetSmelterReturnRoyalty contextRef="cx_20_December_2013_SpecificExplorationLicensesAxis-FerriteAgreementAlankoyMember" unitRef="pure" decimals="2">0.03</emx:NetSmelterReturnRoyalty>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_December_2013_TO_20_December_2013_SpecificExplorationLicensesAxis-FerriteAgreementAlankoyMember" unitRef="usd" decimals="0">35000</emx:ProceedsFromOptionAgreement>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_December_2013_TO_20_December_2013_SpecificExplorationLicensesAxis-FerriteAgreementAlankoyMember" unitRef="usd" decimals="0">200000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_October_2015_TO_31_October_2015_SpecificExplorationLicensesAxis-FerriteAgreementAlankoyMember" unitRef="usd" decimals="0">25000</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_October_2015_TO_31_October_2015_SpecificExplorationLicensesAxis-FerriteAgreementAlankoyMember" unitRef="cad" decimals="0">33205</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:NetSmelterReturnRoyalty contextRef="cx_23_November_2015_SpecificExplorationLicensesAxis-BlackSeaCopperGoldAgreementAlankoyMember" unitRef="pure" decimals="2">0.03</emx:NetSmelterReturnRoyalty>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_January_2016_TO_31_January_2016_SpecificExplorationLicensesAxis-BlackSeaCopperGoldAgreementAlankoyMember" unitRef="usd" decimals="0">25000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_January_2016_TO_31_January_2016_SpecificExplorationLicensesAxis-BlackSeaCopperGoldAgreementAlankoyMember" unitRef="cad" decimals="0">35408</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromTerminationOfOptionAgreement contextRef="cx_01_February_2017_TO_28_February_2017_SpecificExplorationLicensesAxis-BlackSeaCopperGoldAgreementAlankoyMember" unitRef="usd" decimals="0">16439</emx:ProceedsFromTerminationOfOptionAgreement>
  <emx:OptionAgreementInterest contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-BlackSeaCopperGoldAgreementAlankoyMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-AktutanPropertyMember" unitRef="pure" decimals="2">0.04</emx:NetSmelterReturnRoyalty>
  <emx:ProceedsFromAdvanceRoyaltyPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-AktutanPropertyMember" unitRef="cad" decimals="0">261473</emx:ProceedsFromAdvanceRoyaltyPayment>
  <emx:ProceedsFromAdvanceRoyaltyPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-AktutanPropertyMember" unitRef="usd" decimals="0">200000</emx:ProceedsFromAdvanceRoyaltyPayment>
  <emx:OptionAgreementInterest contextRef="cx_28_February_2014_SpecificExplorationLicensesAxis-KoonenberryArastraMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:NetSmelterReturnRoyalty contextRef="cx_28_February_2014_SpecificExplorationLicensesAxis-KoonenberryArastraMember" unitRef="pure" decimals="2">0.03</emx:NetSmelterReturnRoyalty>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-KoonenberryArastraMember" unitRef="pure" decimals="2">0.03</emx:NetSmelterReturnRoyalty>
  <ifrs-full:LossesOnDisposalsOfPropertyPlantAndEquipment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-KoonenberryArastraMember" unitRef="cad" decimals="0">87987</ifrs-full:LossesOnDisposalsOfPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-KoonenberryArastraMember" unitRef="cad" decimals="0">6866</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_September_2014_TO_30_September_2014_SpecificExplorationLicensesAxis-NeavesvilleGoldsilverPropertyMember" unitRef="cad" decimals="0">100000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_December_2015_TO_31_December_2015_SpecificExplorationLicensesAxis-NeavesvilleGoldsilverPropertyMember" unitRef="cad" decimals="0">50000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_May_2016_TO_31_May_2016_SpecificExplorationLicensesAxis-NeavesvilleGoldsilverPropertyMember" unitRef="cad" decimals="0">50000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_September_2016_TO_30_September_2016_SpecificExplorationLicensesAxis-NeavesvilleGoldsilverPropertyMember" unitRef="cad" decimals="0">129562</emx:ProceedsFromOptionAgreement>
  <emx:OuncesOfGoldEquivalentToPayment contextRef="cx_01_September_2016_TO_30_September_2016_SpecificExplorationLicensesAxis-NeavesvilleGoldsilverPropertyMember" unitRef="pure" decimals="0">75</emx:OuncesOfGoldEquivalentToPayment>
  <emx:ExplorationLicenseOwnershipPercentage contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-GrandBoisGoldcopperProjectMember" unitRef="pure" decimals="2">1.00</emx:ExplorationLicenseOwnershipPercentage>
  <emx:ProceedsFromSaleOfExplorationAndEvaluationAssets contextRef="cx_01_November_2015_TO_02_November_2015_SpecificExplorationLicensesAxis-HaitiExplorationPermitsMember" unitRef="cad" decimals="0">5277542</emx:ProceedsFromSaleOfExplorationAndEvaluationAssets>
  <emx:ProceedsFromSaleOfExplorationAndEvaluationAssets contextRef="cx_01_November_2015_TO_02_November_2015_SpecificExplorationLicensesAxis-HaitiExplorationPermitsMember" unitRef="usd" decimals="0">4000000</emx:ProceedsFromSaleOfExplorationAndEvaluationAssets>
  <emx:NetSmelterReturnRoyalty contextRef="cx_02_November_2015_SpecificExplorationLicensesAxis-HaitiExplorationPermitsMember" unitRef="pure" decimals="3">0.005</emx:NetSmelterReturnRoyalty>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-BorealMetalsCorpMember" unitRef="cad" decimals="0">239088</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:NumberOfEquityInterestsInSubsidiaryAcquired contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember" unitRef="shares" decimals="0">3000000</emx:NumberOfEquityInterestsInSubsidiaryAcquired>
  <ifrs-full:EquityInterestsOfAcquirer contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-SiennaResourcesIncMember" unitRef="cad" decimals="0">750000</ifrs-full:EquityInterestsOfAcquirer>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-CopperKingMember" unitRef="cad" decimals="0">65368</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-CopperKingMember" unitRef="usd" decimals="0">50000</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="usd" decimals="0">82000</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:ProceedsFromReimbursementOfAmountsPaid contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-CopperSpringsProjectMember" unitRef="cad" decimals="0">106436</emx:ProceedsFromReimbursementOfAmountsPaid>
  <emx:OuncesOfGoldEquivalentToPayment contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="pure" decimals="0">75</emx:OuncesOfGoldEquivalentToPayment>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="0">61805</emx:ProceedsFromOptionAgreement>
  <emx:ProceedsFromOptionAgreement contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="usd" decimals="0">49204</emx:ProceedsFromOptionAgreement>
  <emx:NumberOfEquityInterestsInSubsidiaryAcquired contextRef="cx_01_January_2017_TO_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="shares" decimals="0">224150</emx:NumberOfEquityInterestsInSubsidiaryAcquired>
  <ifrs-full:EquityInterestsOfAcquirer contextRef="cx_31_December_2017_SpecificExplorationLicensesAxis-GolcukTransferAndRoyaltyAgreementMember" unitRef="cad" decimals="0">60521</ifrs-full:EquityInterestsOfAcquirer>
  <emx:AmountAppliedAgainstCapitalizedCosts contextRef="cx_01_January_2016_TO_31_December_2016_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="cad" decimals="0">105100</emx:AmountAppliedAgainstCapitalizedCosts>
  <emx:ExplorationIncomeAsOptionPayments contextRef="cx_01_January_2016_TO_31_December_2016_SpecificExplorationLicensesAxis-SuperiorWestProjectMember" unitRef="cad" decimals="0">24720</emx:ExplorationIncomeAsOptionPayments>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-HT" unitRef="cad" decimals="0">148455</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-AustriaMember" unitRef="cad" decimals="0">48767</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2016_TO_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-EuropeMember" unitRef="cad" decimals="0">146159</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-HT" unitRef="cad" decimals="0">359827</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-DE" unitRef="cad" decimals="0">107899</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-AustriaMember" unitRef="cad" decimals="0">69667</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_01_January_2015_TO_31_December_2015_ExplorationAndEvaluationAssetsByGeographyAxis-RU" unitRef="cad" decimals="0">32137</ifrs-full:ExpenseArisingFromExplorationForAndEvaluationOfMineralResources>
  <emx:DisclosureOfRoyaltyInterestExplanatoryTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;10. ROYALTY INTEREST&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Changes in royalty interest for the years ended December 31, 2017, 2016, and 2015:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                29,327,960
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Depletion&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (1,716,848
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                (3,973,699
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                5,161,567
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                28,798,980
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Acquisition&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                145,000
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Depletion&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (2,163,221
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (949,607
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2016&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                25,831,152
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Depletion&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (2,282,276
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustments&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (1,605,133
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2017&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                21,943,743
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2016, the Company acquired a
      2% NSR royalty on all precious metals and a
      1% NSR royalty on all other minerals for the Maggie Creek property (non-producing) in Nevada, and a
      1% NSR royalty on all minerals for the Afgan property (non-producing) in Nevada from Golden Predator US Holdings Corp, a wholly-owned subsidiary of Till Capital Ltd. (&amp;#8220;TCL&amp;#8221;). In consideration of the acquisition, the Company issued
      250,000
      of its common shares to TCL valued at $145,000.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Carlin Trend Royalty Claim Block&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company holds an interest in the Carlin Trend Royalty Claim Block in Nevada which includes the following Royalty Properties:&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Leeville Mine: Located in Eureka County, Nevada, the Company is receiving a continuing
      1% gross smelter return royalty (&amp;#8220;GSRR&amp;#8221;).
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      East Ore Body Mine: Located in Eureka County, Nevada, the property is currently being mined and the Company is receiving a continuing
      1% GSRR.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      North Pipeline: Located in Lander County, Nevada. Should the property become producing, the Company will receive a production royalty of US$0.50
      per yard of ore processed or
      4% of net profit, whichever is greater.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017, $2,857,927
      (2016 - $2,227,322
      ; 2015 - $1,609,553) in royalty income was included in operations offset by a
      5% direct gold tax and depletion.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Impairment of Non-Current Assets&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s policy for accounting for impairment of non-current assets is to use the higher of the estimates of fair value less cost of disposal of these assets or value in use. The Company uses valuation techniques that require significant judgments and assumptions, including those with respect to future production levels, future metal prices and discount rates.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Non-current assets are tested for impairment when events or changes in circumstances suggest that the carrying amount may not be recoverable. The Company continuously reviews the production of gold from the Carlin Trend Royalty Claim Block, expected long term gold prices to be realized, foreign exchange, and interest rates. As a result, periodically the Company revises its estimated annual gold production over the expected mine life and adjusts it&amp;#8217;s long term gold price. As a result of these adjustments, the Company recorded $Nil
      (2016 - $Nil, 2015 - $3,973,699) in impairment charges for the year ended December 31, 2017 related to the Carlin Trend Royalty Claim Block.
    &lt;/p&gt;</emx:DisclosureOfRoyaltyInterestExplanatoryTextBlock>
  <emx:DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            29,327,960
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Depletion&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (1,716,848
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            (3,973,699
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            5,161,567
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            28,798,980
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Acquisition&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            145,000
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Depletion&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (2,163,221
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (949,607
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2016&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            25,831,152
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Depletion&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (2,282,276
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustments&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (1,605,133
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2017&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            21,943,743
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock>
  <emx:RoyaltyInterest contextRef="cx_31_December_2014" unitRef="cad" decimals="0">29327960</emx:RoyaltyInterest>
  <emx:RoyaltyInterestDepletion contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">1716848</emx:RoyaltyInterestDepletion>
  <emx:RoyaltyInterestImpairmentCharge contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">3973699</emx:RoyaltyInterestImpairmentCharge>
  <emx:RoyalInterestCumulativeTranslationAdjustments contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">5161567</emx:RoyalInterestCumulativeTranslationAdjustments>
  <emx:RoyaltyInterest contextRef="cx_31_December_2015" unitRef="cad" decimals="0">28798980</emx:RoyaltyInterest>
  <emx:RoyaltyInterestAcquisition contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">145000</emx:RoyaltyInterestAcquisition>
  <emx:RoyaltyInterestDepletion contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">2163221</emx:RoyaltyInterestDepletion>
  <emx:RoyalInterestCumulativeTranslationAdjustments contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">-949607</emx:RoyalInterestCumulativeTranslationAdjustments>
  <emx:RoyaltyInterestDepletion contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">2282276</emx:RoyaltyInterestDepletion>
  <emx:RoyalInterestCumulativeTranslationAdjustments contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">-1605133</emx:RoyalInterestCumulativeTranslationAdjustments>
  <emx:NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired contextRef="cx_01_January_2016_TO_31_December_2016_RoyaltyInterestsAxis-MaggieCreekMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired>
  <emx:NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired contextRef="cx_01_January_2016_TO_31_December_2016_RoyaltyInterestsAxis-MaggieCreekMember" unitRef="pure" decimals="2">0.01</emx:NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired>
  <emx:NetSmelterReturnRoyaltyAcquired contextRef="cx_01_January_2016_TO_31_December_2016_RoyaltyInterestsAxis-AfganMember" unitRef="pure" decimals="2">0.01</emx:NetSmelterReturnRoyaltyAcquired>
  <emx:GrossSmelterReturnRoyalty contextRef="cx_31_December_2017_RoyaltyInterestsAxis-LeevilleMineMember" unitRef="pure" decimals="2">0.01</emx:GrossSmelterReturnRoyalty>
  <emx:GrossSmelterReturnRoyalty contextRef="cx_31_December_2017_RoyaltyInterestsAxis-EastOreBodyMineMember" unitRef="pure" decimals="2">0.01</emx:GrossSmelterReturnRoyalty>
  <emx:DescriptionOfProductionRoyalty contextRef="cx_01_January_2017_TO_31_December_2017_RoyaltyInterestsAxis-NorthPipelineMember">Should the property become producing, the Company will receive a production royalty of US$0.50 per yard of ore processed or 4% of net profit, whichever is greater.</emx:DescriptionOfProductionRoyalty>
  <emx:GoldTaxPercentage contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="2">0.05</emx:GoldTaxPercentage>
  <emx:DisclosureOfReclamationBondsExplanatoryTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;11. RECLAMATION BONDS&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Reclamation bonds are held as security towards future exploration work and the related future potential cost of reclamation of the Company&amp;#8217;s land and unproven mineral interests. Once reclamation of the properties is complete, the bonds will be returned to the Company.&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Australia - various properties&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
                67,694
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sweden - various properties&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                12,625
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                8,043
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkey - various properties&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                5,669
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                26,362
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;U.S.A - various properties&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                497,454
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                537,328
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                515,748
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                639,427
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;</emx:DisclosureOfReclamationBondsExplanatoryTextBlock>
  <emx:DisclosureOfDetailedInformationAboutReclamationBondsExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Australia - various properties&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
            67,694
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sweden - various properties&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            12,625
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            8,043
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkey - various properties&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            5,669
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            26,362
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;U.S.A - various properties&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            497,454
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            537,328
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            515,748
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            639,427
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutReclamationBondsExplanatoryTableTextBlock>
  <emx:ReclamationBonds contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-AU" unitRef="cad" decimals="0">0</emx:ReclamationBonds>
  <emx:ReclamationBonds contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-AU" unitRef="cad" decimals="0">67694</emx:ReclamationBonds>
  <emx:ReclamationBonds contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">12625</emx:ReclamationBonds>
  <emx:ReclamationBonds contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">8043</emx:ReclamationBonds>
  <emx:ReclamationBonds contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">5669</emx:ReclamationBonds>
  <emx:ReclamationBonds contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">26362</emx:ReclamationBonds>
  <emx:ReclamationBonds contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">497454</emx:ReclamationBonds>
  <emx:ReclamationBonds contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">537328</emx:ReclamationBonds>
  <ifrs-full:DisclosureOfGoodwillExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;12. GOODWILL&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s goodwill represents the excess of the purchase price paid during fiscal 2012 for the acquisition of Bullion Monarch Mining Inc. over the fair value of the net identifiable tangible and intangible assets and liabilities acquired.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Changes in goodwill for the year ended December 31, 2017, 2016, and 2015:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                8,217,542
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (3,047,605
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustment&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,331,949
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                6,501,886
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (1,518,328
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustment&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (230,234
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2016&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                4,753,324
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                (2,709,239
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustment&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (223,778
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2017&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,820,307
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company applies a one-step approach to determine if the Carlin Trend Royalty Claim Block and the related assets within the same Cash Generating Unit (&amp;#8220;CGU&amp;#8221;) are impaired (Note 10). The impairment loss is the amount by which the CGU&amp;#8217;s carrying amount exceeds its recoverable amount. There was no impairment for the royalty interest and goodwill has been written down in conjunction with the decline of $2,709,239
      (2016 - $1,518,328, 2015 - $3,047,605) of the related deferred income tax liability.
    &lt;/p&gt;</ifrs-full:DisclosureOfGoodwillExplanatory>
  <ifrs-full:DisclosureOfReconciliationOfChangesInGoodwillExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            8,217,542
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (3,047,605
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustment&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,331,949
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            6,501,886
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (1,518,328
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustment&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (230,234
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2016&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            4,753,324
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Adjusted for:&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Impairment charge&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            (2,709,239
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Cumulative translation adjustment&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (223,778
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance, December 31, 2017&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,820,307
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInGoodwillExplanatory>
  <ifrs-full:Goodwill contextRef="cx_31_December_2014" unitRef="cad" decimals="0">8217542</ifrs-full:Goodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">1331949</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:Goodwill contextRef="cx_31_December_2015" unitRef="cad" decimals="0">6501886</ifrs-full:Goodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">-230234</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">-223778</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill>
  <ifrs-full:DisclosureOfJointVenturesExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;13. ADVANCES FROM JOINT VENTURE PARTNERS&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Advances from joint venture partners relate to unspent funds received pursuant to approved exploration programs by the Company and its joint venture partners. The Company&amp;#8217;s advances from joint venture partners consist of the following:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;U.S.A.&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                808,905
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                341,361
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                808,905
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                341,361
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;</ifrs-full:DisclosureOfJointVenturesExplanatory>
  <ifrs-full:DisclosureOfJointOperationsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;U.S.A.&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            808,905
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            341,361
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            808,905
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            341,361
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfJointOperationsExplanatory>
  <emx:AdvancesFromJointVenturePartners contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">808905</emx:AdvancesFromJointVenturePartners>
  <emx:AdvancesFromJointVenturePartners contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">341361</emx:AdvancesFromJointVenturePartners>
  <ifrs-full:DisclosureOfIssuedCapitalExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;14. CAPITAL STOCK&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Authorized&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017, the authorized share capital of the Company was an unlimited number of common and preferred shares without par value.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Common Shares&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the years ended December 31, 2017, 2016, and 2015, the Company:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="5%"&gt;&amp;#8226;&lt;/td&gt;
        &lt;td align="left" width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
            Completed a non-brokered private placement raising $7,000,000
            by the issuance of
            5,000,000
            units at a price of $1.40
            per Unit. Each Unit was comprised of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share for $2.00
            until April 12, 2019.
          &lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
            The Company incurred share issue costs totaling $438,018. Included in this amount was
            246,604
            Units (
            6% of the Units sold to investors introduced by finders) valued at $345,246
            and $92,772
            in cash. The units paid as finders fees included the same terms as the private placement Units.
          &lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
            The gross proceeds of the private placement were allocated using a residual value method with respect to the measurement of shares and warrants issued as private placement units. This resulted in $6,200,000
            recorded as share capital and $800,000
            being allocated to reserves. For the finders fees paid in Units, $305,789
            was allocated to capital and $39,457
            was allocated to reserves .
          &lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="5%"&gt;&amp;#8226;&lt;/td&gt;
        &lt;td align="left" width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
            Issued
            75,000
            (2016 -
            165,000
            ; 2015 -
            nil) shares valued at $85,700
            (2016 - $127,800
            ; 2015 - $Nil) pursuant to the exercise of stock options.
          &lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="5%"&gt;&amp;#8226;&lt;/td&gt;
        &lt;td align="left" width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
            Issued
            68,873
            shares valued at $79,190
            pursuant to employment and consulting agreements, of which the full amount has been included in exploration expenditures. Included in commitment to issue shares is $23,825
            for accruals in exploration expenditures for shares approved to be issued pursuant to an employment and consulting agreement for shares issued in January 2018.
          &lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="5%"&gt;&amp;#8226;&lt;/td&gt;
        &lt;td align="left" width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
            Issued
            245,000
            (2016 -
            140,000
            ; 2015 &amp;#8211;
            163,000) shares valued at $279,300
            (2016 - $166,600
            ; 2015 &amp;#8211; $233,950) pursuant to an incentive stock grant program to employees of the Company. The shares issued for 2016 and 2015 were applied against commitment to issue as they related to prior period accruals.
          &lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" width="5%"&gt;&amp;#8226;&lt;/td&gt;
        &lt;td align="left" width="90%"&gt;
          &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
            Issued
            nil
            (2016 -
            250,000
            ; 2015 &amp;#8211;
            nil) shares valued at $Nil
            (2016 - $145,000
            ; 2015 - $Nil) pursuant to a purchase agreement for the Maggie Creek and Afgan royalties (Note 10).
          &lt;/p&gt;
        &lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Stock Options&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company adopted a stock option plan (the &amp;#8220;Plan&amp;#8221;) pursuant to the policies of the TSX-V. The maximum number of shares that may be reserved for issuance under the plan is limited to
      10% of the issued common shares of the Company at any time. The vesting terms are determined at the time of the grant, subject to the terms of the plan.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the years ended December 31, 2017, 2016, and 2015, the change in stock options outstanding is as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              &lt;b&gt;Weighted Average&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              &lt;b&gt;Number&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              &lt;b&gt;Exercise Price&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2014&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              5,493,200
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              2.03
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Granted&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              1,341,500
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              0.66
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              (1,406,200
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              2.12
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2015&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              5,428,500
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              1.67
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Granted&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              1,277,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              1.30
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Exercised&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              (165,000
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              0.77
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              (1,729,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              2.66
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2016&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              4,811,500
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              1.24
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Granted&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              1,472,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              1.20
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Exercised&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              (75,000
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="12%"&gt;
              1.14
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              (961,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              1.97
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2017&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              5,247,500
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              1.10
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr&gt;
            &lt;td bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Number of options exercisable as at December 31, 2017&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              5,235,000
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              1.10
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The following table summarizes information about the stock options which were outstanding and exercisable at December 31, 2017:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                &lt;b&gt;Date Granted&lt;/b&gt;
              &lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Number of Options&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Exercisable&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Exercise Price $&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expiry Date&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;April 25, 2014&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
              1,290,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
              1,290,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
              1.20
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;April 25, 2019&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;June 26, 2014&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              17,500
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              17,500
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              0.88
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;June 26, 2019&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;December 22, 2014&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              60,000
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              60,000
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              0.87
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;December 22, 2019&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;June 8, 2015&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              1,167,500
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              1,167,500
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              0.66
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;June 8, 2020&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;October 18, 2016&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              1,239,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              1,239,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              1.30
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;October 18, 2021&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;August 28, 2017*&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              1,472,500
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              1,460,000
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              1.20
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;August 28, 2022&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr&gt;
            &lt;td bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              5,247,500
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              5,235,000
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      *
      25,000
      Options granted for investor relations services vest
      25% every
      3
      months from the date of grant.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The weighted average remaining useful life of stock options is
      3.10
      years (2016 &amp;#8211;
      2.92
      years; 2015 &amp;#8211;
      3.56
      years).
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Restricted share units&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;In 2017, the Company introduced a long-term restricted share unit plan (&amp;#8220;RSUs&amp;#8221;). The RSU&amp;#8217;s entitle employees, directors, or officers to common shares of the Company upon vesting based on vesting terms determined by the Company&amp;#8217;s Board of Directors at the time of grant.&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Expiry Date&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;December 31, 2016&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;Granted&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;Vested&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;Expired/Cancelled&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;December 31, 2017&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;December 31, 2019&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
              312,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
              312,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The total RSU share-based expense recognized in the consolidated statements of comprehensive loss was $27,575
      for the year ended December 31, 2017. The RSU&amp;#8217;s had a a fair value of $1.01
      per unit on grant date.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Share-based Payments&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      During the year ended December 31, 2017, the Company recorded aggregate share-based payments of $1,415,639
      (2016 - $970,796
      ; 2015 - $542,513) as they relate to the fair value of stock options granted or vested during the period, fair value of incentive stock grants, the fair value of RSU&amp;#8217;s vested during the period, and the accrual for the fair value of stock granted. Share-based payments for the years ended December 31, 2017, 2016, and 2015 are allocated to expense accounts as follow:
    &lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;General and&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
              &lt;b&gt;Administrative&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
              &lt;b&gt;Exploration&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                &lt;b&gt;Year ended December 31, 2017&lt;/b&gt;
              &lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expenses&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expenditures&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Total&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Shares issued for services&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              85,500
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              272,990
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              358,490
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Commitment to issue shares&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              23,825
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              23,825
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;RSU's vested&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              27,575
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              27,575
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Fair value of stock options granted&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              562,979
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              442,770
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              1,005,749
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              676,054
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              739,585
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              1,415,639
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
    &lt;br/&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;General and&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
              &lt;b&gt;Administrative&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
              &lt;b&gt;Exploration&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                &lt;b&gt;Year ended December 31, 2016&lt;/b&gt;
              &lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expenses&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expenditures&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Total&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Commitment to issue shares&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              27,462
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              &amp;#160;
              -
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              27,462
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Fair value of stock options granted&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              440,477
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              502,857
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              943,334
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              467,939
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              502,857
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              970,796
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
    &lt;br/&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;General and&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
              &lt;b&gt;Administrative&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
              &lt;b&gt;Exploration&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                &lt;b&gt;Year ended December 31, 2015&lt;/b&gt;
              &lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expenses&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expenditures&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Total&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Commitment to issue shares&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              100,233
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              (34,144
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              66,089
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Fair value of stock options granted&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              369,883
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              106,541
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              476,424
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              100,233
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              (34,144
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              542,513
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The weighted average fair value of the stock options granted during the year ended December 31, 2017 was $0.70
      per stock option (2016 - $0.74
      ; 2015 - $0.36) . The fair value of stock options granted was estimated using the Black-Scholes option pricing model with weighted average assumptions as follows:
    &lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Year ended&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Year ended&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Year ended&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;December 31, 2017&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;December 31, 2016&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;December 31, 2015&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Risk free interest rate&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              1.53%
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              0.73%
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              1.02%
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Expected life (years)&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              5
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              5
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" valign="bottom" width="10%"&gt;
              5
            &lt;/td&gt;
            &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Expected volatility&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              70.81%
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              69.80%
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
              62.33%
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Dividend yield&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Warrants&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;During the years ended December 31, 2017, 2016, and 2015, the change in warrants outstanding is as follow:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              &lt;b&gt;Weighted Average&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              &lt;b&gt;Number&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              &lt;b&gt;Exercise Price&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2014&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              9,175,533
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              4.56
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              (9,175,533
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              4.56
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2015 and 2016&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
              -
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Issued&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              2,623,306
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              2.00
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2017&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              2,623,306
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
              2.00
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The following table summarizes information about the warrants which were outstanding and exercisable at December 31, 2017:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Number of Warrants&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Exercise Price&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              &lt;b&gt;Expiry Date&lt;/b&gt;
            &lt;/td&gt;
            &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Private placement, April 12, 2017&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
              2,500,004
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
              2.00
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;April 12, 2019&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Finders warrants, April 12, 2017&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              123,302
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              2.00
            &lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;April 12, 2019&lt;/td&gt;
            &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
          &lt;tr valign="top"&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
              &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
              2,623,306
            &lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
            &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;/tr&gt;
        &lt;/table&gt;</ifrs-full:DisclosureOfIssuedCapitalExplanatory>
  <ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          &lt;b&gt;Weighted Average&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          &lt;b&gt;Number&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          &lt;b&gt;Exercise Price&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2014&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          5,493,200
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          2.03
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Granted&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          1,341,500
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          0.66
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          (1,406,200
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          2.12
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2015&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          5,428,500
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          1.67
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Granted&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          1,277,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          1.30
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Exercised&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          (165,000
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          0.77
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          (1,729,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          2.66
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2016&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          4,811,500
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          1.24
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Granted&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          1,472,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          1.20
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Exercised&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          (75,000
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="12%"&gt;
          1.14
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          (961,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          1.97
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2017&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          5,247,500
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          1.10
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Number of options exercisable as at December 31, 2017&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          5,235,000
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          1.10
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2014" unitRef="pure" decimals="0">5493200</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2014" unitRef="cad" decimals="2">2.03</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="pure" decimals="0">1341500</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="2">0.66</ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="pure" decimals="0">1406200</ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="2">2.12</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2015" unitRef="pure" decimals="0">5428500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2015" unitRef="cad" decimals="2">1.67</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="pure" decimals="0">1277500</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="2">1.30</ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="pure" decimals="0">165000</ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="2">0.77</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="pure" decimals="0">1729500</ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="2">2.66</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2016" unitRef="pure" decimals="0">4811500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2016" unitRef="cad" decimals="2">1.24</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">1472500</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="2">1.20</ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">75000</ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="2">1.14</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">961500</ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="2">1.97</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2017" unitRef="pure" decimals="0">5247500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2017" unitRef="cad" decimals="2">1.10</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017" unitRef="pure" decimals="0">5235000</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017" unitRef="cad" decimals="2">1.10</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
            &lt;b&gt;Date Granted&lt;/b&gt;
          &lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Number of Options&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Exercisable&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Exercise Price $&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expiry Date&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;April 25, 2014&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
          1,290,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
          1,290,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
          1.20
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;April 25, 2019&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;June 26, 2014&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          17,500
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          17,500
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          0.88
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;June 26, 2019&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;December 22, 2014&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          60,000
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          60,000
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          0.87
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;December 22, 2019&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;June 8, 2015&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          1,167,500
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          1,167,500
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          0.66
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;June 8, 2020&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;October 18, 2016&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          1,239,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          1,239,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          1.30
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;October 18, 2021&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;August 28, 2017*&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          1,472,500
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          1,460,000
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          1.20
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;August 28, 2022&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr&gt;
        &lt;td bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          5,247,500
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          5,235,000
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedAprilTwoFiveTwoZeroOneFourMember" unitRef="pure" decimals="0">1290500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedAprilTwoFiveTwoZeroOneFourMember" unitRef="pure" decimals="0">1290500</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:ExercisePriceOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedAprilTwoFiveTwoZeroOneFourMember" unitRef="cad" decimals="2">1.20</ifrs-full:ExercisePriceOfOutstandingShareOptions>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedJuneTwoSixTwoZeroOneFourMember" unitRef="pure" decimals="0">17500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedJuneTwoSixTwoZeroOneFourMember" unitRef="pure" decimals="0">17500</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:ExercisePriceOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedJuneTwoSixTwoZeroOneFourMember" unitRef="cad" decimals="2">0.88</ifrs-full:ExercisePriceOfOutstandingShareOptions>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedDecemberTwoTwoTwoZeroOneFourMember" unitRef="pure" decimals="0">60000</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedDecemberTwoTwoTwoZeroOneFourMember" unitRef="pure" decimals="0">60000</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:ExercisePriceOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedDecemberTwoTwoTwoZeroOneFourMember" unitRef="cad" decimals="2">0.87</ifrs-full:ExercisePriceOfOutstandingShareOptions>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedJuneEightTwoZeroOneFiveMember" unitRef="pure" decimals="0">1167500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedJuneEightTwoZeroOneFiveMember" unitRef="pure" decimals="0">1167500</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:ExercisePriceOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedJuneEightTwoZeroOneFiveMember" unitRef="cad" decimals="2">0.66</ifrs-full:ExercisePriceOfOutstandingShareOptions>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedOctoberOneEightTwoZeroOneSixMember" unitRef="pure" decimals="0">1239500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedOctoberOneEightTwoZeroOneSixMember" unitRef="pure" decimals="0">1239500</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:ExercisePriceOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedOctoberOneEightTwoZeroOneSixMember" unitRef="cad" decimals="2">1.30</ifrs-full:ExercisePriceOfOutstandingShareOptions>
  <ifrs-full:NumberOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedAugustTwoEightTwoZeroOneSevenMember" unitRef="pure" decimals="0">1472500</ifrs-full:NumberOfOutstandingShareOptions>
  <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedAugustTwoEightTwoZeroOneSevenMember" unitRef="pure" decimals="0">1460000</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
  <ifrs-full:ExercisePriceOfOutstandingShareOptions contextRef="cx_31_December_2017_StockOptionsByDateGrantedAxis-GrantedAugustTwoEightTwoZeroOneSevenMember" unitRef="cad" decimals="2">1.20</ifrs-full:ExercisePriceOfOutstandingShareOptions>
  <emx:DisclosureOfDetailedInformationAboutUnitsActivityExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Expiry Date&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;December 31, 2016&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;Granted&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;Vested&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;Expired/Cancelled&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;December 31, 2017&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;December 31, 2019&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
          312,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%"&gt;
          312,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutUnitsActivityExplanatory>
  <ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2016" unitRef="pure" decimals="0">0</ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">312500</ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted>
  <ifrs-full:NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">0</ifrs-full:NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">0</ifrs-full:NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement>
  <ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2017" unitRef="pure" decimals="0">312500</ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement>
  <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;General and&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
          &lt;b&gt;Administrative&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
          &lt;b&gt;Exploration&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
            &lt;b&gt;Year ended December 31, 2017&lt;/b&gt;
          &lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expenses&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expenditures&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Total&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Shares issued for services&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          85,500
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          272,990
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          358,490
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Commitment to issue shares&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          23,825
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          23,825
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;RSU's vested&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          27,575
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          27,575
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Fair value of stock options granted&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          562,979
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          442,770
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          1,005,749
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          676,054
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          739,585
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          1,415,639
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember_TypesOfSharebasedPaymentArrangementsAxis-SharesIssuedForServicesMember" unitRef="cad" decimals="0">85500</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExpensesAxis-ExplorationExpendituresMember_TypesOfSharebasedPaymentArrangementsAxis-SharesIssuedForServicesMember" unitRef="cad" decimals="0">272990</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_TypesOfSharebasedPaymentArrangementsAxis-SharesIssuedForServicesMember" unitRef="cad" decimals="0">358490</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">0</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember_ComponentsOfExpensesAxis-ExplorationExpendituresMember" unitRef="cad" decimals="0">23825</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember" unitRef="cad" decimals="0">23825</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember_TypesOfSharebasedPaymentArrangementsAxis-RestrictedShareUnitsVestedMember" unitRef="cad" decimals="0">27575</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExpensesAxis-ExplorationExpendituresMember_TypesOfSharebasedPaymentArrangementsAxis-RestrictedShareUnitsVestedMember" unitRef="cad" decimals="0">0</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_TypesOfSharebasedPaymentArrangementsAxis-RestrictedShareUnitsVestedMember" unitRef="cad" decimals="0">27575</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">562979</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExpensesAxis-ExplorationExpendituresMember_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember" unitRef="cad" decimals="0">442770</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember" unitRef="cad" decimals="0">1005749</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">676054</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfExpensesAxis-ExplorationExpendituresMember" unitRef="cad" decimals="0">739585</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">1415639</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="cx_01_January_2016_TO_31_December_2016">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;General and&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
          &lt;b&gt;Administrative&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
          &lt;b&gt;Exploration&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
            &lt;b&gt;Year ended December 31, 2016&lt;/b&gt;
          &lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expenses&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expenditures&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Total&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Commitment to issue shares&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          27,462
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          &amp;#160;
          -
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          27,462
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Fair value of stock options granted&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          440,477
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          502,857
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          943,334
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          467,939
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          502,857
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          970,796
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">27462</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember_ComponentsOfExpensesAxis-ExplorationExpendituresMember" unitRef="cad" decimals="0">0</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember" unitRef="cad" decimals="0">27462</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">440477</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_ComponentsOfExpensesAxis-ExplorationExpendituresMember_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember" unitRef="cad" decimals="0">502857</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember" unitRef="cad" decimals="0">943334</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">467939</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016_ComponentsOfExpensesAxis-ExplorationExpendituresMember" unitRef="cad" decimals="0">502857</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">970796</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="cx_01_January_2015_TO_31_December_2015">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;General and&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
          &lt;b&gt;Administrative&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" valign="bottom" width="10%"&gt;
          &lt;b&gt;Exploration&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
            &lt;b&gt;Year ended December 31, 2015&lt;/b&gt;
          &lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expenses&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expenditures&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Total&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Commitment to issue shares&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          100,233
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          (34,144
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          66,089
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Fair value of stock options granted&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          369,883
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          106,541
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          476,424
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          100,233
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          (34,144
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          542,513
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">100233</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember_ComponentsOfExpensesAxis-ExplorationExpendituresMember" unitRef="cad" decimals="0">-34144</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_TypesOfSharebasedPaymentArrangementsAxis-CommitmentToIssueBonusSharesMember" unitRef="cad" decimals="0">66089</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">369883</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_ComponentsOfExpensesAxis-ExplorationExpendituresMember_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember" unitRef="cad" decimals="0">106541</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_TypesOfSharebasedPaymentArrangementsAxis-FairValueOfStockOptionsGrantedMember" unitRef="cad" decimals="0">476424</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_ComponentsOfExpensesAxis-GeneralAndAdministrativeExpensesMember" unitRef="cad" decimals="0">100233</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015_ComponentsOfExpensesAxis-ExplorationExpendituresMember" unitRef="cad" decimals="0">-34144</ifrs-full:ShareIssueRelatedCost>
  <ifrs-full:ShareIssueRelatedCost contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">542513</ifrs-full:ShareIssueRelatedCost>
  <emx:DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Year ended&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Year ended&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Year ended&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;December 31, 2017&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;December 31, 2016&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;December 31, 2015&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Risk free interest rate&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          1.53%
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          0.73%
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          1.02%
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Expected life (years)&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          5
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          5
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" valign="bottom" width="10%"&gt;
          5
        &lt;/td&gt;
        &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Expected volatility&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          70.81%
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          69.80%
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
          62.33%
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Dividend yield&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory>
  <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="4">0.0153</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
  <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="pure" decimals="4">0.0073</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
  <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="pure" decimals="4">0.0102</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="pure" decimals="0">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="pure" decimals="0">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="4">0.7081</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
  <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="pure" decimals="4">0.6980</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
  <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="pure" decimals="4">0.6233</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
  <ifrs-full:ExpectedDividendShareOptionsGranted contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">0</ifrs-full:ExpectedDividendShareOptionsGranted>
  <ifrs-full:ExpectedDividendShareOptionsGranted contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">0</ifrs-full:ExpectedDividendShareOptionsGranted>
  <ifrs-full:ExpectedDividendShareOptionsGranted contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">0</ifrs-full:ExpectedDividendShareOptionsGranted>
  <emx:DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          &lt;b&gt;Weighted Average&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          &lt;b&gt;Number&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          &lt;b&gt;Exercise Price&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2014&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          9,175,533
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          4.56
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Expired&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          (9,175,533
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          4.56
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2015 and 2016&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
          -
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;Issued&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          2,623,306
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          2.00
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Balance as at December 31, 2017&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          2,623,306
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
          2.00
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory>
  <emx:NumberOfOutstandingWarrants contextRef="cx_31_December_2014" unitRef="pure" decimals="0">9175533</emx:NumberOfOutstandingWarrants>
  <emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2014" unitRef="cad" decimals="2">4.56</emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement>
  <emx:NumberOfWarrantsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="pure" decimals="0">9175533</emx:NumberOfWarrantsExpiredInSharebasedPaymentArrangement>
  <emx:WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="2">4.56</emx:WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement>
  <emx:NumberOfOutstandingWarrants contextRef="cx_31_December_2015" unitRef="pure" decimals="0">0</emx:NumberOfOutstandingWarrants>
  <emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2015" unitRef="cad" decimals="0">0</emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement>
  <emx:NumberOfWarrantsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="0">2623306</emx:NumberOfWarrantsGrantedInSharebasedPaymentArrangement>
  <emx:WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="2">2.00</emx:WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement>
  <emx:NumberOfOutstandingWarrants contextRef="cx_31_December_2017" unitRef="pure" decimals="0">2623306</emx:NumberOfOutstandingWarrants>
  <emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2017" unitRef="cad" decimals="2">2.00</emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement>
  <emx:DisclosureOfDetailedInformationAboutWarrantsOutstandingExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Number of Warrants&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Exercise Price&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          &lt;b&gt;Expiry Date&lt;/b&gt;
        &lt;/td&gt;
        &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Private placement, April 12, 2017&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
          2,500,004
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
          2.00
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;April 12, 2019&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Finders warrants, April 12, 2017&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          123,302
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          2.00
        &lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;April 12, 2019&lt;/td&gt;
        &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr valign="top"&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
          &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
          2,623,306
        &lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
        &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
      &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutWarrantsOutstandingExplanatory>
  <emx:NumberOfOutstandingWarrants contextRef="cx_31_December_2017_CategoriesOfWarrantsOutstandingAxis-PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" unitRef="pure" decimals="0">2500004</emx:NumberOfOutstandingWarrants>
  <emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2017_CategoriesOfWarrantsOutstandingAxis-PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" unitRef="cad" decimals="2">2.00</emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement>
  <emx:NumberOfOutstandingWarrants contextRef="cx_31_December_2017_CategoriesOfWarrantsOutstandingAxis-FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" unitRef="pure" decimals="0">123302</emx:NumberOfOutstandingWarrants>
  <emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement contextRef="cx_31_December_2017_CategoriesOfWarrantsOutstandingAxis-FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" unitRef="cad" decimals="2">2.00</emx:WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement>
  <emx:EquityIssuancePricePerUnit contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad_shares" decimals="2">1.40</emx:EquityIssuancePricePerUnit>
  <emx:ShareIssueCosts contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">438018</emx:ShareIssueCosts>
  <emx:FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="2">0.06</emx:FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders>
  <emx:IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="shares" decimals="0">0</emx:IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions>
  <ifrs-full:IncreaseDecreaseThroughExerciseOfOptions contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">0</ifrs-full:IncreaseDecreaseThroughExerciseOfOptions>
  <emx:IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="shares" decimals="0">68873</emx:IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements>
  <emx:IncreaseDecreaseThroughEmploymentAndConsultingAgreements contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">79190</emx:IncreaseDecreaseThroughEmploymentAndConsultingAgreements>
  <emx:SharesIssuedPursuantToAnIncentiveStockGrantProgramShares contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="shares" decimals="0">245000</emx:SharesIssuedPursuantToAnIncentiveStockGrantProgramShares>
  <emx:SharesIssuedPursuantToAnIncentiveStockGrantProgramShares contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="shares" decimals="0">140000</emx:SharesIssuedPursuantToAnIncentiveStockGrantProgramShares>
  <emx:SharesIssuedPursuantToAnIncentiveStockGrantProgramShares contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="shares" decimals="0">163000</emx:SharesIssuedPursuantToAnIncentiveStockGrantProgramShares>
  <emx:SharesIssuedPursuantToAnIncentiveStockGrantProgram contextRef="cx_01_January_2017_TO_31_December_2017_ComponentsOfEquityAxis-IssuedCapitalMember" unitRef="cad" decimals="0">279300</emx:SharesIssuedPursuantToAnIncentiveStockGrantProgram>
  <emx:SharesIssuedPursuantToAnIncentiveStockGrantProgram contextRef="cx_01_January_2016_TO_31_December_2016_ComponentsOfEquityAxis-IssuedCapitalMember" unitRef="cad" decimals="0">166600</emx:SharesIssuedPursuantToAnIncentiveStockGrantProgram>
  <emx:SharesIssuedPursuantToAnIncentiveStockGrantProgram contextRef="cx_01_January_2015_TO_31_December_2015_ComponentsOfEquityAxis-IssuedCapitalMember" unitRef="cad" decimals="0">233950</emx:SharesIssuedPursuantToAnIncentiveStockGrantProgram>
  <emx:IncreaseDecreateThroughSharesIssuedForPropertyShares contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="shares" decimals="0">0</emx:IncreaseDecreateThroughSharesIssuedForPropertyShares>
  <emx:IncreaseDecreateThroughSharesIssuedForPropertyShares contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="shares" decimals="0">250000</emx:IncreaseDecreateThroughSharesIssuedForPropertyShares>
  <emx:IncreaseDecreateThroughSharesIssuedForPropertyShares contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="shares" decimals="0">0</emx:IncreaseDecreateThroughSharesIssuedForPropertyShares>
  <emx:IncreaseDecreateThroughSharesIssuedForProperty contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">0</emx:IncreaseDecreateThroughSharesIssuedForProperty>
  <emx:IncreaseDecreateThroughSharesIssuedForProperty contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">145000</emx:IncreaseDecreateThroughSharesIssuedForProperty>
  <emx:IncreaseDecreateThroughSharesIssuedForProperty contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">0</emx:IncreaseDecreateThroughSharesIssuedForProperty>
  <emx:DescriptionOfStockOptionPlan contextRef="cx_01_January_2017_TO_31_December_2017">The maximum number of shares that may be reserved for issuance under the plan is limited to 10% of the issued common shares of the Company at any time.</emx:DescriptionOfStockOptionPlan>
  <emx:DescriptionOfOptionVestingSchedule contextRef="cx_01_January_2017_TO_31_December_2017_StockOptionsByDateGrantedAxis-GrantedAugustTwoEightTwoZeroOneSevenMember">25,000 Options granted for investor relations services vest 25% every 3 months from the date of grant.</emx:DescriptionOfOptionVestingSchedule>
  <ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions contextRef="cx_31_December_2017" unitRef="y" decimals="2">3.10</ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions>
  <ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions contextRef="cx_31_December_2016" unitRef="y" decimals="2">2.92</ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions>
  <ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions contextRef="cx_31_December_2015" unitRef="y" decimals="2">3.56</ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions>
  <emx:RestrictedShareUnitsFairValuePerUnitOnGrantDate contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="2">1.01</emx:RestrictedShareUnitsFairValuePerUnitOnGrantDate>
  <emx:WeightedAverageFairValueOfTheStockOptionsGranted contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="2">0.70</emx:WeightedAverageFairValueOfTheStockOptionsGranted>
  <emx:WeightedAverageFairValueOfTheStockOptionsGranted contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="2">0.74</emx:WeightedAverageFairValueOfTheStockOptionsGranted>
  <emx:WeightedAverageFairValueOfTheStockOptionsGranted contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="2">0.36</emx:WeightedAverageFairValueOfTheStockOptionsGranted>
  <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;15. INCOME TAXES&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Deferred Income Tax Liability&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The tax effects of temporary differences between amounts recorded in the Company&amp;#8217;s accounts and the corresponding amounts as computed for income tax purposes gives rise to deferred tax liabities as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Royalty interest&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                (4,159,013
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                (8,090,497
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                (9,053,435
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Tax loss carryforwards&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                2,261,886
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                3,212,368
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                2,433,008
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                76,820
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                124,805
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                118,541
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (1,820,307
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (4,753,324
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (6,501,886
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017, no deferred tax assets are recognized on the following temporary differences as it is not probable that sufficient future taxable profit will be available to realize such assets:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;Expiry Date Range&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Tax loss carry forwards&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                42,094,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                39,318,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                37,728,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                2026
                -
                2037
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Exploration and evaluation assets&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                1,485,000
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                2,137,000
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                10,022,960
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;No expiry&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                10,425,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                11,371,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                8,385,770
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;No expiry&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Income Tax Expense&lt;/b&gt;
    &lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Current tax expense&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Deferred tax recovery&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (2,489,902
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (1,439,332
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (3,431,230
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (2,489,902
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (1,439,332
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (3,431,230
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The provision for income taxes differs from the amount calculated using the Canadian federal and provincial statutory income tax rates of
      27.00% (2016 &amp;#8211;
      26%; 2015 &amp;#8211;
      26.00%) as follows:
    &lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Expected income tax (recovery)&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                (2,569,654
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                (886,149
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                (2,679,842
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Effect of lower tax rates in foreign jurisdictions&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                (1,534,592
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                (474,971
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                (2,393,803
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Permanent differences&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,007,427
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,010,562
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                2,594,459
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Change in unrecognized deductible temporary differences and other&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                260,595
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                (1,428,442
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                (60,006
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Foreign exchange&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                346,322
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                339,668
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (892,038
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (2,489,902
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (1,439,332
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                (3,431,230
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In September 2017, the British Columbia (BC) Government proposed changes to the general corporate income tax rate to increase the rate from
      11% to
      12% effective January 1, 2018 and onwards. This change in tax rate was substantively enacted on October 26, 2017. The relevant deferred tax balances have been remeasured to reflect the increase in the Company's combined Federal and Provincial (BC) general corporate income tax rate from
      26% to
      27%.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      In December 2017, the United States Government proposed changes to the Federal corporate income tax rate to reduce the rate from
      35% to
      21% effective January 1, 2018 and onwards. This change in tax rate was substantively enacted on December 22, 2017. The relevant deferred tax balances have been remeasured to reflect the decrease in the Company's Federal income tax rate from
      35% to
      21% applicable to the Company's US subsidiaries.
    &lt;/p&gt;</ifrs-full:DisclosureOfIncomeTaxExplanatory>
  <ifrs-full:DisclosureOfDeferredTaxesExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Royalty interest&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            (4,159,013
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            (8,090,497
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            (9,053,435
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Tax loss carryforwards&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            2,261,886
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            3,212,368
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            2,433,008
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            76,820
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            124,805
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            118,541
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (1,820,307
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (4,753,324
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (6,501,886
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfDeferredTaxesExplanatory>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2017_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-RoyaltyInterestMember" unitRef="cad" decimals="0">4159013</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2016_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-RoyaltyInterestMember" unitRef="cad" decimals="0">8090497</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2015_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-RoyaltyInterestMember" unitRef="cad" decimals="0">9053435</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2017_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-UnusedTaxLossesMember" unitRef="cad" decimals="0">-2261886</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2016_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-UnusedTaxLossesMember" unitRef="cad" decimals="0">-3212368</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2015_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-UnusedTaxLossesMember" unitRef="cad" decimals="0">-2433008</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2017_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-TemporaryDifferenceMember" unitRef="cad" decimals="0">-76820</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2016_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-TemporaryDifferenceMember" unitRef="cad" decimals="0">-124805</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2015_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-TemporaryDifferenceMember" unitRef="cad" decimals="0">-118541</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DeferredTaxLiabilities contextRef="cx_31_December_2015" unitRef="cad" decimals="0">6501886</ifrs-full:DeferredTaxLiabilities>
  <ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;Expiry Date Range&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Tax loss carry forwards&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            42,094,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            39,318,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            37,728,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            2026
            -
            2037
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Exploration and evaluation assets&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            1,485,000
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            2,137,000
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            10,022,960
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;No expiry&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Other&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            10,425,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            11,371,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            8,385,770
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;No expiry&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory>
  <ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised contextRef="cx_31_December_2017_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-UnusedTaxLossesMember" unitRef="cad" decimals="0">42094000</ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised>
  <ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised contextRef="cx_31_December_2016_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-UnusedTaxLossesMember" unitRef="cad" decimals="0">39318000</ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised>
  <ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised contextRef="cx_31_December_2015_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-UnusedTaxLossesMember" unitRef="cad" decimals="0">37728000</ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised>
  <ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised contextRef="cx_31_December_2017_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-ExplorationAndEvaluationAssetsMember" unitRef="cad" decimals="0">1485000</ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised>
  <ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised contextRef="cx_31_December_2016_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-ExplorationAndEvaluationAssetsMember" unitRef="cad" decimals="0">2137000</ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised>
  <ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised contextRef="cx_31_December_2015_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-ExplorationAndEvaluationAssetsMember" unitRef="cad" decimals="0">10022960</ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised>
  <ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised contextRef="cx_31_December_2017_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-TemporaryDifferenceMember" unitRef="cad" decimals="0">10425000</ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised>
  <ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised contextRef="cx_31_December_2016_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-TemporaryDifferenceMember" unitRef="cad" decimals="0">11371000</ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised>
  <ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised contextRef="cx_31_December_2015_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-TemporaryDifferenceMember" unitRef="cad" decimals="0">8385770</ifrs-full:DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised>
  <emx:DisclosureOfIncomeTaxExpenseExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Current tax expense&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Deferred tax recovery&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (2,489,902
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (1,439,332
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (3,431,230
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (2,489,902
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (1,439,332
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (3,431,230
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfIncomeTaxExpenseExplanatoryTableTextBlock>
  <ifrs-full:CurrentTaxExpenseIncome contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">0</ifrs-full:CurrentTaxExpenseIncome>
  <ifrs-full:CurrentTaxExpenseIncome contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">0</ifrs-full:CurrentTaxExpenseIncome>
  <ifrs-full:CurrentTaxExpenseIncome contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">0</ifrs-full:CurrentTaxExpenseIncome>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">-2489902</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">-1439332</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">-3431230</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <emx:DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2017&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2016&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;December 31, 2015&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Expected income tax (recovery)&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            (2,569,654
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            (886,149
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            (2,679,842
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Effect of lower tax rates in foreign jurisdictions&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            (1,534,592
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            (474,971
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            (2,393,803
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Permanent differences&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,007,427
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,010,562
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            2,594,459
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Change in unrecognized deductible temporary differences and other&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            260,595
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            (1,428,442
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            (60,006
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Foreign exchange&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            346,322
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            339,668
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (892,038
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (2,489,902
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (1,439,332
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            (3,431,230
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">-2569654</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">-886149</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">-2679842</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxEffectOfForeignTaxRates contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">-1534592</ifrs-full:TaxEffectOfForeignTaxRates>
  <ifrs-full:TaxEffectOfForeignTaxRates contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">-474971</ifrs-full:TaxEffectOfForeignTaxRates>
  <ifrs-full:TaxEffectOfForeignTaxRates contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">-2393803</ifrs-full:TaxEffectOfForeignTaxRates>
  <ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011 contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">1007427</ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011>
  <ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011 contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">1010562</ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011>
  <ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011 contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">2594459</ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011>
  <ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">260595</ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">-1428442</ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">-60006</ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <emx:TaxEffectOfForeignExchange contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">346322</emx:TaxEffectOfForeignExchange>
  <emx:TaxEffectOfForeignExchange contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">339668</emx:TaxEffectOfForeignExchange>
  <emx:TaxEffectOfForeignExchange contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">-892038</emx:TaxEffectOfForeignExchange>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="pure" decimals="4">0.2700</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="pure" decimals="4">0.2600</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="pure" decimals="4">0.2600</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2017_TO_31_December_2017_IncomeTaxRatesAxis-A1" unitRef="pure" decimals="2">0.11</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2018_TO_31_December_2018_IncomeTaxRatesAxis-A1" unitRef="pure" decimals="2">0.12</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2017_TO_31_December_2017_IncomeTaxRatesAxis-CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" unitRef="pure" decimals="2">0.26</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2018_TO_31_December_2018_IncomeTaxRatesAxis-CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" unitRef="pure" decimals="2">0.27</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2017_TO_31_December_2017_IncomeTaxRatesAxis-UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" unitRef="pure" decimals="2">0.35</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="cx_01_January_2018_TO_31_December_2018_IncomeTaxRatesAxis-UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" unitRef="pure" decimals="2">0.21</ifrs-full:ApplicableTaxRate>
  <ifrs-full:DisclosureOfRelatedPartyExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;16. RELATED PARTY TRANSACTIONS&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The aggregate value of transactions and outstanding balances relating to key management personnel were as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Share-based&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;For the year ended December 31, 2017&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Salary or Fees&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Payments&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Total&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Management&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                733,244
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                361,865
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,095,109
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Outside directors *&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                149,882
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                226,614
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                376,496
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Seabord Services Corp.&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                357,600
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                357,600
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                1,240,726
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                588,479
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                1,829,205
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;br/&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Share-based&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;For the year ended December 31, 2016&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Salary or Fees&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Payments&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Total&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Management&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                803,033
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                215,933
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,018,966
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Outside directors *&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                151,228
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                167,534.00
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                318,762
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Seabord Services Corp.&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                357,600
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                357,600
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                1,311,861
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                383,467
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                1,695,328
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;br/&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Share-based&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;For the year ended December 31, 2015&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Salary or Fees&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Payments&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Total&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Management&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,067,210
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                108,637
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,175,847
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Outside directors *&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                158,257
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                79,898
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                238,155
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Seabord Services Corp.&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                413,700
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                413,700
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                1,639,167
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                188,535
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                1,827,702
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      * Directors fees include US$5,000
      per month paid to the Company&amp;#8217;s non-Executive Chairman, who does not receive the fees paid to the other independent director&amp;#8217;s.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Seabord Services Corp. (&amp;#8220;Seabord&amp;#8221;) is a management services company controlled by the Chairman of the Board of Directors of the Company. Seabord provides a Chief Financial Officer, a Corporate Secretary, accounting and administration staff, and office space to the Company. The Chief Financial Officer and Corporate Secretary are employees of Seabord and are not paid directly by the Company.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Included in the table above for the year ended December 31, 2015 is $247,660
      in termination payments to a former officer of the Company. The amount has been included in Other expenses for that year.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Included in accounts payable and accrued liabilities at December 31, 2017 is $7,177
      (2016 - $5,913) owed to key management personnel and $23,568
      (2016 - $17,559) to other related parties. By way of a common director, included in Notes receivable (Note 7) are certain balances owing from a related party.
    &lt;/p&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
  <ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Share-based&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;For the year ended December 31, 2017&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Salary or Fees&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Payments&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Management&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            733,244
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            361,865
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,095,109
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Outside directors *&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            149,882
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            226,614
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            376,496
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Seabord Services Corp.&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            357,600
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            357,600
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            1,240,726
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            588,479
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            1,829,205
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">733244</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">361865</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">1095109</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">149882</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">226614</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">376496</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">357600</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">0</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">357600</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">1240726</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">588479</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">1829205</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory contextRef="cx_01_January_2016_TO_31_December_2016">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Share-based&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;For the year ended December 31, 2016&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Salary or Fees&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Payments&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Management&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            803,033
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            215,933
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,018,966
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Outside directors *&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            151,228
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            167,534.00
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            318,762
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Seabord Services Corp.&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            357,600
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            357,600
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            1,311,861
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            383,467
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            1,695,328
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">803033</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">215933</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">1018966</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">151228</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">167534</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">318762</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">357600</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">0</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2016_TO_31_December_2016_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">357600</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">1311861</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">383467</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">1695328</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory contextRef="cx_01_January_2015_TO_31_December_2015">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Share-based&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;For the year ended December 31, 2015&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Salary or Fees&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Payments&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Management&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,067,210
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            108,637
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,175,847
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Outside directors *&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            158,257
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            79,898
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            238,155
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Seabord Services Corp.&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            413,700
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            413,700
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            1,639,167
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            188,535
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            1,827,702
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">1067210</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">108637</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-ManagementMember" unitRef="cad" decimals="0">1175847</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">158257</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">79898</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-OutsideDirectorsMember" unitRef="cad" decimals="0">238155</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">413700</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">0</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2015_TO_31_December_2015_CategoriesOfRelatedPartiesAxis-SeabordServicesCorpMember" unitRef="cad" decimals="0">413700</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">1639167</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
  <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">188535</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">1827702</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensation contextRef="cx_01_January_2017_TO_31_December_2017_CategoriesOfRelatedPartiesAxis-NonexecutiveChairmanMember" unitRef="cad" decimals="0">5000</ifrs-full:KeyManagementPersonnelCompensation>
  <ifrs-full:KeyManagementPersonnelCompensationTerminationBenefits contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">247660</ifrs-full:KeyManagementPersonnelCompensationTerminationBenefits>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember" unitRef="cad" decimals="0">7177</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="cx_31_December_2016_CategoriesOfRelatedPartiesAxis-KeyManagementPersonnelOfEntityOrParentMember" unitRef="cad" decimals="0">5913</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="cx_31_December_2017_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" unitRef="cad" decimals="0">23568</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="cx_31_December_2016_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" unitRef="cad" decimals="0">17559</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;17. SEGMENTED INFORMATION&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company operates within the resource industry. At December 31, 2017 and 2016, the Company had equipment and exploration and evaluation assets located geographically as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;EXPLORATION AND EVALUATION ASSETS&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Asia Pacific&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
                81,124
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sweden&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                437,755
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                437,755
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkey&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                232,547
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                232,547
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;U.S.A&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,171,664
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,393,574
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                1,841,966
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                2,145,000
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;br/&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
                  &lt;b&gt;PROPERTY AND EQUIPMENT&lt;/b&gt;
                &lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Asia Pacific&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
                8,376
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Haiti&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sweden&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                26,159
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                3,110
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkey&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                1,091
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;U.S.A&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                424,119
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                459,127
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                450,278
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                471,704
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company&amp;#8217;s royalty interest, goodwill, deferred income tax liability and royalty income and depletion are from a CGU located in the U.S.A, except for a $200,000
      royalty interest held in Serbia.
    &lt;/p&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
  <emx:DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;EXPLORATION AND EVALUATION ASSETS&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Asia Pacific&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
            81,124
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sweden&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            437,755
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            437,755
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkey&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            232,547
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            232,547
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;U.S.A&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,171,664
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,393,574
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            1,841,966
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            2,145,000
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">437755</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">437755</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">232547</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">232547</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">1171664</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">1393574</ifrs-full:AssetsArisingFromExplorationForAndEvaluationOfMineralResources>
  <emx:DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;
              &lt;b&gt;PROPERTY AND EQUIPMENT&lt;/b&gt;
            &lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Asia Pacific&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
            8,376
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Haiti&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Sweden&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            26,159
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            3,110
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Turkey&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            1,091
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;U.S.A&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            424,119
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            459,127
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;"&gt;Total&lt;/p&gt;
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            450,278
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            471,704
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificMember" unitRef="cad" decimals="0">0</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-AsiaPacificMember" unitRef="cad" decimals="0">8376</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-HT" unitRef="cad" decimals="0">0</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-HT" unitRef="cad" decimals="0">0</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">26159</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-SE" unitRef="cad" decimals="0">3110</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">0</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-TR" unitRef="cad" decimals="0">1091</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">424119</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="cx_31_December_2016_ExplorationAndEvaluationAssetsByGeographyAxis-US" unitRef="cad" decimals="0">459127</ifrs-full:PropertyPlantAndEquipment>
  <emx:RoyaltyInterest contextRef="cx_31_December_2017_ExplorationAndEvaluationAssetsByGeographyAxis-RS" unitRef="cad" decimals="0">200000</emx:RoyaltyInterest>
  <ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;18. RISK AND CAPITAL MANAGEMENT: FINANCIAL INSTRUMENTS&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company considers items included in shareholders&amp;#8217; equity as capital. The Company&amp;#8217;s objective when managing capital is to safeguard the Company&amp;#8217;s ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      As at December 31, 2017, the Company had working capital of $6,535,893
      (2016 - $6,002,318). The Company has continuing royalty income that will vary depending on royalty ounces received, the price of gold, and foreign exchange rates on US royalty payments. The Company manages the capital structure and makes adjustments in light of changes in economic conditions and the risk characteristics of the underlying assets. The Company estimates it will need additional financing within the next
      12
      months to undertake it&amp;#8217;s current business plan. In order to maintain or adjust the capital structure, the Company may issue new shares through public and/or private placements, sell assets, or return capital to shareholders. The Company is not subject to externally imposed capital requirements.
    &lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Fair Value&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company characterizes inputs used in determining fair value using a hierarchy that prioritizes inputs depending on the degree to which they are observable. The three levels of the fair value hierarchy are as follows:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;Level 1: inputs represent quoted prices in active markets for identical assets or liabilities. Active markets are those in which transactions occur in sufficient frequency and volume to provide pricing information on an ongoing basis.&lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;Level 2: inputs other than quoted prices that are observable, either directly or indirectly. Level 2 valuations are based on inputs, including quoted forward prices for commodities, market interest rates, and volatility factors, which can be observed or corroborated in the market place.&lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;Level 3: inputs that are less observable, unavoidable or where the observable data does not support the majority of the instruments&amp;#8217; fair value.&lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;As at December 31, 2017, there were no changes in the levels in comparison to December 31, 2016. Financial instruments measured at fair value on the statement of financial position are summarized in levels of the fair value hierarchy as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;b&gt;Assets&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Level 1&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Level 2&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Level 3&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;Total&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;Cash and cash equivalents&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                3,533,611
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                3,533,611
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Restricted cash&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                771,434
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                771,434
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Fair value through profit or loss investments&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,139,447
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
                1,139,447
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Strategic investments&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                2,199,199
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="10%"&gt;
                2,199,199
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Accounts receivable&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                3,376,411
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                -
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                3,376,411
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                7,643,691
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                3,376,411
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &amp;#160;
                -
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                11,020,102
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The carrying value of receivables (excluding the receivable related to the sale of certain Turkish subsidiaries in the year ended December 31, 2016), notes receivable, accounts payable and accrued liabilities, and advances from joint venture partners approximate their fair value because of the short-term nature of these instruments.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Accounts receivable, including both long and current portions related to the sale of certain Turkish subsidiaries in the year ended December 31, 2016 were valued using a pricing model which require a variety of inputs, such as expected gold prices and foreign exchange rates. Included in the calculation for the year ended December 31, 2017, the Company used a long term gold price of US$1,332
      per ounce and a discount rate of
      6%. These receivables are valued using observable market commodity prices and thereby classified within Level 2 of the fair value hierarchy.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s financial instruments are exposed to certain financial risks, including credit risk, interest rate risk, market risk, liquidity risk and currency risk.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Credit Risk&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company is exposed to credit risk by holding cash and cash equivalents and receivables. This risk is minimized by holding a significant portion of the funds in Canadian banks. The Company&amp;#8217;s exposure with respect to its receivables is primarily related to royalty streams, recovery of exploration evaluation costs, and the sale of AES (Note 9).&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Interest Rate Risk&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company is exposed to interest rate risk because of fluctuating interest rates. Management believes the interest rate risk is low given interest rates on promissory notes is fixed and the current low global interest rate environment. Fluctuations in market rates is not expected to have a significant impact on the Company&amp;#8217;s operations due to the short term to maturity and no penalty cashable feature of its cash equivalents.&lt;/p&gt;
        &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Market Risk&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      The Company is exposed to market risk because of the fluctuating values of its publicly traded marketable securities and other company investments. The Company has no control over these fluctuations and does not hedge its investments. Based on the December 31, 2017 portfolio values, a
      10% increase or decrease in effective market values would increase or decrease net shareholders&amp;#8217; equity by approximately $334,000.
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Liquidity Risk&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Liquidity risk is the risk that the Company is unable to meet its financial obligations as they come due. The Company manages this risk by careful management of its working capital to ensure the Company&amp;#8217;s expenditures will not exceed available resources.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Commodity Risk&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The Company&amp;#8217;s royalty revenues are derived from a royalty interest and are based on the extraction and sale of precious and base minerals and metals. Factors beyond the control of the Company may affect the marketability of metals discovered. Metal prices have historically fluctuated widely. Consequently, the economic viability of the Company&amp;#8217;s royalty interests cannot be accurately predicted and may be adversely affected by fluctuations in mineral prices.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;Currency Risk&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Foreign exchange risk arises when future commercial transactions and recognized assets and liabilities are denominated in a currency that is not the entity&amp;#8217;s functional currency. The Company operates in Canada, Turkey, Sweden, Australia and the U.S.A. The Company funds cash calls to its subsidiary companies outside of Canada in US dollars and a portion of its expenditures are also incurred in local currencies.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The exposure of the Company&amp;#8217;s cash and cash equivalents, restricted cash, receivables, convertible notes receivable, and accounts payable and accrued liabilities to foreign exchange risk as at December 31, 2017 is as follows:&lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
                &lt;b&gt;Accounts&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                &lt;b&gt;US dollars&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;Cash and cash equivalents&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
                2,286,117
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Restricted cash&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                615,636
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Receivables&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
                2,442,545
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" valign="bottom"&gt;Accounts payable and accrued liabilities&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="12%"&gt;
                (446,604
              &lt;/td&gt;
              &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Advances from joint venture partners&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                (644,497
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Net exposure&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                4,253,198
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Canadian dollar equivalent&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
                5,338,027
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The balances noted above reflect the US dollar balances held within the parent company and any wholly owned subsidiaries. Balances denominated in another currency other than the functional currency held in foreign operations are considered immaterial.&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      Based on the above net exposure as at December 31, 2017, and assuming that all other variables remain constant, a
      10% depreciation or appreciation of the Canadian dollar against the US dollar would result in an increase/decrease of approximately $534,000
      in the Company&amp;#8217;s pre-tax profit or loss.
    &lt;/p&gt;</ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory>
  <ifrs-full:DisclosureOfFinancialAssetsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;b&gt;Assets&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Level 1&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Level 2&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Level 3&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;Total&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;Cash and cash equivalents&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            3,533,611
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            3,533,611
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Restricted cash&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            771,434
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            771,434
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Fair value through profit or loss investments&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,139,447
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="10%"&gt;
            1,139,447
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Strategic investments&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            2,199,199
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="10%"&gt;
            2,199,199
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Accounts receivable&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            3,376,411
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            -
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            3,376,411
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            7,643,691
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            3,376,411
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &amp;#160;
            -
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            11,020,102
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfFinancialAssetsExplanatory>
  <ifrs-full:CashAndCashEquivalents contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" unitRef="cad" decimals="0">3533611</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" unitRef="cad" decimals="0">771434</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" unitRef="cad" decimals="0">1139447</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss contextRef="cx_31_December_2017" unitRef="cad" decimals="0">1139447</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss>
  <emx:StrategicInvestments contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" unitRef="cad" decimals="0">2199199</emx:StrategicInvestments>
  <emx:StrategicInvestments contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</emx:StrategicInvestments>
  <emx:StrategicInvestments contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</emx:StrategicInvestments>
  <ifrs-full:OtherReceivables contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" unitRef="cad" decimals="0">3376411</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:OtherReceivables>
  <ifrs-full:OtherReceivables contextRef="cx_31_December_2017" unitRef="cad" decimals="0">3376411</ifrs-full:OtherReceivables>
  <ifrs-full:FinancialAssets contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" unitRef="cad" decimals="0">7643691</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" unitRef="cad" decimals="0">3376411</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="cx_31_December_2017_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" unitRef="cad" decimals="0">0</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets contextRef="cx_31_December_2017" unitRef="cad" decimals="0">11020102</ifrs-full:FinancialAssets>
  <emx:DisclosureOfCurrencyRiskExplanatoryTableTextBlock contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;
            &lt;b&gt;Accounts&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            &lt;b&gt;US dollars&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;Cash and cash equivalents&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%"&gt;
            2,286,117
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Restricted cash&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            615,636
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom"&gt;Receivables&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" valign="bottom" width="12%"&gt;
            2,442,545
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" valign="bottom"&gt;Accounts payable and accrued liabilities&lt;/td&gt;
          &lt;td align="left" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" valign="bottom" width="12%"&gt;
            (446,604
          &lt;/td&gt;
          &lt;td align="left" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Advances from joint venture partners&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            (644,497
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;)&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Net exposure&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            4,253,198
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Canadian dollar equivalent&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%"&gt;
            5,338,027
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</emx:DisclosureOfCurrencyRiskExplanatoryTableTextBlock>
  <ifrs-full:CashAndCashEquivalents contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="usd" decimals="0">2286117</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="usd" decimals="0">615636</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
  <ifrs-full:TradeAndOtherCurrentReceivables contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="usd" decimals="0">2442545</ifrs-full:TradeAndOtherCurrentReceivables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="usd" decimals="0">-446604</ifrs-full:TradeAndOtherCurrentPayables>
  <emx:AdvancesFromJointVenturePartners contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="usd" decimals="0">-644497</emx:AdvancesFromJointVenturePartners>
  <emx:AmountsHeldInForeignCurrencies contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="usd" decimals="0">4253198</emx:AmountsHeldInForeignCurrencies>
  <emx:AmountsHeldInForeignCurrencies contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="cad" decimals="0">5338027</emx:AmountsHeldInForeignCurrencies>
  <emx:WorkingCapital contextRef="cx_31_December_2017" unitRef="cad" decimals="0">6535893</emx:WorkingCapital>
  <emx:WorkingCapital contextRef="cx_31_December_2016" unitRef="cad" decimals="0">6002318</emx:WorkingCapital>
  <emx:LongTermGoldPriceUsedForCalculations contextRef="cx_31_December_2017" unitRef="usd" decimals="0">1332</emx:LongTermGoldPriceUsedForCalculations>
  <ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections contextRef="cx_31_December_2017" unitRef="pure" decimals="2">0.06</ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections>
  <emx:PotentialChangeInMarketPrices contextRef="cx_31_December_2017_TypesOfRisksAxis-MarketRiskMember" unitRef="pure" decimals="2">0.10</emx:PotentialChangeInMarketPrices>
  <ifrs-full:ValueAtRisk contextRef="cx_31_December_2017_TypesOfRisksAxis-MarketRiskMember" unitRef="cad" decimals="0">334000</ifrs-full:ValueAtRisk>
  <emx:PotentialChangeInMarketPrices contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="pure" decimals="2">0.10</emx:PotentialChangeInMarketPrices>
  <ifrs-full:ValueAtRisk contextRef="cx_31_December_2017_TypesOfRisksAxis-CurrencyRiskMember" unitRef="cad" decimals="0">534000</ifrs-full:ValueAtRisk>
  <ifrs-full:DisclosureOfCashFlowStatementExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;19. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS&lt;/b&gt;
    &lt;/p&gt;
              &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;December 31, 2017&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;December 31, 2016&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                &lt;b&gt;December 31, 2015&lt;/b&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;Cash&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                3,354,109
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                3,132,480
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
                5,365,271
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Short-term deposits&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                179,502
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                67,206
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                269,330
              &lt;/td&gt;
              &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr valign="top"&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                3,533,611
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                3,199,686
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
              &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
                5,634,601
              &lt;/td&gt;
              &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The significant non-cash investing and financing transactions during the year ended December 31, 2017 included:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;a.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Recorded a gain through accumulated other comprehensive income of $609,733
              related to the fair value adjustments on AFS financial instruments;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;b.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Adjusted non-current assets and liabilities for $1,424,814
              related to cumulative translation adjustments (&amp;#8220;CTA&amp;#8221;), of which $1,605,133
              relates to CTA loss on royalty interest, $223,778
              relates to CTA loss on goodwill, $443,115
              relates to a CTA gain on deferred tax liability and $39,018
              relates to CTA loss in the net assets of a subsidiary with a functional currency different from the presentation currency;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;c.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Reclass of reserves on exercise of options for $45,545
              ;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;d.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Recorded the movement of $1,017,540
              from a convertible loan to an investment in associated company upon conversion of the loan (Note 8); and
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;e.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Recorded through reserves $39,457
              related to the value of warrants issued as finders fees as part of a private placement (Note 14).
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The significant non-cash investing and financing transactions during the year ended December 31, 2016 included:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;a.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Recorded a gain through accumulated other comprehensive income of $88,515
              related to the fair value adjustments on AFS financial instruments;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;b.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Issuance of
              140,000
              incentive stock grants valued at $166,600
              applied to commitment to issue shares;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;c.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Adjusted reserves and investment in associated companies for $366,800
              related to share-based payments made by an associated company;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;d.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Adjusted non-current assets and liabilities for $862,335
              related to cumulative translation adjustments (&amp;#8220;CTA&amp;#8221;), of which $949,607
              relates to CTA loss on royalty interest, $230,234
              relates to CTA loss on goodwill, $309,230
              relates to a CTA gain on deferred tax liability and $8,276
              relates to CTA gain in the net assets of a subsidiary with a functional currency different from the presentation currency; and
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;e.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Recorded the movement of $1,605,466
              from a convertible loan to an investment in associated company upon conversion of the loan (Note 8).
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;The significant non-cash investing and financing transactions during the year ended December 31, 2015 included:&lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;a.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Recorded a loss through accumulated other comprehensive income of $105,714
              related to the fair value adjustments on available-for-sale (&amp;#8220;AFS&amp;#8221;) financial instruments;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;b.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Issuance of
              163,000
              bonus shares valued at $233,950
              applied to commitment to issue shares;
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;c.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Adjusted reserves and investment in associated companies for $322,900
              related to share-based payments made by an associated company; and
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr&gt;
          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td valign="top" width="5%"&gt;d.&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              Adjusted non-current assets and liabilities for $4,350,667
              related to cumulative translation adjustments (&amp;#8220;CTA&amp;#8221;), of which $5,161,567, relates to CTA gain on royalty interest, $1,331,949
              relates to CTA gain on goodwill, $1,715,574
              relates to a CTA loss on deferred tax liability and $427,275
              relates to a CTA loss in the net liabilities of a subsidiary with a functional currency different from the presentation currency.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfCashFlowStatementExplanatory>
  <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;December 31, 2017&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;December 31, 2016&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            &lt;b&gt;December 31, 2015&lt;/b&gt;
          &lt;/td&gt;
          &lt;td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom"&gt;Cash&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            3,354,109
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            3,132,480
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%"&gt;
            5,365,271
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom"&gt;Short-term deposits&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            179,502
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            67,206
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            269,330
          &lt;/td&gt;
          &lt;td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"&gt;Total&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            3,533,611
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            3,199,686
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%"&gt;$&lt;/td&gt;
          &lt;td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%"&gt;
            5,634,601
          &lt;/td&gt;
          &lt;td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%"&gt;&amp;#160;&lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
  <ifrs-full:Cash contextRef="cx_31_December_2017" unitRef="cad" decimals="0">3354109</ifrs-full:Cash>
  <ifrs-full:Cash contextRef="cx_31_December_2016" unitRef="cad" decimals="0">3132480</ifrs-full:Cash>
  <ifrs-full:Cash contextRef="cx_31_December_2015" unitRef="cad" decimals="0">5365271</ifrs-full:Cash>
  <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="cx_31_December_2017" unitRef="cad" decimals="0">179502</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
  <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="cx_31_December_2016" unitRef="cad" decimals="0">67206</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
  <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="cx_31_December_2015" unitRef="cad" decimals="0">269330</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
  <emx:CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">443115</emx:CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability>
  <emx:CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">39018</emx:CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary>
  <emx:ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany contextRef="cx_01_January_2017_TO_31_December_2017" unitRef="cad" decimals="0">1017540</emx:ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany>
  <emx:CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">309230</emx:CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability>
  <emx:CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">8276</emx:CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary>
  <emx:ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany contextRef="cx_01_January_2016_TO_31_December_2016" unitRef="cad" decimals="0">1605466</emx:ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany>
  <emx:CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">1715574</emx:CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability>
  <emx:CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary contextRef="cx_01_January_2015_TO_31_December_2015" unitRef="cad" decimals="0">427275</emx:CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary>
  <ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory contextRef="cx_01_January_2017_TO_31_December_2017">&lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;20. EVENTS SUBSEQUENT TO THE REPORTING DATE&lt;/b&gt;
    &lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;Subsequent to the year ended December 31, 2017, the Company,&lt;/p&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;Sweden&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;a)&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              executed a definitive agreement for the sale of the Guldgruvan cobalt project to Boreal Energy Metals Corporation (&amp;#8220;BEMC&amp;#8221;), subsidiary of BMC in southern Norway. Pursuant to the agreement, BEMC will acquire
              100% interest in the project according to the following terms (all dollar amounts in USD):
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;br/&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              At closing, BEMC will issue to EMX that number of common shares of BEMC that represents a
              5.9% equity ownership in BEMC. BEMC will have the continuing obligation to issue additional shares of BEMC to EMX to maintain its
              5.9% interest, at no additional cost to EMX, until BEMC has raised $3,000,000
              in equity. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its
              5.9% interest in BEMC.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;At closing, EMX will transfer its Guldgruvan exploration licenses to BEMC.&lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              EMX will retain a
              3% NSR royalty on the Project, of which
              1% may be purchased by BEMC on or before the fifth anniversary of the closing date in
              0.5% increments for a total of $2,500,000
              in cash and common shares of BEMC stock.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
        &lt;tr valign="top"&gt;
          &lt;td align="left"&gt;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="5%"&gt;&amp;#8226;&amp;#160;&amp;#160;&lt;/td&gt;
          &lt;td align="left" width="90%"&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              EMX will receive AAR payments, with an initial $20,000
              payment, commencing on the second anniversary of the closing, with each subsequent AAR payment increasing by $5,000
              per year until reaching $60,000
              per year. Once reaching $60,000, AAR payments will be adjusted each year according to the Consumer Price Index (as published by the U.S. Department of Labor, Bureau of Labor Statistics).
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;br/&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;b)&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              amended the sale agreement with BMC (Note 9) to include the Modum project in Norway in exchange for an additional
              1,324,181
              common shares of BMC. EMX now holds
              10,530,063
              common shares of BMC representing
              19.9% of the outstanding common shares.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;Buckhorn Creek Property&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;c)&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              executed an Option Agreement with Kennecott whereby Kennecott can earn a
              100% interest in the project by: a) making annual option payments totaling US$550,000, and b) completing US$4,500,000
              in exploration expenditures before the fifth anniversary of the agreement. Upon exercise of the option, EMX will retain a
              2% NSR royalty on the project which is not capped or purchasable. After exercise of the option, annual advance minimum payments and milestone payments will be due to EMX.
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;
    &lt;p align="justify" style="font-family: times,serif; font-size: 10pt;"&gt;
      &lt;b&gt;
        &lt;u&gt;Turkey&lt;/u&gt;
      &lt;/b&gt;
    &lt;/p&gt;
    &lt;table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%"&gt;
        &lt;tr&gt;
          &lt;td valign="top" width="5%"&gt;d)&lt;/td&gt;
          &lt;td&gt;
            &lt;p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;"&gt;
              received a payment of US$665,525
              on February 5, 2018, as the cash equivalent to the third
              500
              ounce gold bullion payment to be made under the terms of the agreement (Note 10).
            &lt;/p&gt;
          &lt;/td&gt;
        &lt;/tr&gt;
    &lt;/table&gt;</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
  <emx:ProjectOwnershipPercentageForSale contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" unitRef="pure" decimals="2">1.00</emx:ProjectOwnershipPercentageForSale>
  <ifrs-full:PercentageOfVotingEquityInterestsAcquired contextRef="cx_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" unitRef="pure" decimals="3">0.059</ifrs-full:PercentageOfVotingEquityInterestsAcquired>
  <emx:DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember">BEMC will have the continuing obligation to issue additional shares of BEMC to EMX to maintain its 5.9% interest, at no additional cost to EMX, until BEMC has raised $3,000,000 in equity. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its 5.9% interest in BEMC.</emx:DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation>
  <emx:DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember">EMX will retain a 3% NSR royalty on the Project, of which 1% may be purchased by BEMC on or before the fifth anniversary of the closing date in 0.5% increments for a total of $2,500,000 in cash and common shares of BEMC stock.</emx:DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty>
  <emx:DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember">EMX will receive AAR payments, with an initial $20,000 payment, commencing on the second anniversary of the closing, with each subsequent AAR payment increasing by $5,000 per year until reaching $60,000 per year. Once reaching $60,000, AAR payments will be adjusted each year according to the Consumer Price Index (as published by the U.S. Department of Labor, Bureau of Labor Statistics).</emx:DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments>
  <emx:AmendedSalesAgreementAdditionalSharesToBeReceived contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" unitRef="shares" decimals="0">1324181</emx:AmendedSalesAgreementAdditionalSharesToBeReceived>
  <emx:NumberOfEquityInstrumentsHeld contextRef="cx_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" unitRef="shares" decimals="0">10530063</emx:NumberOfEquityInstrumentsHeld>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" unitRef="pure" decimals="3">0.199</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <emx:OptionAgreementInterest contextRef="cx_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" unitRef="pure" decimals="2">1.00</emx:OptionAgreementInterest>
  <emx:ProceedsFromAnnualOptionPayment contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" unitRef="cad" decimals="0">550000</emx:ProceedsFromAnnualOptionPayment>
  <emx:OptionAgreementExplorationExpendituresRequired contextRef="cx_01_January_2017_TO_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" unitRef="cad" decimals="0">4500000</emx:OptionAgreementExplorationExpendituresRequired>
  <emx:NetSmelterReturnRoyalty contextRef="cx_31_December_2017_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" unitRef="pure" decimals="2">0.02</emx:NetSmelterReturnRoyalty>
  <emx:ProceedsFromSharePurchaseAgreement contextRef="cx_01_February_2018_TO_05_February_2018_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateTurkeyMember" unitRef="usd" decimals="0">665525</emx:ProceedsFromSharePurchaseAgreement>
  <emx:GoldEquivalentOfProceedsReceived contextRef="cx_01_February_2018_TO_05_February_2018_NonadjustingEventsAfterReportingPeriodAxis-EventsSubsequentToTheReportingDateTurkeyMember" unitRef="oz" decimals="0">500</emx:GoldEquivalentOfProceedsReceived>
</xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>11
<FILENAME>emx-20171231_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8" standalone="yes"?>
<!-- Compliance Xpressware Instance Document http://www.compliancexpressware.com/  -->
<!-- Version: 1.0.0 --><!-- Creation date:16:03:43 GMT-0700 -->
<!-- Copyright (c) Compliance Xpressware, LLP. All Rights Reserved. -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink">
  <link:roleRef roleURI="http://www.emxroyalty.com/taxonomy/role/BalanceSheet" xlink:type="simple" xlink:href="emx-20171231.xsd#role_BalanceSheet"/>
  <link:calculationLink xlink:type="extended" xlink:role="http://www.emxroyalty.com/taxonomy/role/BalanceSheet">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents"/>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>12
<FILENAME>emx-20171231_def.xml
<DESCRIPTION>XBRL DEFINITION FILE
<TEXT>
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>13
<FILENAME>emx-20171231_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
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    <link:label xlink:type="resource" xlink:label="label_emx_StrategicInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_StrategicInvestments" xml:lang="en-US" id="label_emx_StrategicInvestments_en-US">Strategic investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StrategicInvestments" xlink:to="label_emx_StrategicInvestments" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_StrategicInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_StrategicInvestments" xml:lang="en-US" id="documentation_emx_StrategicInvestments_en-US">Strategic investments</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xlink:label="AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xlink:title="AssetsArisingFromExplorationForAndEvaluationOfMineralResources"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Exploration and evaluation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xlink:to="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" use="optional" order="15" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyInterest" xlink:label="RoyaltyInterest" xlink:title="RoyaltyInterest"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RoyaltyInterest" xml:lang="en-US" id="label_emx_RoyaltyInterest_en-US">Royalty interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyInterest" xlink:to="label_emx_RoyaltyInterest" use="optional" order="16" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyInterest" xml:lang="en-US" id="documentation_emx_RoyaltyInterest_en-US">Royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ReclamationBonds" xlink:label="ReclamationBonds" xlink:title="ReclamationBonds"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclamationBonds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ReclamationBonds" xml:lang="en-US" id="label_emx_ReclamationBonds_en-US">Reclamation bonds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclamationBonds" xlink:to="label_emx_ReclamationBonds" use="optional" order="17" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclamationBonds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ReclamationBonds" xml:lang="en-US" id="documentation_emx_ReclamationBonds_en-US">Reclamation bonds</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Goodwill" xlink:label="Goodwill" xlink:title="Goodwill"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Goodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Goodwill" xml:lang="en-US" id="label_ifrs-full_Goodwill_en-US">Goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Goodwill" xlink:to="label_ifrs-full_Goodwill" use="optional" order="18" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="OtherNoncurrentAssets" xlink:title="OtherNoncurrentAssets"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_OtherNoncurrentAssets" xml:lang="en-US" id="label_ifrs-full_OtherNoncurrentAssets_en-US">Other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentAssets" xlink:to="label_ifrs-full_OtherNoncurrentAssets" use="optional" order="19" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentAssets" xlink:label="NoncurrentAssets" xlink:title="NoncurrentAssets"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_NoncurrentAssets" xml:lang="en-US" id="totalLabel_ifrs-full_NoncurrentAssets_en-US">Total non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssets" xlink:to="label_ifrs-full_NoncurrentAssets" use="optional" order="20" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Assets" xlink:label="Assets" xlink:title="Assets"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_Assets" xml:lang="en-US" id="totalLabel_ifrs-full_Assets_en-US">TOTAL ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_ifrs-full_Assets" use="optional" order="21" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="LiabilitiesAbstract" xlink:title="LiabilitiesAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_LiabilitiesAbstract" xml:lang="en-US" id="label_ifrs-full_LiabilitiesAbstract_en-US">LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAbstract" xlink:to="label_ifrs-full_LiabilitiesAbstract" use="optional" order="22" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentLiabilitiesAbstract" xlink:label="CurrentLiabilitiesAbstract" xlink:title="CurrentLiabilitiesAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CurrentLiabilitiesAbstract" xml:lang="en-US" id="label_ifrs-full_CurrentLiabilitiesAbstract_en-US">Current Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilitiesAbstract" xlink:to="label_ifrs-full_CurrentLiabilitiesAbstract" use="optional" order="23" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="TradeAndOtherCurrentPayables" xlink:title="TradeAndOtherCurrentPayables"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TradeAndOtherCurrentPayables" xml:lang="en-US" id="label_ifrs-full_TradeAndOtherCurrentPayables_en-US">Accounts payable and accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayables" xlink:to="label_ifrs-full_TradeAndOtherCurrentPayables" use="optional" order="24" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdvancesFromJointVenturePartners" xlink:label="AdvancesFromJointVenturePartners" xlink:title="AdvancesFromJointVenturePartners"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdvancesFromJointVenturePartners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdvancesFromJointVenturePartners" xml:lang="en-US" id="label_emx_AdvancesFromJointVenturePartners_en-US">Advances from joint venture partners</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvancesFromJointVenturePartners" xlink:to="label_emx_AdvancesFromJointVenturePartners" use="optional" order="25" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdvancesFromJointVenturePartners" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdvancesFromJointVenturePartners" xml:lang="en-US" id="documentation_emx_AdvancesFromJointVenturePartners_en-US">Advances from joint venture partners</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentLiabilities" xlink:label="CurrentLiabilities" xlink:title="CurrentLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_CurrentLiabilities" xml:lang="en-US" id="totalLabel_ifrs-full_CurrentLiabilities_en-US">Total current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilities" xlink:to="label_ifrs-full_CurrentLiabilities" use="optional" order="26" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentLiabilitiesAbstract" xlink:label="NoncurrentLiabilitiesAbstract" xlink:title="NoncurrentLiabilitiesAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NoncurrentLiabilitiesAbstract" xml:lang="en-US" id="label_ifrs-full_NoncurrentLiabilitiesAbstract_en-US">Non-current Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilitiesAbstract" xlink:to="label_ifrs-full_NoncurrentLiabilitiesAbstract" use="optional" order="27" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="DeferredTaxLiabilities" xlink:title="DeferredTaxLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DeferredTaxLiabilities" xml:lang="en-US" id="label_ifrs-full_DeferredTaxLiabilities_en-US">Deferred income tax liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilities" xlink:to="label_ifrs-full_DeferredTaxLiabilities" use="optional" order="28" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_Liabilities" xml:lang="en-US" id="totalLabel_ifrs-full_Liabilities_en-US">TOTAL LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_ifrs-full_Liabilities" use="optional" order="29" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAbstract" xlink:label="EquityAbstract" xlink:title="EquityAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_EquityAbstract" xml:lang="en-US" id="label_ifrs-full_EquityAbstract_en-US">SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="label_ifrs-full_EquityAbstract" use="optional" order="30" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IssuedCapital" xml:lang="en-US" id="label_ifrs-full_IssuedCapital_en-US">Capital stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapital" xlink:to="label_ifrs-full_IssuedCapital" use="optional" order="31" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CommitmentToIssueShares" xlink:label="CommitmentToIssueShares" xlink:title="CommitmentToIssueShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CommitmentToIssueShares" xml:lang="en-US" id="label_emx_CommitmentToIssueShares_en-US">Commitment to issue shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentToIssueShares" xlink:to="label_emx_CommitmentToIssueShares" use="optional" order="32" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CommitmentToIssueShares" xml:lang="en-US" id="documentation_emx_CommitmentToIssueShares_en-US">Commitment to issue shares</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherReserves" xlink:label="OtherReserves" xlink:title="OtherReserves"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherReserves" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_OtherReserves" xml:lang="en-US" id="label_ifrs-full_OtherReserves_en-US">Reserves</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherReserves" xlink:to="label_ifrs-full_OtherReserves" use="optional" order="33" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RetainedEarnings" xlink:label="RetainedEarnings" xlink:title="RetainedEarnings"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_RetainedEarnings" xml:lang="en-US" id="label_ifrs-full_RetainedEarnings_en-US">Deficit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarnings" xlink:to="label_ifrs-full_RetainedEarnings" use="optional" order="34" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_Equity" xml:lang="en-US" id="totalLabel_ifrs-full_Equity_en-US">TOTAL SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_ifrs-full_Equity" use="optional" order="35" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAndLiabilities" xlink:label="EquityAndLiabilities" xlink:title="EquityAndLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_EquityAndLiabilities" xml:lang="en-US" id="totalLabel_ifrs-full_EquityAndLiabilities_en-US">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilities" xlink:to="label_ifrs-full_EquityAndLiabilities" use="optional" order="36" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="IncomeStatementAbstract" xlink:title="IncomeStatementAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IncomeStatementAbstract" xml:lang="en-US" id="label_ifrs-full_IncomeStatementAbstract_en-US">Income Statement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeStatementAbstract" xlink:to="label_ifrs-full_IncomeStatementAbstract" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueFromRoyalties" xlink:label="RevenueFromRoyalties" xlink:title="RevenueFromRoyalties"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RevenueFromRoyalties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_RevenueFromRoyalties" xml:lang="en-US" id="label_ifrs-full_RevenueFromRoyalties_en-US">ROYALTY INCOME</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromRoyalties" xlink:to="label_ifrs-full_RevenueFromRoyalties" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CostOfSalesAbstract" xlink:label="CostOfSalesAbstract" xlink:title="CostOfSalesAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CostOfSalesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_CostOfSalesAbstract" xml:lang="en-US" id="verboseLabel_emx_CostOfSalesAbstract_en-US">Cost of sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfSalesAbstract" xlink:to="label_emx_CostOfSalesAbstract" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CostOfSalesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CostOfSalesAbstract" xml:lang="en-US" id="documentation_emx_CostOfSalesAbstract_en-US">Cost of sales</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GoldTax" xlink:label="GoldTax" xlink:title="GoldTax"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_GoldTax" xml:lang="en-US" id="negatedLabel_emx_GoldTax_en-US">Gold tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoldTax" xlink:to="label_emx_GoldTax" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GoldTax" xml:lang="en-US" id="documentation_emx_GoldTax_en-US">Gold tax</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_Depletion" xlink:label="Depletion" xlink:title="Depletion"/>
    <link:label xlink:type="resource" xlink:label="label_emx_Depletion" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_Depletion" xml:lang="en-US" id="negatedLabel_emx_Depletion_en-US">Depletion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Depletion" xlink:to="label_emx_Depletion" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_Depletion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_Depletion" xml:lang="en-US" id="documentation_emx_Depletion_en-US">Depletion</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GrossProfit" xlink:label="GrossProfit" xlink:title="GrossProfit"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_GrossProfit" xml:lang="en-US" id="totalLabel_ifrs-full_GrossProfit_en-US">Net royalty (loss) income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="label_ifrs-full_GrossProfit" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xlink:label="ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xlink:title="ExpenseArisingFromExplorationForAndEvaluationOfMineralResources"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources_en-US">EXPLORATION EXPENDITURES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xlink:to="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:label="IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:title="IncomeArisingFromExplorationForAndEvaluationOfMineralResources"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="negatedLabel_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Less: recoveries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:to="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" use="optional" order="7" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NetExplorationExpenditures" xlink:label="NetExplorationExpenditures" xlink:title="NetExplorationExpenditures"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetExplorationExpenditures" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_emx_NetExplorationExpenditures" xml:lang="en-US" id="totalLabel_emx_NetExplorationExpenditures_en-US">Net exploration expenditures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetExplorationExpenditures" xlink:to="label_emx_NetExplorationExpenditures" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetExplorationExpenditures" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NetExplorationExpenditures" xml:lang="en-US" id="documentation_emx_NetExplorationExpenditures_en-US">Net exploration expenditures</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpenseByNatureAbstract" xlink:label="ExpenseByNatureAbstract" xlink:title="ExpenseByNatureAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExpenseByNatureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ExpenseByNatureAbstract" xml:lang="en-US" id="label_ifrs-full_ExpenseByNatureAbstract_en-US">GENERAL AND ADMINISTRATIVE EXPENSES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseByNatureAbstract" xlink:to="label_ifrs-full_ExpenseByNatureAbstract" use="optional" order="9" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdministrativeExpense" xlink:label="AdministrativeExpense" xlink:title="AdministrativeExpense"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdministrativeExpense" xml:lang="en-US" id="label_ifrs-full_AdministrativeExpense_en-US">Administrative and office</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeExpense" xlink:to="label_ifrs-full_AdministrativeExpense" use="optional" order="10" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DepreciationExpense" xlink:label="DepreciationExpense" xlink:title="DepreciationExpense"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DepreciationExpense" xml:lang="en-US" id="label_ifrs-full_DepreciationExpense_en-US">Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationExpense" xlink:to="label_ifrs-full_DepreciationExpense" use="optional" order="11" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_InvestorRelationsAndShareholderInformation" xlink:label="InvestorRelationsAndShareholderInformation" xlink:title="InvestorRelationsAndShareholderInformation"/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestorRelationsAndShareholderInformation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_InvestorRelationsAndShareholderInformation" xml:lang="en-US" id="label_emx_InvestorRelationsAndShareholderInformation_en-US">Investor relations and shareholder information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestorRelationsAndShareholderInformation" xlink:to="label_emx_InvestorRelationsAndShareholderInformation" use="optional" order="12" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestorRelationsAndShareholderInformation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_InvestorRelationsAndShareholderInformation" xml:lang="en-US" id="documentation_emx_InvestorRelationsAndShareholderInformation_en-US">Investor relations and shareholder information</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfessionalFeesExpense" xlink:label="ProfessionalFeesExpense" xlink:title="ProfessionalFeesExpense"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfessionalFeesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProfessionalFeesExpense" xml:lang="en-US" id="label_ifrs-full_ProfessionalFeesExpense_en-US">Professional fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfessionalFeesExpense" xlink:to="label_ifrs-full_ProfessionalFeesExpense" use="optional" order="13" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WagesAndSalaries" xlink:label="WagesAndSalaries" xlink:title="WagesAndSalaries"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WagesAndSalaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WagesAndSalaries" xml:lang="en-US" id="label_ifrs-full_WagesAndSalaries_en-US">Salaries and consultants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagesAndSalaries" xlink:to="label_ifrs-full_WagesAndSalaries" use="optional" order="14" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:title="ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xml:lang="en-US" id="label_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_en-US">Share-based payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="label_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" use="optional" order="15" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TransferAgentAndFilingFees" xlink:label="TransferAgentAndFilingFees" xlink:title="TransferAgentAndFilingFees"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TransferAgentAndFilingFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_TransferAgentAndFilingFees" xml:lang="en-US" id="label_emx_TransferAgentAndFilingFees_en-US">Transfer agent and filing fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferAgentAndFilingFees" xlink:to="label_emx_TransferAgentAndFilingFees" use="optional" order="16" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TransferAgentAndFilingFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TransferAgentAndFilingFees" xml:lang="en-US" id="documentation_emx_TransferAgentAndFilingFees_en-US">Transfer agent and filing fees</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TravelExpense" xlink:label="TravelExpense" xlink:title="TravelExpense"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TravelExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TravelExpense" xml:lang="en-US" id="label_ifrs-full_TravelExpense_en-US">Travel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TravelExpense" xlink:to="label_ifrs-full_TravelExpense" use="optional" order="17" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OperatingExpense" xlink:label="OperatingExpense" xlink:title="OperatingExpense"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OperatingExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_OperatingExpense" xml:lang="en-US" id="totalLabel_ifrs-full_OperatingExpense_en-US">Total general and administrative expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense" xlink:to="label_ifrs-full_OperatingExpense" use="optional" order="18" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ProfitLossFromOperatingActivities" xlink:title="ProfitLossFromOperatingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_ProfitLossFromOperatingActivities" xml:lang="en-US" id="totalLabel_ifrs-full_ProfitLossFromOperatingActivities_en-US">Loss from operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromOperatingActivities" xlink:to="label_ifrs-full_ProfitLossFromOperatingActivities" use="optional" order="19" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:label="GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xml:lang="en-US" id="label_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss_en-US">Change in fair value of fair value throught profit or loss investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" use="optional" order="20" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GainsLossesOnDisposalOfSubsidiaries" xlink:label="GainsLossesOnDisposalOfSubsidiaries" xlink:title="GainsLossesOnDisposalOfSubsidiaries"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainsLossesOnDisposalOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GainsLossesOnDisposalOfSubsidiaries" xml:lang="en-US" id="verboseLabel_emx_GainsLossesOnDisposalOfSubsidiaries_en-US">Gain on sale of subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnDisposalOfSubsidiaries" xlink:to="label_emx_GainsLossesOnDisposalOfSubsidiaries" use="optional" order="21" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainsLossesOnDisposalOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GainsLossesOnDisposalOfSubsidiaries" xml:lang="en-US" id="documentation_emx_GainsLossesOnDisposalOfSubsidiaries_en-US">Gain on sale of subsidiaries</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:label="ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:title="ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xml:lang="en-US" id="negatedLabel_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax_en-US">Permanent loss recorded in the fair value of available for sale investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:to="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" use="optional" order="22" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xlink:label="GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xlink:title="GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xml:lang="en-US" id="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets_en-US">Gain on acquisition and sale of exploration and evaluation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xlink:to="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" use="optional" order="23" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xml:lang="en-US" id="documentation_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets_en-US">Gain (loss) on acquisition and sale of exploration and evaluation assets</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:title="ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xml:lang="en-US" id="label_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_en-US">Equity loss in associated companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" use="optional" order="24" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DilutionGainInAssociatedCompanies" xlink:label="DilutionGainInAssociatedCompanies" xlink:title="DilutionGainInAssociatedCompanies"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DilutionGainInAssociatedCompanies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DilutionGainInAssociatedCompanies" xml:lang="en-US" id="label_emx_DilutionGainInAssociatedCompanies_en-US">Dilution gain in associated companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutionGainInAssociatedCompanies" xlink:to="label_emx_DilutionGainInAssociatedCompanies" use="optional" order="25" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DilutionGainInAssociatedCompanies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DilutionGainInAssociatedCompanies" xml:lang="en-US" id="documentation_emx_DilutionGainInAssociatedCompanies_en-US">Dilution gain in associated companies</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xml:lang="en-US" id="label_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_en-US">Foreign exchange gain (loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="label_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" use="optional" order="26" xlink:title=""/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestRevenueExpense" xlink:label="InterestRevenueExpense" xlink:title="InterestRevenueExpense"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:label="ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:title="ImpairmentLossRecognisedInProfitOrLossGoodwill"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment" xlink:label="GainsLossesOnDisposalsOfPropertyPlantAndEquipment" xlink:title="GainsLossesOnDisposalsOfPropertyPlantAndEquipment"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ProfitLossBeforeTax" xlink:title="ProfitLossBeforeTax"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ifrs-full_ProfitLossBeforeTax" use="optional" order="34" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="DeferredTaxExpenseIncome" xlink:title="DeferredTaxExpenseIncome"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_ProfitLoss" xml:lang="en-US" id="totalLabel_ifrs-full_ProfitLoss_en-US">Loss for the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ifrs-full_ProfitLoss" use="optional" order="36" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:label="BasicAndDilutedEarningsLossPerShare" xlink:title="BasicAndDilutedEarningsLossPerShare"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicAndDilutedEarningsLossPerShare" xlink:to="label_ifrs-full_BasicAndDilutedEarningsLossPerShare" use="optional" order="37" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageShares" xlink:label="WeightedAverageShares" xlink:title="WeightedAverageShares"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WeightedAverageShares" xml:lang="en-US" id="label_ifrs-full_WeightedAverageShares_en-US">Weighted average number of common shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageShares" xlink:to="label_ifrs-full_WeightedAverageShares" use="optional" order="38" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="StatementOfComprehensiveIncomeAbstract" xlink:title="StatementOfComprehensiveIncomeAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_StatementOfComprehensiveIncomeAbstract" xml:lang="en-US" id="label_ifrs-full_StatementOfComprehensiveIncomeAbstract_en-US">Statement of Income and Comprehensive Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfComprehensiveIncomeAbstract" xlink:to="label_ifrs-full_StatementOfComprehensiveIncomeAbstract" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProfitLoss" xml:lang="en-US" id="label_ifrs-full_ProfitLoss_en-US">Loss for the year</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeAbstract" xlink:label="OtherComprehensiveIncomeAbstract" xlink:title="OtherComprehensiveIncomeAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_OtherComprehensiveIncomeAbstract" xml:lang="en-US" id="label_ifrs-full_OtherComprehensiveIncomeAbstract_en-US">Other comprehensive income (loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeAbstract" xlink:to="label_ifrs-full_OtherComprehensiveIncomeAbstract" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:label="GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:title="GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xml:lang="en-US" id="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_en-US">Change in fair value of available-for-sale investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:to="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xml:lang="en-US" id="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax_en-US">Permanent loss on financial instruments</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:title="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ComprehensiveIncome" xml:lang="en-US" id="label_ifrs-full_ComprehensiveIncome_en-US">Comprehensive loss for the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ifrs-full_ComprehensiveIncome" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_StatementOfCashFlowsAbstract" xml:lang="en-US" id="label_ifrs-full_StatementOfCashFlowsAbstract_en-US">Statement of Cash Flows</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="label_ifrs-full_StatementOfCashFlowsAbstract" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="CashFlowsFromUsedInOperatingActivitiesAbstract"/>
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    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ProfitLoss" xml:lang="en-US" id="terseLabel_ifrs-full_ProfitLoss_en-US">Loss for the year</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ItemsNotAffectingOperatingActivitiesAbstract" xlink:label="ItemsNotAffectingOperatingActivitiesAbstract" xlink:title="ItemsNotAffectingOperatingActivitiesAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ItemsNotAffectingOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ItemsNotAffectingOperatingActivitiesAbstract" xml:lang="en-US" id="verboseLabel_emx_ItemsNotAffectingOperatingActivitiesAbstract_en-US">Items not affecting operating activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ItemsNotAffectingOperatingActivitiesAbstract" xlink:to="label_emx_ItemsNotAffectingOperatingActivitiesAbstract" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ItemsNotAffectingOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ItemsNotAffectingOperatingActivitiesAbstract" xml:lang="en-US" id="documentation_emx_ItemsNotAffectingOperatingActivitiesAbstract_en-US">Items not affecting operating activities:</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForInterestIncome" xlink:label="AdjustmentsForInterestIncome" xlink:title="AdjustmentsForInterestIncome"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForInterestIncome" xlink:to="label_ifrs-full_AdjustmentsForInterestIncome" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" xlink:label="AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" xlink:title="AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents_en-US">Unrealized foreign exchange effect on cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" xlink:to="label_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" use="optional" order="5" xlink:title=""/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="AdjustmentsForReconcileProfitLossAbstract" xlink:title="AdjustmentsForReconcileProfitLossAbstract"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="label_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xlink:label="AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xlink:title="AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments_en-US">Change in fair value of fair value throught profit or loss investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xlink:to="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xml:lang="en-US" id="documentation_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments_en-US">Change in fair value of fair value through profit or loss investments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForCommitmentToIssueShares" xlink:label="AdjustmentsForCommitmentToIssueShares" xlink:title="AdjustmentsForCommitmentToIssueShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForCommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForCommitmentToIssueShares" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForCommitmentToIssueShares_en-US">Commitment to issue shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForCommitmentToIssueShares" xlink:to="label_emx_AdjustmentsForCommitmentToIssueShares" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForCommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForCommitmentToIssueShares" xml:lang="en-US" id="documentation_emx_AdjustmentsForCommitmentToIssueShares_en-US">Commitment to issue shares</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForPermanentLossOnFinancialInstruments" xlink:label="AdjustmentsForPermanentLossOnFinancialInstruments" xlink:title="AdjustmentsForPermanentLossOnFinancialInstruments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForPermanentLossOnFinancialInstruments_en-US">Permanent loss on financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForPermanentLossOnFinancialInstruments" xlink:to="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments" xml:lang="en-US" id="documentation_emx_AdjustmentsForPermanentLossOnFinancialInstruments_en-US">Permanent loss on financial instruments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForInterestOnNotesReceivable" xlink:label="AdjustmentsForInterestOnNotesReceivable" xlink:title="AdjustmentsForInterestOnNotesReceivable"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForInterestOnNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForInterestOnNotesReceivable" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForInterestOnNotesReceivable_en-US">Interest on notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForInterestOnNotesReceivable" xlink:to="label_emx_AdjustmentsForInterestOnNotesReceivable" use="optional" order="10" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForInterestOnNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForInterestOnNotesReceivable" xml:lang="en-US" id="documentation_emx_AdjustmentsForInterestOnNotesReceivable_en-US">Interest on notes receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForInterestOnConvertibleLoan" xlink:label="AdjustmentsForInterestOnConvertibleLoan" xlink:title="AdjustmentsForInterestOnConvertibleLoan"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForInterestOnConvertibleLoan" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_AdjustmentsForInterestOnConvertibleLoan" xml:lang="en-US" id="negatedLabel_emx_AdjustmentsForInterestOnConvertibleLoan_en-US">Interest on convertible loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForInterestOnConvertibleLoan" xlink:to="label_emx_AdjustmentsForInterestOnConvertibleLoan" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForInterestOnConvertibleLoan" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForInterestOnConvertibleLoan" xml:lang="en-US" id="documentation_emx_AdjustmentsForInterestOnConvertibleLoan_en-US">Interest on convertible loan</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForAccretionInterestOnLongTermReceivable" xlink:label="AdjustmentsForAccretionInterestOnLongTermReceivable" xlink:title="AdjustmentsForAccretionInterestOnLongTermReceivable"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable" xml:lang="en-US" id="negatedLabel_emx_AdjustmentsForAccretionInterestOnLongTermReceivable_en-US">Accretion interest on receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForAccretionInterestOnLongTermReceivable" xlink:to="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable" use="optional" order="12" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable" xml:lang="en-US" id="documentation_emx_AdjustmentsForAccretionInterestOnLongTermReceivable_en-US">Accretion interest on receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForDerivativeLossOnAccountsReceivable" xlink:label="AdjustmentsForDerivativeLossOnAccountsReceivable" xlink:title="AdjustmentsForDerivativeLossOnAccountsReceivable"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForDerivativeLossOnAccountsReceivable_en-US">Derivative loss on accounts receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDerivativeLossOnAccountsReceivable" xlink:to="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable" xml:lang="en-US" id="documentation_emx_AdjustmentsForDerivativeLossOnAccountsReceivable_en-US">Derivative loss on accounts receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="AdjustmentsForSharebasedPayments" xlink:title="AdjustmentsForSharebasedPayments"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForSharebasedPayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForSharebasedPayments" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForSharebasedPayments_en-US">Share - based payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSharebasedPayments" xlink:to="label_ifrs-full_AdjustmentsForSharebasedPayments" use="optional" order="14" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:label="AdjustmentsForDeferredTaxExpense" xlink:title="AdjustmentsForDeferredTaxExpense"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForDeferredTaxExpense" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForDeferredTaxExpense_en-US">Deferred income tax recovery</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDeferredTaxExpense" xlink:to="label_ifrs-full_AdjustmentsForDeferredTaxExpense" use="optional" order="15" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:label="AdjustmentsForDepreciationAndAmortisationExpense" xlink:title="AdjustmentsForDepreciationAndAmortisationExpense"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_en-US">Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationAndAmortisationExpense" xlink:to="label_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" use="optional" order="16" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForDepletion" xlink:label="AdjustmentsForDepletion" xlink:title="AdjustmentsForDepletion"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDepletion" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForDepletion" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForDepletion_en-US">Depletion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepletion" xlink:to="label_emx_AdjustmentsForDepletion" use="optional" order="17" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDepletion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForDepletion" xml:lang="en-US" id="documentation_emx_AdjustmentsForDepletion_en-US">Depletion</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForGainOnOptionPaymentsReceived" xlink:label="AdjustmentsForGainOnOptionPaymentsReceived" xlink:title="AdjustmentsForGainOnOptionPaymentsReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainOnOptionPaymentsReceived" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_AdjustmentsForGainOnOptionPaymentsReceived" xml:lang="en-US" id="negatedLabel_emx_AdjustmentsForGainOnOptionPaymentsReceived_en-US">Gain on option payments received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainOnOptionPaymentsReceived" xlink:to="label_emx_AdjustmentsForGainOnOptionPaymentsReceived" use="optional" order="18" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainOnOptionPaymentsReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForGainOnOptionPaymentsReceived" xml:lang="en-US" id="documentation_emx_AdjustmentsForGainOnOptionPaymentsReceived_en-US">Gain on option payments received</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForImpairmentOfRoyaltyInterest" xlink:label="AdjustmentsForImpairmentOfRoyaltyInterest" xlink:title="AdjustmentsForImpairmentOfRoyaltyInterest"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForImpairmentOfRoyaltyInterest_en-US">Impairment of royalty interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForImpairmentOfRoyaltyInterest" xlink:to="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest" use="optional" order="19" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest" xml:lang="en-US" id="documentation_emx_AdjustmentsForImpairmentOfRoyaltyInterest_en-US">Impairment of royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:label="AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:title="AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill_en-US">Writedown of goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="label_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" use="optional" order="20" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xlink:label="AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xlink:title="AdjustmentsForGainsLossesOnDisposalOfSubsidiaries"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xml:lang="en-US" id="negatedLabel_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries_en-US">Gain on sale of subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xlink:to="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" use="optional" order="21" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xml:lang="en-US" id="documentation_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries_en-US">Gain on sale of subsidiaries</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" xlink:label="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" xlink:title="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables_en-US">Impairment of receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" xlink:to="label_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" use="optional" order="22" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" xlink:label="AdjustmentsForRealizedGainLossOnSaleOfInvestments" xlink:title="AdjustmentsForRealizedGainLossOnSaleOfInvestments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments_en-US">Realized (gain) loss on sale of investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForRealizedGainLossOnSaleOfInvestments" xlink:to="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" use="optional" order="23" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" xml:lang="en-US" id="documentation_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments_en-US">Realized (gain) loss on sale of investments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xlink:label="AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xlink:title="AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xml:lang="en-US" id="negatedLabel_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets_en-US">Gain on acquistion and sale of exploration and evalution assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xlink:to="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" use="optional" order="24" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xml:lang="en-US" id="documentation_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets_en-US">Gain on acquistion and sale of exploration and evalution assets</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:label="AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:title="AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xml:lang="en-US" id="negatedLabel_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_en-US">(Gain) loss on derecognition and sale of property and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="label_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" use="optional" order="25" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xlink:label="AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xlink:title="AdjustmentsForWriteOffOfExplorationAndEvaluationAssets"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets_en-US">Write-off of exploration and evaluation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xlink:to="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" use="optional" order="26" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xml:lang="en-US" id="documentation_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets_en-US">Write-off of exploration and evaluation assets</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:label="AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:title="AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xml:lang="en-US" id="negatedLabel_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_en-US">Equity loss in associated companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:to="label_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" use="optional" order="27" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForDilutionGainInAssociatedCompanies" xlink:label="AdjustmentsForDilutionGainInAssociatedCompanies" xlink:title="AdjustmentsForDilutionGainInAssociatedCompanies"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies" xml:lang="en-US" id="negatedLabel_emx_AdjustmentsForDilutionGainInAssociatedCompanies_en-US">Dilution gain in associated companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDilutionGainInAssociatedCompanies" xlink:to="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies" use="optional" order="28" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies" xml:lang="en-US" id="documentation_emx_AdjustmentsForDilutionGainInAssociatedCompanies_en-US">Dilution gain in associated companies</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:title="AdjustmentsForUnrealisedForeignExchangeLossesGains"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_en-US">Unrealized foreign exchange (gain) loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:to="label_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" use="optional" order="29" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" xlink:label="AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" xlink:title="AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" xml:lang="en-US" id="negatedLabel_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries_en-US">Shares received from joint venture partners included in exploration recoveries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" xlink:to="label_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" use="optional" order="30" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries" xml:lang="en-US" id="documentation_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries_en-US">Shares received from joint venture partners included in exploration recoveries</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ChangesInNonCashWorkingCapitalItemsAbstract" xlink:label="ChangesInNonCashWorkingCapitalItemsAbstract" xlink:title="ChangesInNonCashWorkingCapitalItemsAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ChangesInNonCashWorkingCapitalItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ChangesInNonCashWorkingCapitalItemsAbstract" xml:lang="en-US" id="verboseLabel_emx_ChangesInNonCashWorkingCapitalItemsAbstract_en-US">Changes in non-cash working capital items:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInNonCashWorkingCapitalItemsAbstract" xlink:to="label_emx_ChangesInNonCashWorkingCapitalItemsAbstract" use="optional" order="31" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ChangesInNonCashWorkingCapitalItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ChangesInNonCashWorkingCapitalItemsAbstract" xml:lang="en-US" id="documentation_emx_ChangesInNonCashWorkingCapitalItemsAbstract_en-US">Changes in non-cash working capital items:</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:label="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_en-US">Receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="label_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" use="optional" order="32" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:label="AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:title="AdjustmentsForDecreaseIncreaseInOtherCurrentAssets"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets_en-US">Prepaid expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:to="label_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" use="optional" order="33" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:label="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xml:lang="en-US" id="terseLabel_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_en-US">Accounts payable and accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="label_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" use="optional" order="34" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" xlink:label="AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" xlink:title="AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" xml:lang="en-US" id="verboseLabel_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners_en-US">Advances from joint venture partners</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" xlink:to="label_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" use="optional" order="35" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners" xml:lang="en-US" id="documentation_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners_en-US">Advances from joint venture partners</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="CashFlowsFromUsedInOperatingActivities" xlink:title="CashFlowsFromUsedInOperatingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_CashFlowsFromUsedInOperatingActivities" xml:lang="en-US" id="totalLabel_ifrs-full_CashFlowsFromUsedInOperatingActivities_en-US">Total cash used in operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInOperatingActivities" use="optional" order="36" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xml:lang="en-US" id="label_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_en-US">Cash flows from investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="label_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" use="optional" order="37" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" xlink:label="AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" xlink:title="AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" xml:lang="en-US" id="verboseLabel_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived_en-US">Acquisition and sale of exploration and evaluation assets, net of option payments received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" xlink:to="label_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" use="optional" order="38" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived" xml:lang="en-US" id="documentation_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived_en-US">Acquisition and sale of exploration and evaluation assets, net option payments received</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:label="InterestReceivedClassifiedAsInvestingActivities" xlink:title="InterestReceivedClassifiedAsInvestingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xml:lang="en-US" id="label_ifrs-full_InterestReceivedClassifiedAsInvestingActivities_en-US">Interest received on cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestReceivedClassifiedAsInvestingActivities" xlink:to="label_ifrs-full_InterestReceivedClassifiedAsInvestingActivities" use="optional" order="39" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:label="CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:title="CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xml:lang="en-US" id="negatedLabel_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities_en-US">Notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:to="label_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" use="optional" order="40" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:title="ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xml:lang="en-US" id="label_ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_en-US">Proceeds from sale of fair value through profit and loss investments, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="label_ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" use="optional" order="41" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments" xlink:label="ProceedsPurchaseOfAvailableForSaleFinancialInstruments" xlink:title="ProceedsPurchaseOfAvailableForSaleFinancialInstruments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments" xml:lang="en-US" id="verboseLabel_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments_en-US">Proceeds of available-for-sale financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsPurchaseOfAvailableForSaleFinancialInstruments" xlink:to="label_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments" use="optional" order="42" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments" xml:lang="en-US" id="documentation_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments_en-US">Proceeds of available-for-sale financial instruments</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:label="PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:title="PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xml:lang="en-US" id="negatedLabel_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_en-US">Purchase of investments in associated companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:to="label_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" use="optional" order="43" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:label="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xml:lang="en-US" id="terseLabel_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents_en-US">Restricted cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:to="label_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" use="optional" order="44" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PurchaseAndSaleOfPropertyAndEquipmentNet" xlink:label="PurchaseAndSaleOfPropertyAndEquipmentNet" xlink:title="PurchaseAndSaleOfPropertyAndEquipmentNet"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PurchaseAndSaleOfPropertyAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_PurchaseAndSaleOfPropertyAndEquipmentNet" xml:lang="en-US" id="verboseLabel_emx_PurchaseAndSaleOfPropertyAndEquipmentNet_en-US">Purchase and sale of property and equipment, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseAndSaleOfPropertyAndEquipmentNet" xlink:to="label_emx_PurchaseAndSaleOfPropertyAndEquipmentNet" use="optional" order="45" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PurchaseAndSaleOfPropertyAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PurchaseAndSaleOfPropertyAndEquipmentNet" xml:lang="en-US" id="documentation_emx_PurchaseAndSaleOfPropertyAndEquipmentNet_en-US">Purchase and sale of property and equipment, net</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PurchaseAndProceedsFromReclamationBonds" xlink:label="PurchaseAndProceedsFromReclamationBonds" xlink:title="PurchaseAndProceedsFromReclamationBonds"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PurchaseAndProceedsFromReclamationBonds" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_PurchaseAndProceedsFromReclamationBonds" xml:lang="en-US" id="verboseLabel_emx_PurchaseAndProceedsFromReclamationBonds_en-US">Reclamation bonds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseAndProceedsFromReclamationBonds" xlink:to="label_emx_PurchaseAndProceedsFromReclamationBonds" use="optional" order="46" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PurchaseAndProceedsFromReclamationBonds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PurchaseAndProceedsFromReclamationBonds" xml:lang="en-US" id="documentation_emx_PurchaseAndProceedsFromReclamationBonds_en-US">Reclamation bonds</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="CashFlowsFromUsedInInvestingActivities" xlink:title="CashFlowsFromUsedInInvestingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_CashFlowsFromUsedInInvestingActivities" xml:lang="en-US" id="totalLabel_ifrs-full_CashFlowsFromUsedInInvestingActivities_en-US">Total cash provided by (used in) investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInInvestingActivities" use="optional" order="47" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:title="CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xml:lang="en-US" id="label_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_en-US">Cash flows from financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="label_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" use="optional" order="48" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProceedsFromIssuingShares" xml:lang="en-US" id="label_ifrs-full_ProceedsFromIssuingShares_en-US">Proceeds received from private placement, net of share issue costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuingShares" xlink:to="label_ifrs-full_ProceedsFromIssuingShares" use="optional" order="49" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromExerciseOfOptions" xlink:label="ProceedsFromExerciseOfOptions" xlink:title="ProceedsFromExerciseOfOptions"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProceedsFromExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProceedsFromExerciseOfOptions" xml:lang="en-US" id="label_ifrs-full_ProceedsFromExerciseOfOptions_en-US">Proceeds from exercise of options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromExerciseOfOptions" xlink:to="label_ifrs-full_ProceedsFromExerciseOfOptions" use="optional" order="50" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="CashFlowsFromUsedInFinancingActivities" xlink:title="CashFlowsFromUsedInFinancingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_CashFlowsFromUsedInFinancingActivities" xml:lang="en-US" id="totalLabel_ifrs-full_CashFlowsFromUsedInFinancingActivities_en-US">Total cash provided by financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInFinancingActivities" use="optional" order="51" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xml:lang="en-US" id="label_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_en-US">Effect of exchange rate changes on cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="label_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" use="optional" order="52" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="IncreaseDecreaseInCashAndCashEquivalents" xlink:title="IncreaseDecreaseInCashAndCashEquivalents"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xml:lang="en-US" id="totalLabel_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_en-US">Change in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalents" xlink:to="label_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" use="optional" order="53" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_CashAndCashEquivalents" xml:lang="en-US" id="periodStartLabel_ifrs-full_CashAndCashEquivalents_en-US">Cash and cash equivalents, beginning</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_CashAndCashEquivalents" xml:lang="en-US" id="periodEndLabel_ifrs-full_CashAndCashEquivalents_en-US">Cash and cash equivalents, ending</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ComponentsOfEquityAxis" xml:lang="en-US" id="label_ifrs-full_ComponentsOfEquityAxis_en-US">Components of equity [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfEquityAxis" xlink:to="label_ifrs-full_ComponentsOfEquityAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_EquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_EquityMember" xml:lang="en-US" id="label_ifrs-full_EquityMember_en-US">Equity components [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMember" xlink:to="label_ifrs-full_EquityMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssuedCapitalMember" xlink:label="IssuedCapitalMember" xlink:title="IssuedCapitalMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IssuedCapitalMember" xml:lang="en-US" id="label_ifrs-full_IssuedCapitalMember_en-US">Capital stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_ifrs-full_IssuedCapitalMember" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CommitmentToIssueSharesMember" xlink:label="CommitmentToIssueSharesMember" xlink:title="CommitmentToIssueSharesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommitmentToIssueSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CommitmentToIssueSharesMember" xml:lang="en-US" id="label_emx_CommitmentToIssueSharesMember_en-US">Commitment to issue shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentToIssueSharesMember" xlink:to="label_emx_CommitmentToIssueSharesMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommitmentToIssueSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CommitmentToIssueSharesMember" xml:lang="en-US" id="documentation_emx_CommitmentToIssueSharesMember_en-US">Commitment to issue shares</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:label="ReserveOfSharebasedPaymentsMember" xlink:title="ReserveOfSharebasedPaymentsMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ReserveOfSharebasedPaymentsMember" xml:lang="en-US" id="label_ifrs-full_ReserveOfSharebasedPaymentsMember_en-US">Share-based payments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfSharebasedPaymentsMember" xlink:to="label_ifrs-full_ReserveOfSharebasedPaymentsMember" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:label="AccumulatedOtherComprehensiveIncomeMember" xlink:title="AccumulatedOtherComprehensiveIncomeMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US" id="label_ifrs-full_AccumulatedOtherComprehensiveIncomeMember_en-US">Accumulated other comprehensive gain (loss) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="label_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_RetainedEarningsMember" xml:lang="en-US" id="label_ifrs-full_RetainedEarningsMember_en-US">Deficit [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_ifrs-full_RetainedEarningsMember" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="StatementOfChangesInEquityAbstract" xlink:title="StatementOfChangesInEquityAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_StatementOfChangesInEquityAbstract" xml:lang="en-US" id="label_ifrs-full_StatementOfChangesInEquityAbstract_en-US">Statement of Stockholders Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityAbstract" xlink:to="label_ifrs-full_StatementOfChangesInEquityAbstract" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_Equity" xml:lang="en-US" id="periodStartLabel_ifrs-full_Equity_en-US">Beginning Balance</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_NumberOfSharesOutstanding" xml:lang="en-US" id="periodStartLabel_ifrs-full_NumberOfSharesOutstanding_en-US">Beginning Balance (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesOutstanding" xlink:to="label_ifrs-full_NumberOfSharesOutstanding" use="optional" order="1.1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_SharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_SharesIssued" xml:lang="en-US" id="label_ifrs-full_SharesIssued_en-US">Shares Issued (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xlink:label="IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xlink:title="IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest_en-US">Shares issued for acquisition of a royalty interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xlink:to="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest_en-US">Shares issued for acquisition of a royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xlink:label="IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xlink:title="IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares_en-US">Shares issued for acquisition of a royalty interest (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xlink:to="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" use="optional" order="2.1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares_en-US">Shares issued for acquisition of a royalty interest (Shares)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SharesIssued" xml:lang="en-US" id="label_emx_SharesIssued_en-US">Shares Issued (Shares) (SharesIssued)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" xlink:label="IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" xlink:title="IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants_en-US">Shares issued as incentive stock grants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" xlink:to="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants_en-US">Shares issued as incentive stock grants</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xlink:label="IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xlink:title="IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares_en-US">Shares issued as incentive stock grants (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xlink:to="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" use="optional" order="3.1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares_en-US">Shares issued as incentive stock grants (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:label="IncreaseDecreaseThroughExerciseOfOptions" xlink:title="IncreaseDecreaseThroughExerciseOfOptions"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xml:lang="en-US" id="label_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_en-US">Shares issued for exercise of options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughExerciseOfOptions" xlink:to="label_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xlink:label="IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xlink:title="IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xml:lang="en-US" id="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions_en-US">Shares issued for exercise of options (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xlink:to="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" use="optional" order="4.1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IssueOfEquity" xml:lang="en-US" id="label_ifrs-full_IssueOfEquity_en-US">Shares issued for private placement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_ifrs-full_IssueOfEquity" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:label="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:title="IncreaseDecreaseInNumberOfSharesOutstanding"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xml:lang="en-US" id="label_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding_en-US">Shares issued for private placement (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfSharesOutstanding" xlink:to="label_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" use="optional" order="5.1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughSharesIssuedForProperty" xlink:label="IncreaseDecreaseThroughSharesIssuedForProperty" xlink:title="IncreaseDecreaseThroughSharesIssuedForProperty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForProperty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForProperty" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughSharesIssuedForProperty_en-US">Shares issued for property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharesIssuedForProperty" xlink:to="label_emx_IncreaseDecreaseThroughSharesIssuedForProperty" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForProperty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForProperty" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughSharesIssuedForProperty_en-US">Shares issued for property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares" xlink:label="IncreaseDecreaseThroughSharesIssuedForPropertyShares" xlink:title="IncreaseDecreaseThroughSharesIssuedForPropertyShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares_en-US">Shares issued for property (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharesIssuedForPropertyShares" xlink:to="label_emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares" use="optional" order="6.1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughSharesIssuedForPropertyShares_en-US">Shares issued for property (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xlink:label="IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xlink:title="IncreaseDecreaseThroughEquityInvestmentShareBasedPayments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments_en-US">Equity investment share-based payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xlink:to="label_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments_en-US">Equity investment share-based payments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughCommitmentToIssueShares" xlink:label="IncreaseDecreaseThroughCommitmentToIssueShares" xlink:title="IncreaseDecreaseThroughCommitmentToIssueShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughCommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughCommitmentToIssueShares" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughCommitmentToIssueShares_en-US">Commitment to issue shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughCommitmentToIssueShares" xlink:to="label_emx_IncreaseDecreaseThroughCommitmentToIssueShares" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughCommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughCommitmentToIssueShares" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughCommitmentToIssueShares_en-US">Commitment to issue shares</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughFinderSFeesInUnits" xlink:label="IncreaseDecreaseThroughFinderSFeesInUnits" xlink:title="IncreaseDecreaseThroughFinderSFeesInUnits"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughFinderSFeesInUnits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughFinderSFeesInUnits" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughFinderSFeesInUnits_en-US">Finder's fees in units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughFinderSFeesInUnits" xlink:to="label_emx_IncreaseDecreaseThroughFinderSFeesInUnits" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughFinderSFeesInUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughFinderSFeesInUnits" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughFinderSFeesInUnits_en-US">Finder's fees in units</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" xlink:label="IncreaseDecreaseThroughFinderSFeesInUnitsShares" xlink:title="IncreaseDecreaseThroughFinderSFeesInUnitsShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares_en-US">Finder's fees in units (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughFinderSFeesInUnitsShares" xlink:to="label_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" use="optional" order="9.1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares_en-US">Finder's fees in units (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xml:lang="en-US" id="terseLabel_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_en-US">Share - based payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="label_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" use="optional" order="10" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions_en-US">Share - based payments (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions" xlink:to="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions" use="optional" order="10.1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits" xlink:label="IncreaseDecreaseThroughShareIssuanceCostsInUnits" xlink:title="IncreaseDecreaseThroughShareIssuanceCostsInUnits"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits_en-US">Share issuance costs in units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughShareIssuanceCostsInUnits" xlink:to="label_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits_en-US">Share issuance costs in units</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinanceCosts" xlink:label="FinanceCosts" xlink:title="FinanceCosts"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_FinanceCosts" xml:lang="en-US" id="negatedLabel_ifrs-full_FinanceCosts_en-US">Share issuance costs in cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceCosts" xlink:to="label_ifrs-full_FinanceCosts" use="optional" order="12" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ReclassOfReservesOnExerciseOfOptions" xlink:label="ReclassOfReservesOnExerciseOfOptions" xlink:title="ReclassOfReservesOnExerciseOfOptions"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclassOfReservesOnExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ReclassOfReservesOnExerciseOfOptions" xml:lang="en-US" id="verboseLabel_emx_ReclassOfReservesOnExerciseOfOptions_en-US">Reclass of reserves on exercise of options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassOfReservesOnExerciseOfOptions" xlink:to="label_emx_ReclassOfReservesOnExerciseOfOptions" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclassOfReservesOnExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ReclassOfReservesOnExerciseOfOptions" xml:lang="en-US" id="documentation_emx_ReclassOfReservesOnExerciseOfOptions_en-US">Reclass of reserves on exercise of options</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xml:lang="en-US" id="terseLabel_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_en-US">Foreign currency translation adjustment</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xml:lang="en-US" id="terseLabel_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_en-US">Change in fair value of financial instruments</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax" xml:lang="en-US" id="terseLabel_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax_en-US">Permanent loss on financial instruments</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/negativeLabel" xlink:title="label_ifrs-full_ProfitLoss" xml:lang="en-US" id="negativeLabel_ifrs-full_ProfitLoss_en-US">Loss for the year</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_Equity" xml:lang="en-US" id="periodEndLabel_ifrs-full_Equity_en-US">Ending Balance</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_NumberOfSharesOutstanding" xml:lang="en-US" id="periodEndLabel_ifrs-full_NumberOfSharesOutstanding_en-US">Ending Balance (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NotesToFinancialStatementsAbstract" xlink:label="NotesToFinancialStatementsAbstract" xlink:title="NotesToFinancialStatementsAbstract"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NotesToFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NotesToFinancialStatementsAbstract" xml:lang="en-US" id="label_emx_NotesToFinancialStatementsAbstract_en-US">Notes to Financial Statements [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesToFinancialStatementsAbstract" xlink:to="label_emx_NotesToFinancialStatementsAbstract" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NotesToFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NotesToFinancialStatementsAbstract" xml:lang="en-US" id="documentation_emx_NotesToFinancialStatementsAbstract_en-US">Notes to Financial Statements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:label="DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:title="DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xml:lang="en-US" id="label_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_en-US">NATURE OF OPERATIONS AND GOING CONCERN [Text Block]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:title="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:label="DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:title="DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="label_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" xlink:label="DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" xlink:title="DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" xml:lang="en-US" id="verboseLabel_emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock_en-US">Disclosure of detailed information about associates [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" xlink:to="label_emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock" xml:lang="en-US" id="documentation_emx_DisclosureOfDetailedInformationAboutAssociatesExplanatoryTableTextBlock_en-US">Disclosure of detailed information about associates explanatory</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" xlink:label="DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" xlink:title="DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" xml:lang="en-US" id="verboseLabel_emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory_en-US">Disclosure of detailed information about exploration assets [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" xlink:to="label_emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory" xml:lang="en-US" id="documentation_emx_DisclosureOfDetailedInformationAboutExplorationAssetsExplanatory_en-US">Disclosure of detailed information about exploration assets [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" xlink:label="DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" xlink:title="DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" xml:lang="en-US" id="verboseLabel_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock_en-US">Disclosure of detailed information about exploration expenditures [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" xlink:to="label_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock" xml:lang="en-US" id="documentation_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock_en-US">Disclosure of detailed information about exploration expenditures explanatory</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" xlink:label="DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" xlink:title="DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" xml:lang="en-US" id="verboseLabel_emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock_en-US">Disclosure of detailed information about royalty interest [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" xlink:to="label_emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock" xml:lang="en-US" id="documentation_emx_DisclosureOfDetailedInformationAboutRoyaltyInterestExplanatoryTableTextBlock_en-US">Disclosure of detailed information about royalty interest explanatory</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutReclamationBondsExplanatoryTableTextBlock" xlink:label="DisclosureOfDetailedInformationAboutReclamationBondsExplanatoryTableTextBlock" xlink:title="DisclosureOfDetailedInformationAboutReclamationBondsExplanatoryTableTextBlock"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory" xlink:label="DisclosureOfReconciliationOfChangesInGoodwillExplanatory" xlink:title="DisclosureOfReconciliationOfChangesInGoodwillExplanatory"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfJointOperationsExplanatory" xlink:label="DisclosureOfJointOperationsExplanatory" xlink:title="DisclosureOfJointOperationsExplanatory"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJointOperationsExplanatory" xlink:to="label_ifrs-full_DisclosureOfJointOperationsExplanatory" use="optional" order="12" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:label="DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:title="DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:to="label_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" use="optional" order="13" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:label="DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:title="DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory"/>
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    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutUnitsActivityExplanatory" xlink:label="DisclosureOfDetailedInformationAboutUnitsActivityExplanatory" xlink:title="DisclosureOfDetailedInformationAboutUnitsActivityExplanatory"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutUnitsActivityExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisclosureOfDetailedInformationAboutUnitsActivityExplanatory" xml:lang="en-US" id="verboseLabel_emx_DisclosureOfDetailedInformationAboutUnitsActivityExplanatory_en-US">Disclosure of detailed information about restricted share units [Table Text Block]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:label="DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:title="DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
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    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory" xlink:label="DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory" xlink:title="DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory" xlink:to="label_emx_DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory" use="optional" order="17" xlink:title=""/>
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    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory" xlink:label="DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory" xlink:title="DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory" xlink:to="label_emx_DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory" use="optional" order="18" xlink:title=""/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:label="DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:title="DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory"/>
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    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfIncomeTaxExpenseExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfIncomeTaxExpenseExplanatoryTableTextBlock" xml:lang="en-US" id="documentation_emx_DisclosureOfIncomeTaxExpenseExplanatoryTableTextBlock_en-US">Disclosure of income tax expense explanatory</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" xlink:label="DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" xlink:title="DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" xlink:to="label_emx_DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" use="optional" order="23" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" xml:lang="en-US" id="documentation_emx_DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory_en-US">Disclosure of detailed information about effective income tax expense recovery [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" xlink:label="DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" xlink:title="DisclosureOfInformationAboutKeyManagementPersonnelExplanatory"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" xml:lang="en-US" id="label_ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory_en-US">Disclosure of information about key management personnel [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" xlink:to="label_ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" use="optional" order="24" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" xlink:label="DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" xlink:title="DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" xml:lang="en-US" id="verboseLabel_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock_en-US">Disclosure of exploration and evaluation assets by location [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" xlink:to="label_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" use="optional" order="25" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" xml:lang="en-US" id="documentation_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock_en-US">Disclosure of exploration and evaluation assets by location explanatory</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" xlink:label="DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" xlink:title="DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" xml:lang="en-US" id="verboseLabel_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock_en-US">Disclosure of property and equipment by location [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" xlink:to="label_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" use="optional" order="26" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" xml:lang="en-US" id="documentation_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock_en-US">Disclosure of property and equipment by location explanatory</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFinancialAssetsExplanatory" xlink:label="DisclosureOfFinancialAssetsExplanatory" xlink:title="DisclosureOfFinancialAssetsExplanatory"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsExplanatory" xlink:to="label_ifrs-full_DisclosureOfFinancialAssetsExplanatory" use="optional" order="27" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisclosureOfCurrencyRiskExplanatoryTableTextBlock" xlink:label="DisclosureOfCurrencyRiskExplanatoryTableTextBlock" xlink:title="DisclosureOfCurrencyRiskExplanatoryTableTextBlock"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCurrencyRiskExplanatoryTableTextBlock" xlink:to="label_emx_DisclosureOfCurrencyRiskExplanatoryTableTextBlock" use="optional" order="28" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisclosureOfCurrencyRiskExplanatoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisclosureOfCurrencyRiskExplanatoryTableTextBlock" xml:lang="en-US" id="documentation_emx_DisclosureOfCurrencyRiskExplanatoryTableTextBlock_en-US">Disclosure of currency risk explanatory</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:label="DisclosureOfCashAndCashEquivalentsExplanatory" xlink:title="DisclosureOfCashAndCashEquivalentsExplanatory"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:label="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:title="UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment"/>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome" xlink:label="DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome" xlink:title="DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome" xml:lang="en-US" id="verboseLabel_ifrs-full_DescriptionOfReasonsWhyPresumptionThatInterestOfMoreThanTwentyPerCentInAssociateIsOvercome_en-US">Description of reasons why presumption investor has significant influence is overcome when its interest in investee is more than twenty per cent</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:label="GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:title="GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xml:lang="en-US" id="negatedTerseLabel_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax_en-US">Permanent loss recorded in the fair value of available for sale investments</link:label>
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    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfRestrictedCashAxis" xlink:label="ComponentsOfRestrictedCashAxis" xlink:title="ComponentsOfRestrictedCashAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfRestrictedCashAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfRestrictedCashAxis" xml:lang="en-US" id="label_emx_ComponentsOfRestrictedCashAxis_en-US">Components of restricted cash [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfRestrictedCashAxis" xlink:to="label_emx_ComponentsOfRestrictedCashAxis" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfRestrictedCashAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfRestrictedCashAxis" xml:lang="en-US" id="documentation_emx_ComponentsOfRestrictedCashAxis_en-US">Components of restricted cash</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfRestrictedCashDomain" xlink:label="ComponentsOfRestrictedCashDomain" xlink:title="ComponentsOfRestrictedCashDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfRestrictedCashDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfRestrictedCashDomain" xml:lang="en-US" id="label_emx_ComponentsOfRestrictedCashDomain_en-US">Components of restricted cash [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfRestrictedCashDomain" xlink:to="label_emx_ComponentsOfRestrictedCashDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfRestrictedCashDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfRestrictedCashDomain" xml:lang="en-US" id="documentation_emx_ComponentsOfRestrictedCashDomain_en-US">Components of restricted cash</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_HeldAsCollateralForItsCorporateCreditCardsMember" xlink:label="HeldAsCollateralForItsCorporateCreditCardsMember" xlink:title="HeldAsCollateralForItsCorporateCreditCardsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_HeldAsCollateralForItsCorporateCreditCardsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_HeldAsCollateralForItsCorporateCreditCardsMember" xml:lang="en-US" id="label_emx_HeldAsCollateralForItsCorporateCreditCardsMember_en-US">Held as collateral for its corporate credit cards [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HeldAsCollateralForItsCorporateCreditCardsMember" xlink:to="label_emx_HeldAsCollateralForItsCorporateCreditCardsMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_HeldAsCollateralForItsCorporateCreditCardsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_HeldAsCollateralForItsCorporateCreditCardsMember" xml:lang="en-US" id="documentation_emx_HeldAsCollateralForItsCorporateCreditCardsMember_en-US">Held as collateral for its corporate credit cards</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" xlink:label="HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" xlink:title="HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" xml:lang="en-US" id="label_emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember_en-US">Held as a security deposit for the Companys Haiti exploration program [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" xlink:to="label_emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" xml:lang="en-US" id="documentation_emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember_en-US">Held as a security deposit for the Companys Haiti exploration program</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" xlink:label="HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" xlink:title="HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" xml:lang="en-US" id="verboseLabel_emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember_en-US">Held by wholly-owned subsidiaries for ongoing option agreements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" xlink:to="label_emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" xml:lang="en-US" id="documentation_emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember_en-US">Held by wholly-owned subsidiaries for ongoing option agreements</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xml:lang="en-US" id="terseLabel_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_en-US">Restricted cash</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xml:lang="en-US" id="label_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_en-US">Classes of property, plant and equipment [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="label_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_PropertyPlantAndEquipmentMember" xml:lang="en-US" id="label_ifrs-full_PropertyPlantAndEquipmentMember_en-US">Property, plant and equipment [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="label_ifrs-full_PropertyPlantAndEquipmentMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExplorationAndEvaluationAssetsMember" xlink:label="ExplorationAndEvaluationAssetsMember" xlink:title="ExplorationAndEvaluationAssetsMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExplorationAndEvaluationAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ExplorationAndEvaluationAssetsMember" xml:lang="en-US" id="label_ifrs-full_ExplorationAndEvaluationAssetsMember_en-US">Exploration and evaluation assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationAndEvaluationAssetsMember" xlink:to="label_ifrs-full_ExplorationAndEvaluationAssetsMember" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FieldMember" xlink:label="FieldMember" xlink:title="FieldMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FieldMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FieldMember" xml:lang="en-US" id="label_emx_FieldMember_en-US">Field [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FieldMember" xlink:to="label_emx_FieldMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FieldMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FieldMember" xml:lang="en-US" id="documentation_emx_FieldMember_en-US">Field</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_DepreciationExpense" xml:lang="en-US" id="terseLabel_ifrs-full_DepreciationExpense_en-US">Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:label="GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:title="GainsOnDisposalsOfPropertyPlantAndEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xml:lang="en-US" id="verboseLabel_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment_en-US">Gains on disposals of property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:to="label_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets" xml:lang="en-US" id="terseLabel_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets_en-US">Gain (loss) on acquisition and sale of exploration and evaluation assets</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xml:lang="en-US" id="label_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_en-US">Additions other than through business combinations, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="label_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:label="DisposalsPropertyPlantAndEquipment" xlink:title="DisposalsPropertyPlantAndEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DisposalsPropertyPlantAndEquipment" xml:lang="en-US" id="label_ifrs-full_DisposalsPropertyPlantAndEquipment_en-US">Disposals, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsPropertyPlantAndEquipment" xlink:to="label_ifrs-full_DisposalsPropertyPlantAndEquipment" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="en-US" id="verboseLabel_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_en-US">Proceeds from sales of property, plant and equipment, classified as investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_BorrowingsByNameAxis" xml:lang="en-US" id="label_ifrs-full_BorrowingsByNameAxis_en-US">Borrowings by name [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameAxis" xlink:to="label_ifrs-full_BorrowingsByNameAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_BorrowingsByNameMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_BorrowingsByNameMember" xml:lang="en-US" id="label_ifrs-full_BorrowingsByNameMember_en-US">Borrowings by name [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameMember" xlink:to="label_ifrs-full_BorrowingsByNameMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IGCLoanMember" xlink:label="IGCLoanMember" xlink:title="IGCLoanMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IGCLoanMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IGCLoanMember" xml:lang="en-US" id="verboseLabel_emx_IGCLoanMember_en-US">IGC Loan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGCLoanMember" xlink:to="label_emx_IGCLoanMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IGCLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IGCLoanMember" xml:lang="en-US" id="documentation_emx_IGCLoanMember_en-US">IGC Loan</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NotesReceivableToReveloResourcesCorpMember" xlink:label="NotesReceivableToReveloResourcesCorpMember" xlink:title="NotesReceivableToReveloResourcesCorpMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NotesReceivableToReveloResourcesCorpMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NotesReceivableToReveloResourcesCorpMember" xml:lang="en-US" id="label_emx_NotesReceivableToReveloResourcesCorpMember_en-US">Notes receivable to Revelo Resources Corp., [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableToReveloResourcesCorpMember" xlink:to="label_emx_NotesReceivableToReveloResourcesCorpMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NotesReceivableToReveloResourcesCorpMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NotesReceivableToReveloResourcesCorpMember" xml:lang="en-US" id="documentation_emx_NotesReceivableToReveloResourcesCorpMember_en-US">Notes receivable to Revelo Resources Corp.,</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_LoanAuthorised" xlink:label="LoanAuthorised" xlink:title="LoanAuthorised"/>
    <link:label xlink:type="resource" xlink:label="label_emx_LoanAuthorised" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_LoanAuthorised" xml:lang="en-US" id="verboseLabel_emx_LoanAuthorised_en-US">Loan authorised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanAuthorised" xlink:to="label_emx_LoanAuthorised" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_LoanAuthorised" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_LoanAuthorised" xml:lang="en-US" id="documentation_emx_LoanAuthorised_en-US">Loan authorised</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_BorrowingsInterestRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_BorrowingsInterestRate" xml:lang="en-US" id="verboseLabel_ifrs-full_BorrowingsInterestRate_en-US">Borrowings, interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRate" xlink:to="label_ifrs-full_BorrowingsInterestRate" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromNoncurrentBorrowings" xlink:label="ProceedsFromNoncurrentBorrowings" xlink:title="ProceedsFromNoncurrentBorrowings"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProceedsFromNoncurrentBorrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ProceedsFromNoncurrentBorrowings" xml:lang="en-US" id="verboseLabel_ifrs-full_ProceedsFromNoncurrentBorrowings_en-US">Proceeds from non-current borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromNoncurrentBorrowings" xlink:to="label_ifrs-full_ProceedsFromNoncurrentBorrowings" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExpensesPaidAmountAddedToLoan" xlink:label="ExpensesPaidAmountAddedToLoan" xlink:title="ExpensesPaidAmountAddedToLoan"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExpensesPaidAmountAddedToLoan" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ExpensesPaidAmountAddedToLoan" xml:lang="en-US" id="verboseLabel_emx_ExpensesPaidAmountAddedToLoan_en-US">Expenses paid, amount added to loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensesPaidAmountAddedToLoan" xlink:to="label_emx_ExpensesPaidAmountAddedToLoan" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExpensesPaidAmountAddedToLoan" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExpensesPaidAmountAddedToLoan" xml:lang="en-US" id="documentation_emx_ExpensesPaidAmountAddedToLoan_en-US">Expenses paid, amount added to loan</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfConversionOfDebtToEquity" xlink:label="DescriptionOfConversionOfDebtToEquity" xlink:title="DescriptionOfConversionOfDebtToEquity"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfConversionOfDebtToEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_DescriptionOfConversionOfDebtToEquity" xml:lang="en-US" id="verboseLabel_ifrs-full_DescriptionOfConversionOfDebtToEquity_en-US">Description of conversion of debt to equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfConversionOfDebtToEquity" xlink:to="label_ifrs-full_DescriptionOfConversionOfDebtToEquity" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement_en-US">Weighted average exercise price of warrants granted in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:to="label_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="documentation_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement_en-US">Weighted average exercise price of warrants granted in share-based payment arrangement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdditionalProceedsFromNonCurrentBorrowings" xlink:label="AdditionalProceedsFromNonCurrentBorrowings" xlink:title="AdditionalProceedsFromNonCurrentBorrowings"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdditionalProceedsFromNonCurrentBorrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdditionalProceedsFromNonCurrentBorrowings" xml:lang="en-US" id="verboseLabel_emx_AdditionalProceedsFromNonCurrentBorrowings_en-US">Additional Proceeds from non-current borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalProceedsFromNonCurrentBorrowings" xlink:to="label_emx_AdditionalProceedsFromNonCurrentBorrowings" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdditionalProceedsFromNonCurrentBorrowings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdditionalProceedsFromNonCurrentBorrowings" xml:lang="en-US" id="documentation_emx_AdditionalProceedsFromNonCurrentBorrowings_en-US">Additional Proceeds from non-current borrowings</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountConverted" xlink:label="AmountConverted" xlink:title="AmountConverted"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConverted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AmountConverted" xml:lang="en-US" id="verboseLabel_emx_AmountConverted_en-US">Amount converted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountConverted" xlink:to="label_emx_AmountConverted" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConverted" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountConverted" xml:lang="en-US" id="documentation_emx_AmountConverted_en-US">Amount converted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AccruedInterestConverted" xlink:label="AccruedInterestConverted" xlink:title="AccruedInterestConverted"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AccruedInterestConverted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AccruedInterestConverted" xml:lang="en-US" id="verboseLabel_emx_AccruedInterestConverted_en-US">Accrued interest converted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedInterestConverted" xlink:to="label_emx_AccruedInterestConverted" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AccruedInterestConverted" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AccruedInterestConverted" xml:lang="en-US" id="documentation_emx_AccruedInterestConverted_en-US">Accrued interest converted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountConvertedConversionPrice" xlink:label="AmountConvertedConversionPrice" xlink:title="AmountConvertedConversionPrice"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConvertedConversionPrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AmountConvertedConversionPrice" xml:lang="en-US" id="verboseLabel_emx_AmountConvertedConversionPrice_en-US">Amount converted, conversion price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountConvertedConversionPrice" xlink:to="label_emx_AmountConvertedConversionPrice" use="optional" order="10" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConvertedConversionPrice" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountConvertedConversionPrice" xml:lang="en-US" id="documentation_emx_AmountConvertedConversionPrice_en-US">Amount converted, conversion price</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountConvertedUnitsGranted" xlink:label="AmountConvertedUnitsGranted" xlink:title="AmountConvertedUnitsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConvertedUnitsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AmountConvertedUnitsGranted" xml:lang="en-US" id="verboseLabel_emx_AmountConvertedUnitsGranted_en-US">Amount converted, units granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountConvertedUnitsGranted" xlink:to="label_emx_AmountConvertedUnitsGranted" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConvertedUnitsGranted" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountConvertedUnitsGranted" xml:lang="en-US" id="documentation_emx_AmountConvertedUnitsGranted_en-US">Amount converted, units granted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountConvertedWarrantsGranted" xlink:label="AmountConvertedWarrantsGranted" xlink:title="AmountConvertedWarrantsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConvertedWarrantsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AmountConvertedWarrantsGranted" xml:lang="en-US" id="verboseLabel_emx_AmountConvertedWarrantsGranted_en-US">Amount converted, warrants granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountConvertedWarrantsGranted" xlink:to="label_emx_AmountConvertedWarrantsGranted" use="optional" order="12" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountConvertedWarrantsGranted" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountConvertedWarrantsGranted" xml:lang="en-US" id="documentation_emx_AmountConvertedWarrantsGranted_en-US">Amount converted, warrants granted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" xlink:label="FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" xlink:title="FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" xml:lang="en-US" id="verboseLabel_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable_en-US">Fair value of the equity conversion option of convertible notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" xlink:to="label_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" xml:lang="en-US" id="documentation_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable_en-US">Fair value of the equity conversion option of convertible notes receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" xlink:label="FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" xlink:title="FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" xml:lang="en-US" id="verboseLabel_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable_en-US">Fair value of the note receivable component of convertible notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" xlink:to="label_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" xml:lang="en-US" id="documentation_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable_en-US">Fair value of the note receivable component of convertible notes receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EffectiveInterestMethodEffectiveRate" xlink:label="EffectiveInterestMethodEffectiveRate" xlink:title="EffectiveInterestMethodEffectiveRate"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EffectiveInterestMethodEffectiveRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EffectiveInterestMethodEffectiveRate" xml:lang="en-US" id="verboseLabel_emx_EffectiveInterestMethodEffectiveRate_en-US">Effective interest method, effective rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectiveInterestMethodEffectiveRate" xlink:to="label_emx_EffectiveInterestMethodEffectiveRate" use="optional" order="15" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EffectiveInterestMethodEffectiveRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EffectiveInterestMethodEffectiveRate" xml:lang="en-US" id="documentation_emx_EffectiveInterestMethodEffectiveRate_en-US">Effective interest method, effective rate</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod" xlink:label="InterestRevenueCalculatedUsingEffectiveInterestMethod" xlink:title="InterestRevenueCalculatedUsingEffectiveInterestMethod"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod" xml:lang="en-US" id="verboseLabel_ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod_en-US">Interest revenue calculated using effective interest method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRevenueCalculatedUsingEffectiveInterestMethod" xlink:to="label_ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod" use="optional" order="16" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetForeignExchangeLoss" xlink:label="NetForeignExchangeLoss" xlink:title="NetForeignExchangeLoss"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NetForeignExchangeLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_NetForeignExchangeLoss" xml:lang="en-US" id="verboseLabel_ifrs-full_NetForeignExchangeLoss_en-US">Net foreign exchange loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetForeignExchangeLoss" xlink:to="label_ifrs-full_NetForeignExchangeLoss" use="optional" order="17" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BonusFromNotesReceivableIssued" xlink:label="BonusFromNotesReceivableIssued" xlink:title="BonusFromNotesReceivableIssued"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BonusFromNotesReceivableIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_BonusFromNotesReceivableIssued" xml:lang="en-US" id="verboseLabel_emx_BonusFromNotesReceivableIssued_en-US">Bonus from notes receivable issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BonusFromNotesReceivableIssued" xlink:to="label_emx_BonusFromNotesReceivableIssued" use="optional" order="18" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BonusFromNotesReceivableIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BonusFromNotesReceivableIssued" xml:lang="en-US" id="documentation_emx_BonusFromNotesReceivableIssued_en-US">Bonus from notes receivable issued</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentLoansAndReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_NoncurrentLoansAndReceivables" xml:lang="en-US" id="terseLabel_ifrs-full_NoncurrentLoansAndReceivables_en-US">Notes receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="SignificantInvestmentsInAssociatesAxis" xlink:title="SignificantInvestmentsInAssociatesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_SignificantInvestmentsInAssociatesAxis" xml:lang="en-US" id="label_ifrs-full_SignificantInvestmentsInAssociatesAxis_en-US">Associates [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantInvestmentsInAssociatesAxis" xlink:to="label_ifrs-full_SignificantInvestmentsInAssociatesAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssociatesMember" xlink:label="AssociatesMember" xlink:title="AssociatesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AssociatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AssociatesMember" xml:lang="en-US" id="label_ifrs-full_AssociatesMember_en-US">Associates [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatesMember" xlink:to="label_ifrs-full_AssociatesMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IGCopperLLCMember" xlink:label="IGCopperLLCMember" xlink:title="IGCopperLLCMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IGCopperLLCMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IGCopperLLCMember" xml:lang="en-US" id="verboseLabel_emx_IGCopperLLCMember_en-US">IG Copper, LLC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGCopperLLCMember" xlink:to="label_emx_IGCopperLLCMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IGCopperLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IGCopperLLCMember" xml:lang="en-US" id="documentation_emx_IGCopperLLCMember_en-US">IG Copper, LLC</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TurkishCoMember" xlink:label="TurkishCoMember" xlink:title="TurkishCoMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkishCoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_TurkishCoMember" xml:lang="en-US" id="label_emx_TurkishCoMember_en-US">Turkish Co [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TurkishCoMember" xlink:to="label_emx_TurkishCoMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkishCoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TurkishCoMember" xml:lang="en-US" id="documentation_emx_TurkishCoMember_en-US">Turkish Co</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ProportionOfOwnershipInterestInAssociate" xlink:title="ProportionOfOwnershipInterestInAssociate"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ProportionOfOwnershipInterestInAssociate" xml:lang="en-US" id="verboseLabel_ifrs-full_ProportionOfOwnershipInterestInAssociate_en-US">Proportion of ownership interest in associate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInAssociate" xlink:to="label_ifrs-full_ProportionOfOwnershipInterestInAssociate" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" xlink:label="IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" xlink:title="IncreaseDecreaseInProportionOfOwnershipInterestInAssociate"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate_en-US">Increase (decrease) in Proportion of ownership interest in associate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" xlink:to="label_emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate_en-US">Increase (decrease) in Proportion of ownership interest in associate</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="InvestmentAccountedForUsingEquityMethod" xlink:title="InvestmentAccountedForUsingEquityMethod"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_InvestmentAccountedForUsingEquityMethod" xml:lang="en-US" id="verboseLabel_ifrs-full_InvestmentAccountedForUsingEquityMethod_en-US">Investments accounted for using equity method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentAccountedForUsingEquityMethod" xlink:to="label_ifrs-full_InvestmentAccountedForUsingEquityMethod" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xml:lang="en-US" id="terseLabel_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_en-US">Investment in associated companies</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:title="ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xml:lang="en-US" id="negatedLabel_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_en-US">Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DilutionGainInAssociatedCompanies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_DilutionGainInAssociatedCompanies" xml:lang="en-US" id="terseLabel_emx_DilutionGainInAssociatedCompanies_en-US">Dilution gain in associated companies</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SpecificExplorationLicensesAxis" xlink:label="SpecificExplorationLicensesAxis" xlink:title="SpecificExplorationLicensesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SpecificExplorationLicensesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SpecificExplorationLicensesAxis" xml:lang="en-US" id="label_emx_SpecificExplorationLicensesAxis_en-US">Specific exploration licenses [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecificExplorationLicensesAxis" xlink:to="label_emx_SpecificExplorationLicensesAxis" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SpecificExplorationLicensesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SpecificExplorationLicensesAxis" xml:lang="en-US" id="documentation_emx_SpecificExplorationLicensesAxis_en-US">Specific exploration licenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExplorationLicensesDomain" xlink:label="ExplorationLicensesDomain" xlink:title="ExplorationLicensesDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationLicensesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ExplorationLicensesDomain" xml:lang="en-US" id="label_emx_ExplorationLicensesDomain_en-US">Exploration licenses [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationLicensesDomain" xlink:to="label_emx_ExplorationLicensesDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationLicensesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExplorationLicensesDomain" xml:lang="en-US" id="documentation_emx_ExplorationLicensesDomain_en-US">Exploration licenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SuperiorWestProjectMember" xlink:label="SuperiorWestProjectMember" xlink:title="SuperiorWestProjectMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SuperiorWestProjectMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SuperiorWestProjectMember" xml:lang="en-US" id="label_emx_SuperiorWestProjectMember_en-US">Superior West project [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SuperiorWestProjectMember" xlink:to="label_emx_SuperiorWestProjectMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SuperiorWestProjectMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SuperiorWestProjectMember" xml:lang="en-US" id="documentation_emx_SuperiorWestProjectMember_en-US">Superior West project</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_YeringtonWestPropertyMember" xlink:label="YeringtonWestPropertyMember" xlink:title="YeringtonWestPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_YeringtonWestPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_YeringtonWestPropertyMember" xml:lang="en-US" id="label_emx_YeringtonWestPropertyMember_en-US">Yerington West Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="YeringtonWestPropertyMember" xlink:to="label_emx_YeringtonWestPropertyMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_YeringtonWestPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_YeringtonWestPropertyMember" xml:lang="en-US" id="documentation_emx_YeringtonWestPropertyMember_en-US">Yerington West Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_KoonenberryArastraMember" xlink:label="KoonenberryArastraMember" xlink:title="KoonenberryArastraMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_KoonenberryArastraMember" xml:lang="en-US" id="verboseLabel_emx_KoonenberryArastraMember_en-US">Koonenberry [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KoonenberryArastraMember" xlink:to="label_emx_KoonenberryArastraMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_KoonenberryArastraMember" xml:lang="en-US" id="documentation_emx_KoonenberryArastraMember_en-US">Koonenberry</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SlattbergLicensesMember" xlink:label="SlattbergLicensesMember" xlink:title="SlattbergLicensesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SlattbergLicensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SlattbergLicensesMember" xml:lang="en-US" id="label_emx_SlattbergLicensesMember_en-US">Slattberg licenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SlattbergLicensesMember" xlink:to="label_emx_SlattbergLicensesMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SlattbergLicensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SlattbergLicensesMember" xml:lang="en-US" id="documentation_emx_SlattbergLicensesMember_en-US">Slattberg licenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AguilaDeCobrePropertyMember" xlink:label="AguilaDeCobrePropertyMember" xlink:title="AguilaDeCobrePropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AguilaDeCobrePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AguilaDeCobrePropertyMember" xml:lang="en-US" id="label_emx_AguilaDeCobrePropertyMember_en-US">Aguila de Cobre Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AguilaDeCobrePropertyMember" xlink:to="label_emx_AguilaDeCobrePropertyMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AguilaDeCobrePropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AguilaDeCobrePropertyMember" xml:lang="en-US" id="documentation_emx_AguilaDeCobrePropertyMember_en-US">Aguila de Cobre Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CathedralWellPropertyMember" xlink:label="CathedralWellPropertyMember" xlink:title="CathedralWellPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CathedralWellPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CathedralWellPropertyMember" xml:lang="en-US" id="label_emx_CathedralWellPropertyMember_en-US">Cathedral Well Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CathedralWellPropertyMember" xlink:to="label_emx_CathedralWellPropertyMember" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CathedralWellPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CathedralWellPropertyMember" xml:lang="en-US" id="documentation_emx_CathedralWellPropertyMember_en-US">Cathedral Well Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_HardshellSkarnPropertyMember" xlink:label="HardshellSkarnPropertyMember" xlink:title="HardshellSkarnPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_HardshellSkarnPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_HardshellSkarnPropertyMember" xml:lang="en-US" id="label_emx_HardshellSkarnPropertyMember_en-US">Hardshell Skarn Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HardshellSkarnPropertyMember" xlink:to="label_emx_HardshellSkarnPropertyMember" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_HardshellSkarnPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_HardshellSkarnPropertyMember" xml:lang="en-US" id="documentation_emx_HardshellSkarnPropertyMember_en-US">Hardshell Skarn Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GreenwoodPeakProjectMember" xlink:label="GreenwoodPeakProjectMember" xlink:title="GreenwoodPeakProjectMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GreenwoodPeakProjectMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GreenwoodPeakProjectMember" xml:lang="en-US" id="label_emx_GreenwoodPeakProjectMember_en-US">Greenwood Peak project [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GreenwoodPeakProjectMember" xlink:to="label_emx_GreenwoodPeakProjectMember" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GreenwoodPeakProjectMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GreenwoodPeakProjectMember" xml:lang="en-US" id="documentation_emx_GreenwoodPeakProjectMember_en-US">Greenwood Peak project</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CopperSpringsCopperKingAndRedTopPropertiesMember" xlink:label="CopperSpringsCopperKingAndRedTopPropertiesMember" xlink:title="CopperSpringsCopperKingAndRedTopPropertiesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperSpringsCopperKingAndRedTopPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CopperSpringsCopperKingAndRedTopPropertiesMember" xml:lang="en-US" id="label_emx_CopperSpringsCopperKingAndRedTopPropertiesMember_en-US">Copper Springs, Copper King, and Red Top Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CopperSpringsCopperKingAndRedTopPropertiesMember" xlink:to="label_emx_CopperSpringsCopperKingAndRedTopPropertiesMember" use="optional" order="10" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperSpringsCopperKingAndRedTopPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CopperSpringsCopperKingAndRedTopPropertiesMember" xml:lang="en-US" id="documentation_emx_CopperSpringsCopperKingAndRedTopPropertiesMember_en-US">Copper Springs, Copper King, and Red Top Properties</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CopperSpringsProjectMember" xlink:label="CopperSpringsProjectMember" xlink:title="CopperSpringsProjectMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperSpringsProjectMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CopperSpringsProjectMember" xml:lang="en-US" id="label_emx_CopperSpringsProjectMember_en-US">Copper Springs project [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CopperSpringsProjectMember" xlink:to="label_emx_CopperSpringsProjectMember" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperSpringsProjectMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CopperSpringsProjectMember" xml:lang="en-US" id="documentation_emx_CopperSpringsProjectMember_en-US">Copper Springs project</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CopperKingMember" xlink:label="CopperKingMember" xlink:title="CopperKingMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperKingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CopperKingMember" xml:lang="en-US" id="label_emx_CopperKingMember_en-US">Copper King [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CopperKingMember" xlink:to="label_emx_CopperKingMember" use="optional" order="12" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperKingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CopperKingMember" xml:lang="en-US" id="documentation_emx_CopperKingMember_en-US">Copper King</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RedTopProjectMember" xlink:label="RedTopProjectMember" xlink:title="RedTopProjectMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RedTopProjectMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RedTopProjectMember" xml:lang="en-US" id="label_emx_RedTopProjectMember_en-US">Red Top project [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedTopProjectMember" xlink:to="label_emx_RedTopProjectMember" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RedTopProjectMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RedTopProjectMember" xml:lang="en-US" id="documentation_emx_RedTopProjectMember_en-US">Red Top project</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FrazierCanyonAndBuckhornCreekProjectsMember" xlink:label="FrazierCanyonAndBuckhornCreekProjectsMember" xlink:title="FrazierCanyonAndBuckhornCreekProjectsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FrazierCanyonAndBuckhornCreekProjectsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FrazierCanyonAndBuckhornCreekProjectsMember" xml:lang="en-US" id="label_emx_FrazierCanyonAndBuckhornCreekProjectsMember_en-US">Frazier Canyon and Buckhorn Creek projects [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FrazierCanyonAndBuckhornCreekProjectsMember" xlink:to="label_emx_FrazierCanyonAndBuckhornCreekProjectsMember" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FrazierCanyonAndBuckhornCreekProjectsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FrazierCanyonAndBuckhornCreekProjectsMember" xml:lang="en-US" id="documentation_emx_FrazierCanyonAndBuckhornCreekProjectsMember_en-US">Frazier Canyon and Buckhorn Creek projects</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_MineralHillPropertyMember" xlink:label="MineralHillPropertyMember" xlink:title="MineralHillPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_MineralHillPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_MineralHillPropertyMember" xml:lang="en-US" id="label_emx_MineralHillPropertyMember_en-US">Mineral Hill Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MineralHillPropertyMember" xlink:to="label_emx_MineralHillPropertyMember" use="optional" order="15" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_MineralHillPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_MineralHillPropertyMember" xml:lang="en-US" id="documentation_emx_MineralHillPropertyMember_en-US">Mineral Hill Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OphirPropertyMember" xlink:label="OphirPropertyMember" xlink:title="OphirPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OphirPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OphirPropertyMember" xml:lang="en-US" id="label_emx_OphirPropertyMember_en-US">Ophir Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OphirPropertyMember" xlink:to="label_emx_OphirPropertyMember" use="optional" order="16" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OphirPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OphirPropertyMember" xml:lang="en-US" id="documentation_emx_OphirPropertyMember_en-US">Ophir Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SisortaJointVentureMember" xlink:label="SisortaJointVentureMember" xlink:title="SisortaJointVentureMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SisortaJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SisortaJointVentureMember" xml:lang="en-US" id="label_emx_SisortaJointVentureMember_en-US">Sisorta Joint Venture [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SisortaJointVentureMember" xlink:to="label_emx_SisortaJointVentureMember" use="optional" order="17" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SisortaJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SisortaJointVentureMember" xml:lang="en-US" id="documentation_emx_SisortaJointVentureMember_en-US">Sisorta Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BalyaPropertyMember" xlink:label="BalyaPropertyMember" xlink:title="BalyaPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BalyaPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BalyaPropertyMember" xml:lang="en-US" id="label_emx_BalyaPropertyMember_en-US">Balya Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BalyaPropertyMember" xlink:to="label_emx_BalyaPropertyMember" use="optional" order="18" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BalyaPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BalyaPropertyMember" xml:lang="en-US" id="documentation_emx_BalyaPropertyMember_en-US">Balya Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GolcukTransferAndRoyaltyAgreementMember" xlink:label="GolcukTransferAndRoyaltyAgreementMember" xlink:title="GolcukTransferAndRoyaltyAgreementMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementMember" xml:lang="en-US" id="label_emx_GolcukTransferAndRoyaltyAgreementMember_en-US">Golcuk Transfer and Royalty Agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GolcukTransferAndRoyaltyAgreementMember" xlink:to="label_emx_GolcukTransferAndRoyaltyAgreementMember" use="optional" order="19" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementMember" xml:lang="en-US" id="documentation_emx_GolcukTransferAndRoyaltyAgreementMember_en-US">Golcuk Transfer and Royalty Agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TumadAgreementTrabTwoThreeMember" xlink:label="TumadAgreementTrabTwoThreeMember" xlink:title="TumadAgreementTrabTwoThreeMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TumadAgreementTrabTwoThreeMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_TumadAgreementTrabTwoThreeMember" xml:lang="en-US" id="verboseLabel_emx_TumadAgreementTrabTwoThreeMember_en-US">Tumad Agreement - Trab-23 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TumadAgreementTrabTwoThreeMember" xlink:to="label_emx_TumadAgreementTrabTwoThreeMember" use="optional" order="20" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TumadAgreementTrabTwoThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TumadAgreementTrabTwoThreeMember" xml:lang="en-US" id="documentation_emx_TumadAgreementTrabTwoThreeMember_en-US">Tumad Agreement - Trab-23</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FerriteAgreementAlankoyMember" xlink:label="FerriteAgreementAlankoyMember" xlink:title="FerriteAgreementAlankoyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FerriteAgreementAlankoyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_FerriteAgreementAlankoyMember" xml:lang="en-US" id="verboseLabel_emx_FerriteAgreementAlankoyMember_en-US">Ferrite Agreement - Alankoy [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FerriteAgreementAlankoyMember" xlink:to="label_emx_FerriteAgreementAlankoyMember" use="optional" order="21" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FerriteAgreementAlankoyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FerriteAgreementAlankoyMember" xml:lang="en-US" id="documentation_emx_FerriteAgreementAlankoyMember_en-US">Ferrite Agreement - Alankoy</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BlackSeaCopperGoldAgreementAlankoyMember" xlink:label="BlackSeaCopperGoldAgreementAlankoyMember" xlink:title="BlackSeaCopperGoldAgreementAlankoyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BlackSeaCopperGoldAgreementAlankoyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_BlackSeaCopperGoldAgreementAlankoyMember" xml:lang="en-US" id="verboseLabel_emx_BlackSeaCopperGoldAgreementAlankoyMember_en-US">Black Sea Copper &amp; Gold Agreement - Alankoy [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BlackSeaCopperGoldAgreementAlankoyMember" xlink:to="label_emx_BlackSeaCopperGoldAgreementAlankoyMember" use="optional" order="22" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BlackSeaCopperGoldAgreementAlankoyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BlackSeaCopperGoldAgreementAlankoyMember" xml:lang="en-US" id="documentation_emx_BlackSeaCopperGoldAgreementAlankoyMember_en-US">Black Sea Copper &amp; Gold Agreement - Alankoy</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AktutanPropertyMember" xlink:label="AktutanPropertyMember" xlink:title="AktutanPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AktutanPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AktutanPropertyMember" xml:lang="en-US" id="label_emx_AktutanPropertyMember_en-US">Aktutan Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AktutanPropertyMember" xlink:to="label_emx_AktutanPropertyMember" use="optional" order="23" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AktutanPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AktutanPropertyMember" xml:lang="en-US" id="documentation_emx_AktutanPropertyMember_en-US">Aktutan Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NeavesvilleGoldsilverPropertyMember" xlink:label="NeavesvilleGoldsilverPropertyMember" xlink:title="NeavesvilleGoldsilverPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NeavesvilleGoldsilverPropertyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NeavesvilleGoldsilverPropertyMember" xml:lang="en-US" id="verboseLabel_emx_NeavesvilleGoldsilverPropertyMember_en-US">Neavesville gold-silver property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NeavesvilleGoldsilverPropertyMember" xlink:to="label_emx_NeavesvilleGoldsilverPropertyMember" use="optional" order="24" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NeavesvilleGoldsilverPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NeavesvilleGoldsilverPropertyMember" xml:lang="en-US" id="documentation_emx_NeavesvilleGoldsilverPropertyMember_en-US">Neavesville gold-silver property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrandBoisGoldcopperProjectMember" xlink:label="GrandBoisGoldcopperProjectMember" xlink:title="GrandBoisGoldcopperProjectMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrandBoisGoldcopperProjectMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrandBoisGoldcopperProjectMember" xml:lang="en-US" id="verboseLabel_emx_GrandBoisGoldcopperProjectMember_en-US">Grand Bois gold-copper project [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrandBoisGoldcopperProjectMember" xlink:to="label_emx_GrandBoisGoldcopperProjectMember" use="optional" order="25" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrandBoisGoldcopperProjectMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrandBoisGoldcopperProjectMember" xml:lang="en-US" id="documentation_emx_GrandBoisGoldcopperProjectMember_en-US">Grand Bois gold-copper project</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_JasperCanyonAndSilverBellProjectsMember" xlink:label="JasperCanyonAndSilverBellProjectsMember" xlink:title="JasperCanyonAndSilverBellProjectsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_JasperCanyonAndSilverBellProjectsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_JasperCanyonAndSilverBellProjectsMember" xml:lang="en-US" id="label_emx_JasperCanyonAndSilverBellProjectsMember_en-US">Jasper Canyon and Silver Bell projects [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JasperCanyonAndSilverBellProjectsMember" xlink:to="label_emx_JasperCanyonAndSilverBellProjectsMember" use="optional" order="26" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_JasperCanyonAndSilverBellProjectsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_JasperCanyonAndSilverBellProjectsMember" xml:lang="en-US" id="documentation_emx_JasperCanyonAndSilverBellProjectsMember_en-US">Jasper Canyon and Silver Bell projects</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_KoonenberryPerryArmstrongMember" xlink:label="KoonenberryPerryArmstrongMember" xlink:title="KoonenberryPerryArmstrongMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryPerryArmstrongMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_KoonenberryPerryArmstrongMember" xml:lang="en-US" id="verboseLabel_emx_KoonenberryPerryArmstrongMember_en-US">Koonenberry - Perry &amp; Armstrong [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KoonenberryPerryArmstrongMember" xlink:to="label_emx_KoonenberryPerryArmstrongMember" use="optional" order="27" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryPerryArmstrongMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_KoonenberryPerryArmstrongMember" xml:lang="en-US" id="documentation_emx_KoonenberryPerryArmstrongMember_en-US">Koonenberry - Perry &amp; Armstrong</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_KoonenberryArastraFourExplorationLicensesMember" xlink:label="KoonenberryArastraFourExplorationLicensesMember" xlink:title="KoonenberryArastraFourExplorationLicensesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraFourExplorationLicensesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_KoonenberryArastraFourExplorationLicensesMember" xml:lang="en-US" id="verboseLabel_emx_KoonenberryArastraFourExplorationLicensesMember_en-US">Koonenberry - Arastra - four exploration licenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KoonenberryArastraFourExplorationLicensesMember" xlink:to="label_emx_KoonenberryArastraFourExplorationLicensesMember" use="optional" order="28" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraFourExplorationLicensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_KoonenberryArastraFourExplorationLicensesMember" xml:lang="en-US" id="documentation_emx_KoonenberryArastraFourExplorationLicensesMember_en-US">Koonenberry - Arastra - four exploration licenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_KoonenberryArastraOneLicenseMember" xlink:label="KoonenberryArastraOneLicenseMember" xlink:title="KoonenberryArastraOneLicenseMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraOneLicenseMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_KoonenberryArastraOneLicenseMember" xml:lang="en-US" id="verboseLabel_emx_KoonenberryArastraOneLicenseMember_en-US">Koonenberry - Arastra - one license [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KoonenberryArastraOneLicenseMember" xlink:to="label_emx_KoonenberryArastraOneLicenseMember" use="optional" order="29" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraOneLicenseMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_KoonenberryArastraOneLicenseMember" xml:lang="en-US" id="documentation_emx_KoonenberryArastraOneLicenseMember_en-US">Koonenberry - Arastra - one license</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_KoonenberryArastraThreeOtherLicensesMember" xlink:label="KoonenberryArastraThreeOtherLicensesMember" xlink:title="KoonenberryArastraThreeOtherLicensesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraThreeOtherLicensesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_KoonenberryArastraThreeOtherLicensesMember" xml:lang="en-US" id="verboseLabel_emx_KoonenberryArastraThreeOtherLicensesMember_en-US">Koonenberry - Arastra - three other licenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KoonenberryArastraThreeOtherLicensesMember" xlink:to="label_emx_KoonenberryArastraThreeOtherLicensesMember" use="optional" order="30" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryArastraThreeOtherLicensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_KoonenberryArastraThreeOtherLicensesMember" xml:lang="en-US" id="documentation_emx_KoonenberryArastraThreeOtherLicensesMember_en-US">Koonenberry - Arastra - three other licenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_KoonenberryRockwellMember" xlink:label="KoonenberryRockwellMember" xlink:title="KoonenberryRockwellMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryRockwellMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_KoonenberryRockwellMember" xml:lang="en-US" id="verboseLabel_emx_KoonenberryRockwellMember_en-US">Koonenberry - Rockwell [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KoonenberryRockwellMember" xlink:to="label_emx_KoonenberryRockwellMember" use="optional" order="31" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryRockwellMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_KoonenberryRockwellMember" xml:lang="en-US" id="documentation_emx_KoonenberryRockwellMember_en-US">Koonenberry - Rockwell</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_KoonenberryBatesMember" xlink:label="KoonenberryBatesMember" xlink:title="KoonenberryBatesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryBatesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_KoonenberryBatesMember" xml:lang="en-US" id="verboseLabel_emx_KoonenberryBatesMember_en-US">Koonenberry - Bates [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KoonenberryBatesMember" xlink:to="label_emx_KoonenberryBatesMember" use="optional" order="32" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_KoonenberryBatesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_KoonenberryBatesMember" xml:lang="en-US" id="documentation_emx_KoonenberryBatesMember_en-US">Koonenberry - Bates</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_HaitiExplorationPermitsMember" xlink:label="HaitiExplorationPermitsMember" xlink:title="HaitiExplorationPermitsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_HaitiExplorationPermitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_HaitiExplorationPermitsMember" xml:lang="en-US" id="label_emx_HaitiExplorationPermitsMember_en-US">Haiti exploration permits [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HaitiExplorationPermitsMember" xlink:to="label_emx_HaitiExplorationPermitsMember" use="optional" order="33" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_HaitiExplorationPermitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_HaitiExplorationPermitsMember" xml:lang="en-US" id="documentation_emx_HaitiExplorationPermitsMember_en-US">Haiti exploration permits</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" xlink:label="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" xlink:title="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" xml:lang="en-US" id="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember_en-US">Buckhorn Creek, Frazier Creek, and Jasper Canyon Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" xlink:to="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" use="optional" order="34" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" xml:lang="en-US" id="documentation_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember_en-US">Buckhorn Creek, Frazier Creek, and Jasper Canyon Properties</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" xlink:label="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" xlink:title="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" xml:lang="en-US" id="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember_en-US">Buckhorn Creek, Frazier Creek, and Jasper Canyon Properties (per project) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" xlink:to="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" use="optional" order="35" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" xml:lang="en-US" id="documentation_emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember_en-US">Buckhorn Creek, Frazier Creek, and Jasper Canyon Properties (per project)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CopperBasinPropertyMember" xlink:label="CopperBasinPropertyMember" xlink:title="CopperBasinPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperBasinPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CopperBasinPropertyMember" xml:lang="en-US" id="label_emx_CopperBasinPropertyMember_en-US">Copper Basin Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CopperBasinPropertyMember" xlink:to="label_emx_CopperBasinPropertyMember" use="optional" order="36" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CopperBasinPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CopperBasinPropertyMember" xml:lang="en-US" id="documentation_emx_CopperBasinPropertyMember_en-US">Copper Basin Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SilverBellWestPropertyMember" xlink:label="SilverBellWestPropertyMember" xlink:title="SilverBellWestPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SilverBellWestPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SilverBellWestPropertyMember" xml:lang="en-US" id="label_emx_SilverBellWestPropertyMember_en-US">Silver Bell West Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SilverBellWestPropertyMember" xlink:to="label_emx_SilverBellWestPropertyMember" use="optional" order="37" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SilverBellWestPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SilverBellWestPropertyMember" xml:lang="en-US" id="documentation_emx_SilverBellWestPropertyMember_en-US">Silver Bell West Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_LomitasNegrasPropertyMember" xlink:label="LomitasNegrasPropertyMember" xlink:title="LomitasNegrasPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_LomitasNegrasPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_LomitasNegrasPropertyMember" xml:lang="en-US" id="label_emx_LomitasNegrasPropertyMember_en-US">Lomitas Negras Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LomitasNegrasPropertyMember" xlink:to="label_emx_LomitasNegrasPropertyMember" use="optional" order="38" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_LomitasNegrasPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_LomitasNegrasPropertyMember" xml:lang="en-US" id="documentation_emx_LomitasNegrasPropertyMember_en-US">Lomitas Negras Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExplorationAndEvaluationAssetsByGeographyAxis" xlink:label="ExplorationAndEvaluationAssetsByGeographyAxis" xlink:title="ExplorationAndEvaluationAssetsByGeographyAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationAndEvaluationAssetsByGeographyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ExplorationAndEvaluationAssetsByGeographyAxis" xml:lang="en-US" id="label_emx_ExplorationAndEvaluationAssetsByGeographyAxis_en-US">Exploration and evaluation assets by geography [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationAndEvaluationAssetsByGeographyAxis" xlink:to="label_emx_ExplorationAndEvaluationAssetsByGeographyAxis" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationAndEvaluationAssetsByGeographyAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExplorationAndEvaluationAssetsByGeographyAxis" xml:lang="en-US" id="documentation_emx_ExplorationAndEvaluationAssetsByGeographyAxis_en-US">Exploration and evaluation assets by geography</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExplorationAndEvaluationAssetsByGeographyDomain" xlink:label="ExplorationAndEvaluationAssetsByGeographyDomain" xlink:title="ExplorationAndEvaluationAssetsByGeographyDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationAndEvaluationAssetsByGeographyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ExplorationAndEvaluationAssetsByGeographyDomain" xml:lang="en-US" id="label_emx_ExplorationAndEvaluationAssetsByGeographyDomain_en-US">Exploration and evaluation assets by geography [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationAndEvaluationAssetsByGeographyDomain" xlink:to="label_emx_ExplorationAndEvaluationAssetsByGeographyDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationAndEvaluationAssetsByGeographyDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExplorationAndEvaluationAssetsByGeographyDomain" xml:lang="en-US" id="documentation_emx_ExplorationAndEvaluationAssetsByGeographyDomain_en-US">Exploration and evaluation assets by geography</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AustriaMember" xlink:label="AustriaMember" xlink:title="AustriaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AustriaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AustriaMember" xml:lang="en-US" id="label_emx_AustriaMember_en-US">Austria [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AustriaMember" xlink:to="label_emx_AustriaMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AustriaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AustriaMember" xml:lang="en-US" id="documentation_emx_AustriaMember_en-US">Austria</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EuropeMember" xlink:label="EuropeMember" xlink:title="EuropeMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EuropeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EuropeMember" xml:lang="en-US" id="label_emx_EuropeMember_en-US">Europe [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuropeMember" xlink:to="label_emx_EuropeMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EuropeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EuropeMember" xml:lang="en-US" id="documentation_emx_EuropeMember_en-US">Europe</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_DE" xlink:label="DE" xlink:title="DE"/>
    <link:label xlink:type="resource" xlink:label="label_country_DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_DE" xml:lang="en-US" id="label_country_DE_en-US">Germany [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DE" xlink:to="label_country_DE" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_HT" xlink:label="HT" xlink:title="HT"/>
    <link:label xlink:type="resource" xlink:label="label_country_HT" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_HT" xml:lang="en-US" id="label_country_HT_en-US">Haiti [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HT" xlink:to="label_country_HT" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_RU" xlink:label="RU" xlink:title="RU"/>
    <link:label xlink:type="resource" xlink:label="label_country_RU" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_RU" xml:lang="en-US" id="label_country_RU_en-US">Russia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RU" xlink:to="label_country_RU" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_SE" xlink:label="SE" xlink:title="SE"/>
    <link:label xlink:type="resource" xlink:label="label_country_SE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_SE" xml:lang="en-US" id="label_country_SE_en-US">Sweden [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SE" xlink:to="label_country_SE" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CategoriesOfRelatedPartiesAxis" xml:lang="en-US" id="label_ifrs-full_CategoriesOfRelatedPartiesAxis_en-US">Categories of related parties [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="label_ifrs-full_CategoriesOfRelatedPartiesAxis" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RelatedPartiesMember" xlink:label="RelatedPartiesMember" xlink:title="RelatedPartiesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_RelatedPartiesMember" xml:lang="en-US" id="label_ifrs-full_RelatedPartiesMember_en-US">Related parties [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartiesMember" xlink:to="label_ifrs-full_RelatedPartiesMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BorealMetalsCorpMember" xlink:label="BorealMetalsCorpMember" xlink:title="BorealMetalsCorpMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BorealMetalsCorpMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BorealMetalsCorpMember" xml:lang="en-US" id="label_emx_BorealMetalsCorpMember_en-US">Boreal Metals Corp. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorealMetalsCorpMember" xlink:to="label_emx_BorealMetalsCorpMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BorealMetalsCorpMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BorealMetalsCorpMember" xml:lang="en-US" id="documentation_emx_BorealMetalsCorpMember_en-US">Boreal Metals Corp.</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SiennaResourcesIncMember" xlink:label="SiennaResourcesIncMember" xlink:title="SiennaResourcesIncMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SiennaResourcesIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SiennaResourcesIncMember" xml:lang="en-US" id="label_emx_SiennaResourcesIncMember_en-US">Sienna Resources Inc. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SiennaResourcesIncMember" xlink:to="label_emx_SiennaResourcesIncMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SiennaResourcesIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SiennaResourcesIncMember" xml:lang="en-US" id="documentation_emx_SiennaResourcesIncMember_en-US">Sienna Resources Inc.</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AesMadencilikAsMember" xlink:label="AesMadencilikAsMember" xlink:title="AesMadencilikAsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AesMadencilikAsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AesMadencilikAsMember" xml:lang="en-US" id="label_emx_AesMadencilikAsMember_en-US">AES Madencilik A.S [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AesMadencilikAsMember" xlink:to="label_emx_AesMadencilikAsMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AesMadencilikAsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AesMadencilikAsMember" xml:lang="en-US" id="documentation_emx_AesMadencilikAsMember_en-US">AES Madencilik A.S</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ChesserResourcesLtdMember" xlink:label="ChesserResourcesLtdMember" xlink:title="ChesserResourcesLtdMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ChesserResourcesLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ChesserResourcesLtdMember" xml:lang="en-US" id="label_emx_ChesserResourcesLtdMember_en-US">Chesser Resources Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChesserResourcesLtdMember" xlink:to="label_emx_ChesserResourcesLtdMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ChesserResourcesLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ChesserResourcesLtdMember" xml:lang="en-US" id="documentation_emx_ChesserResourcesLtdMember_en-US">Chesser Resources Ltd</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EbxMadencilikAsMember" xlink:label="EbxMadencilikAsMember" xlink:title="EbxMadencilikAsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EbxMadencilikAsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EbxMadencilikAsMember" xml:lang="en-US" id="label_emx_EbxMadencilikAsMember_en-US">EBX Madencilik A.S. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EbxMadencilikAsMember" xlink:to="label_emx_EbxMadencilikAsMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EbxMadencilikAsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EbxMadencilikAsMember" xml:lang="en-US" id="documentation_emx_EbxMadencilikAsMember_en-US">EBX Madencilik A.S.</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" xlink:label="TimingOfTransferOfGoodsOrServicesAxis" xlink:title="TimingOfTransferOfGoodsOrServicesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" xml:lang="en-US" id="label_ifrs-full_TimingOfTransferOfGoodsOrServicesAxis_en-US">Timing of transfer of goods or services [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimingOfTransferOfGoodsOrServicesAxis" xlink:to="label_ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TimingOfTransferOfGoodsOrServicesMember" xlink:label="TimingOfTransferOfGoodsOrServicesMember" xlink:title="TimingOfTransferOfGoodsOrServicesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TimingOfTransferOfGoodsOrServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TimingOfTransferOfGoodsOrServicesMember" xml:lang="en-US" id="label_ifrs-full_TimingOfTransferOfGoodsOrServicesMember_en-US">Timing of transfer of goods or services [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimingOfTransferOfGoodsOrServicesMember" xlink:to="label_ifrs-full_TimingOfTransferOfGoodsOrServicesMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PursuantToTheAgreementMember" xlink:label="PursuantToTheAgreementMember" xlink:title="PursuantToTheAgreementMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PursuantToTheAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_PursuantToTheAgreementMember" xml:lang="en-US" id="label_emx_PursuantToTheAgreementMember_en-US">Pursuant to the agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PursuantToTheAgreementMember" xlink:to="label_emx_PursuantToTheAgreementMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PursuantToTheAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PursuantToTheAgreementMember" xml:lang="en-US" id="documentation_emx_PursuantToTheAgreementMember_en-US">Pursuant to the agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SubsequentToSigningMember" xlink:label="SubsequentToSigningMember" xlink:title="SubsequentToSigningMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SubsequentToSigningMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SubsequentToSigningMember" xml:lang="en-US" id="label_emx_SubsequentToSigningMember_en-US">Subsequent to signing [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentToSigningMember" xlink:to="label_emx_SubsequentToSigningMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SubsequentToSigningMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SubsequentToSigningMember" xml:lang="en-US" id="documentation_emx_SubsequentToSigningMember_en-US">Subsequent to signing</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UponExerciseOfTheOptionMember" xlink:label="UponExerciseOfTheOptionMember" xlink:title="UponExerciseOfTheOptionMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_UponExerciseOfTheOptionMember" xml:lang="en-US" id="label_emx_UponExerciseOfTheOptionMember_en-US">Upon exercise of the option [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UponExerciseOfTheOptionMember" xlink:to="label_emx_UponExerciseOfTheOptionMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UponExerciseOfTheOptionMember" xml:lang="en-US" id="documentation_emx_UponExerciseOfTheOptionMember_en-US">Upon exercise of the option</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AfterExerciseOfTheOptionMember" xlink:label="AfterExerciseOfTheOptionMember" xlink:title="AfterExerciseOfTheOptionMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AfterExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AfterExerciseOfTheOptionMember" xml:lang="en-US" id="label_emx_AfterExerciseOfTheOptionMember_en-US">After exercise of the option [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AfterExerciseOfTheOptionMember" xlink:to="label_emx_AfterExerciseOfTheOptionMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AfterExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AfterExerciseOfTheOptionMember" xml:lang="en-US" id="documentation_emx_AfterExerciseOfTheOptionMember_en-US">After exercise of the option</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UponExecutionOfTheAgreementMember" xlink:label="UponExecutionOfTheAgreementMember" xlink:title="UponExecutionOfTheAgreementMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponExecutionOfTheAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_UponExecutionOfTheAgreementMember" xml:lang="en-US" id="label_emx_UponExecutionOfTheAgreementMember_en-US">Upon execution of the agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UponExecutionOfTheAgreementMember" xlink:to="label_emx_UponExecutionOfTheAgreementMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponExecutionOfTheAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UponExecutionOfTheAgreementMember" xml:lang="en-US" id="documentation_emx_UponExecutionOfTheAgreementMember_en-US">Upon execution of the agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OverTheNextThreeYearsMember" xlink:label="OverTheNextThreeYearsMember" xlink:title="OverTheNextThreeYearsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OverTheNextThreeYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OverTheNextThreeYearsMember" xml:lang="en-US" id="label_emx_OverTheNextThreeYearsMember_en-US">Over the next three years [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverTheNextThreeYearsMember" xlink:to="label_emx_OverTheNextThreeYearsMember" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OverTheNextThreeYearsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OverTheNextThreeYearsMember" xml:lang="en-US" id="documentation_emx_OverTheNextThreeYearsMember_en-US">Over the next three years</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:label="FirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:title="FirstAnniversaryOfTheExerciseOfTheOptionMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FirstAnniversaryOfTheExerciseOfTheOptionMember" xml:lang="en-US" id="label_emx_FirstAnniversaryOfTheExerciseOfTheOptionMember_en-US">First anniversary of the exercise of the option [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:to="label_emx_FirstAnniversaryOfTheExerciseOfTheOptionMember" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FirstAnniversaryOfTheExerciseOfTheOptionMember" xml:lang="en-US" id="documentation_emx_FirstAnniversaryOfTheExerciseOfTheOptionMember_en-US">First anniversary of the exercise of the option</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AfterCommencementOfCommercialProductionMember" xlink:label="AfterCommencementOfCommercialProductionMember" xlink:title="AfterCommencementOfCommercialProductionMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AfterCommencementOfCommercialProductionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AfterCommencementOfCommercialProductionMember" xml:lang="en-US" id="label_emx_AfterCommencementOfCommercialProductionMember_en-US">After commencement of commercial production [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AfterCommencementOfCommercialProductionMember" xlink:to="label_emx_AfterCommencementOfCommercialProductionMember" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AfterCommencementOfCommercialProductionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AfterCommencementOfCommercialProductionMember" xml:lang="en-US" id="documentation_emx_AfterCommencementOfCommercialProductionMember_en-US">After commencement of commercial production</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BetweenTheFifthAndSeventhAnniversariesMember" xlink:label="BetweenTheFifthAndSeventhAnniversariesMember" xlink:title="BetweenTheFifthAndSeventhAnniversariesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BetweenTheFifthAndSeventhAnniversariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BetweenTheFifthAndSeventhAnniversariesMember" xml:lang="en-US" id="label_emx_BetweenTheFifthAndSeventhAnniversariesMember_en-US">Between the fifth and seventh anniversaries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BetweenTheFifthAndSeventhAnniversariesMember" xlink:to="label_emx_BetweenTheFifthAndSeventhAnniversariesMember" use="optional" order="10" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BetweenTheFifthAndSeventhAnniversariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BetweenTheFifthAndSeventhAnniversariesMember" xml:lang="en-US" id="documentation_emx_BetweenTheFifthAndSeventhAnniversariesMember_en-US">Between the fifth and seventh anniversaries</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BetweenTheEighthAndTenthAnniversariesMember" xlink:label="BetweenTheEighthAndTenthAnniversariesMember" xlink:title="BetweenTheEighthAndTenthAnniversariesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BetweenTheEighthAndTenthAnniversariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BetweenTheEighthAndTenthAnniversariesMember" xml:lang="en-US" id="label_emx_BetweenTheEighthAndTenthAnniversariesMember_en-US">Between the eighth and tenth anniversaries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BetweenTheEighthAndTenthAnniversariesMember" xlink:to="label_emx_BetweenTheEighthAndTenthAnniversariesMember" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BetweenTheEighthAndTenthAnniversariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BetweenTheEighthAndTenthAnniversariesMember" xml:lang="en-US" id="documentation_emx_BetweenTheEighthAndTenthAnniversariesMember_en-US">Between the eighth and tenth anniversaries</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" xlink:label="EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" xlink:title="EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" xml:lang="en-US" id="verboseLabel_emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember_en-US">Every six months commencing February 1, 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" xlink:to="label_emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" use="optional" order="12" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" xml:lang="en-US" id="documentation_emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember_en-US">Every six months commencing February 1, 2017</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" xlink:label="WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" xlink:title="WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" xml:lang="en-US" id="verboseLabel_emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember_en-US">Within 30 days after the commencement of commercial production [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" xlink:to="label_emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" xml:lang="en-US" id="documentation_emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember_en-US">Within 30 days after the commencement of commercial production</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:label="UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:title="UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" xml:lang="en-US" id="verboseLabel_emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember_en-US">Upon production of 100,000 ounces of gold [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:to="label_emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" xml:lang="en-US" id="documentation_emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember_en-US">Upon production of 100,000 ounces of gold</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:label="UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:title="UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" xml:lang="en-US" id="verboseLabel_emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember_en-US">Upon production of an aggregate of 500,000 ounces of gold [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:to="label_emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" use="optional" order="15" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" xml:lang="en-US" id="documentation_emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember_en-US">Upon production of an aggregate of 500,000 ounces of gold</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SlidingscaleRoyaltyMember" xlink:label="SlidingscaleRoyaltyMember" xlink:title="SlidingscaleRoyaltyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SlidingscaleRoyaltyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_SlidingscaleRoyaltyMember" xml:lang="en-US" id="verboseLabel_emx_SlidingscaleRoyaltyMember_en-US">Sliding-scale royalty [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SlidingscaleRoyaltyMember" xlink:to="label_emx_SlidingscaleRoyaltyMember" use="optional" order="16" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SlidingscaleRoyaltyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SlidingscaleRoyaltyMember" xml:lang="en-US" id="documentation_emx_SlidingscaleRoyaltyMember_en-US">Sliding-scale royalty</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:label="CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:title="CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" xml:lang="en-US" id="label_emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember_en-US">Commencing on the first anniversary of the exercise of the option [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:to="label_emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" use="optional" order="17" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" xml:lang="en-US" id="documentation_emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember_en-US">Commencing on the first anniversary of the exercise of the option</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" xlink:label="UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" xlink:title="UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" xml:lang="en-US" id="label_emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember_en-US">Upon completion of an Order of Magnitude Study (OMS) or Preliminary Economic Assessment (PEA) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" xlink:to="label_emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" use="optional" order="18" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" xml:lang="en-US" id="documentation_emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember_en-US">Upon completion of an Order of Magnitude Study (OMS) or Preliminary Economic Assessment (PEA)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OptionalOnetimePaymentMember" xlink:label="OptionalOnetimePaymentMember" xlink:title="OptionalOnetimePaymentMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionalOnetimePaymentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OptionalOnetimePaymentMember" xml:lang="en-US" id="verboseLabel_emx_OptionalOnetimePaymentMember_en-US">Optional one-time payment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionalOnetimePaymentMember" xlink:to="label_emx_OptionalOnetimePaymentMember" use="optional" order="19" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionalOnetimePaymentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OptionalOnetimePaymentMember" xml:lang="en-US" id="documentation_emx_OptionalOnetimePaymentMember_en-US">Optional one-time payment</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UponCompletionOfAPrefeasibilityStudyMember" xlink:label="UponCompletionOfAPrefeasibilityStudyMember" xlink:title="UponCompletionOfAPrefeasibilityStudyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponCompletionOfAPrefeasibilityStudyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_UponCompletionOfAPrefeasibilityStudyMember" xml:lang="en-US" id="label_emx_UponCompletionOfAPrefeasibilityStudyMember_en-US">Upon completion of a Prefeasibility Study [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UponCompletionOfAPrefeasibilityStudyMember" xlink:to="label_emx_UponCompletionOfAPrefeasibilityStudyMember" use="optional" order="20" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponCompletionOfAPrefeasibilityStudyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UponCompletionOfAPrefeasibilityStudyMember" xml:lang="en-US" id="documentation_emx_UponCompletionOfAPrefeasibilityStudyMember_en-US">Upon completion of a Prefeasibility Study</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UponCompletionOfAFeasibilityStudyMember" xlink:label="UponCompletionOfAFeasibilityStudyMember" xlink:title="UponCompletionOfAFeasibilityStudyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponCompletionOfAFeasibilityStudyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_UponCompletionOfAFeasibilityStudyMember" xml:lang="en-US" id="label_emx_UponCompletionOfAFeasibilityStudyMember_en-US">Upon completion of a Feasibility Study [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UponCompletionOfAFeasibilityStudyMember" xlink:to="label_emx_UponCompletionOfAFeasibilityStudyMember" use="optional" order="21" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UponCompletionOfAFeasibilityStudyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UponCompletionOfAFeasibilityStudyMember" xml:lang="en-US" id="documentation_emx_UponCompletionOfAFeasibilityStudyMember_en-US">Upon completion of a Feasibility Study</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromAnnualOptionPayment" xlink:label="ProceedsFromAnnualOptionPayment" xlink:title="ProceedsFromAnnualOptionPayment"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnnualOptionPayment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromAnnualOptionPayment" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromAnnualOptionPayment_en-US">Proceeds from annual option payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromAnnualOptionPayment" xlink:to="label_emx_ProceedsFromAnnualOptionPayment" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnnualOptionPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromAnnualOptionPayment" xml:lang="en-US" id="documentation_emx_ProceedsFromAnnualOptionPayment_en-US">Proceeds from annual option payment</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CapitalizedCostOfPropertiesTransferred" xlink:label="CapitalizedCostOfPropertiesTransferred" xlink:title="CapitalizedCostOfPropertiesTransferred"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CapitalizedCostOfPropertiesTransferred" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_CapitalizedCostOfPropertiesTransferred" xml:lang="en-US" id="verboseLabel_emx_CapitalizedCostOfPropertiesTransferred_en-US">Capitalized cost of properties transferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalizedCostOfPropertiesTransferred" xlink:to="label_emx_CapitalizedCostOfPropertiesTransferred" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CapitalizedCostOfPropertiesTransferred" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CapitalizedCostOfPropertiesTransferred" xml:lang="en-US" id="documentation_emx_CapitalizedCostOfPropertiesTransferred_en-US">Capitalized cost of properties transferred</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_WriteOffOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_WriteOffOfExplorationAndEvaluationAssets" xml:lang="en-US" id="terseLabel_emx_WriteOffOfExplorationAndEvaluationAssets_en-US">Write-off of exploration and evaluation assets</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NetSmelterReturnsRoyaltyTerminated" xlink:label="NetSmelterReturnsRoyaltyTerminated" xlink:title="NetSmelterReturnsRoyaltyTerminated"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnsRoyaltyTerminated" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NetSmelterReturnsRoyaltyTerminated" xml:lang="en-US" id="verboseLabel_emx_NetSmelterReturnsRoyaltyTerminated_en-US">Net smelter returns royalty terminated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetSmelterReturnsRoyaltyTerminated" xlink:to="label_emx_NetSmelterReturnsRoyaltyTerminated" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnsRoyaltyTerminated" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NetSmelterReturnsRoyaltyTerminated" xml:lang="en-US" id="documentation_emx_NetSmelterReturnsRoyaltyTerminated_en-US">Net smelter returns royalty terminated</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NumberOfEquityInterestsInSubsidiaryAcquired" xlink:label="NumberOfEquityInterestsInSubsidiaryAcquired" xlink:title="NumberOfEquityInterestsInSubsidiaryAcquired"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfEquityInterestsInSubsidiaryAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NumberOfEquityInterestsInSubsidiaryAcquired" xml:lang="en-US" id="verboseLabel_emx_NumberOfEquityInterestsInSubsidiaryAcquired_en-US">Number of equity interests in subsidiary acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEquityInterestsInSubsidiaryAcquired" xlink:to="label_emx_NumberOfEquityInterestsInSubsidiaryAcquired" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfEquityInterestsInSubsidiaryAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NumberOfEquityInterestsInSubsidiaryAcquired" xml:lang="en-US" id="documentation_emx_NumberOfEquityInterestsInSubsidiaryAcquired_en-US">Number of equity interests in subsidiary acquired</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="PercentageOfVotingEquityInterestsAcquired" xlink:title="PercentageOfVotingEquityInterestsAcquired"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xml:lang="en-US" id="terseLabel_ifrs-full_PercentageOfVotingEquityInterestsAcquired_en-US">Percentage of equity interests acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfVotingEquityInterestsAcquired" xlink:to="label_ifrs-full_PercentageOfVotingEquityInterestsAcquired" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfEquityOwnershipContinuingObligation" xlink:label="DescriptionOfEquityOwnershipContinuingObligation" xlink:title="DescriptionOfEquityOwnershipContinuingObligation"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfEquityOwnershipContinuingObligation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfEquityOwnershipContinuingObligation" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfEquityOwnershipContinuingObligation_en-US">Description of equity ownership continuing obligation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfEquityOwnershipContinuingObligation" xlink:to="label_emx_DescriptionOfEquityOwnershipContinuingObligation" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfEquityOwnershipContinuingObligation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfEquityOwnershipContinuingObligation" xml:lang="en-US" id="documentation_emx_DescriptionOfEquityOwnershipContinuingObligation_en-US">Description of equity ownership continuing obligation</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromReimbursementOfAmountsPaid" xlink:label="ProceedsFromReimbursementOfAmountsPaid" xlink:title="ProceedsFromReimbursementOfAmountsPaid"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromReimbursementOfAmountsPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromReimbursementOfAmountsPaid" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromReimbursementOfAmountsPaid_en-US">Proceeds from reimbursement of amounts paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromReimbursementOfAmountsPaid" xlink:to="label_emx_ProceedsFromReimbursementOfAmountsPaid" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromReimbursementOfAmountsPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromReimbursementOfAmountsPaid" xml:lang="en-US" id="documentation_emx_ProceedsFromReimbursementOfAmountsPaid_en-US">Proceeds from reimbursement of amounts paid</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfTermsOfNetSmelterReturnRoyalty" xlink:label="DescriptionOfTermsOfNetSmelterReturnRoyalty" xlink:title="DescriptionOfTermsOfNetSmelterReturnRoyalty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty_en-US">Description of terms of net smelter return royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfTermsOfNetSmelterReturnRoyalty" xlink:to="label_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty" xml:lang="en-US" id="documentation_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty_en-US">Description of terms of net smelter return royalty</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfAnnualAdvanceRoyaltyPayments" xlink:label="DescriptionOfAnnualAdvanceRoyaltyPayments" xlink:title="DescriptionOfAnnualAdvanceRoyaltyPayments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfAnnualAdvanceRoyaltyPayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfAnnualAdvanceRoyaltyPayments" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfAnnualAdvanceRoyaltyPayments_en-US">Description of annual advance royalty payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAnnualAdvanceRoyaltyPayments" xlink:to="label_emx_DescriptionOfAnnualAdvanceRoyaltyPayments" use="optional" order="10" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfAnnualAdvanceRoyaltyPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfAnnualAdvanceRoyaltyPayments" xml:lang="en-US" id="documentation_emx_DescriptionOfAnnualAdvanceRoyaltyPayments_en-US">Description of annual advance royalty payments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EquityInterestsOfAcquirerValuePerShare" xlink:label="EquityInterestsOfAcquirerValuePerShare" xlink:title="EquityInterestsOfAcquirerValuePerShare"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EquityInterestsOfAcquirerValuePerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EquityInterestsOfAcquirerValuePerShare" xml:lang="en-US" id="verboseLabel_emx_EquityInterestsOfAcquirerValuePerShare_en-US">Equity interests of acquirer, value per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityInterestsOfAcquirerValuePerShare" xlink:to="label_emx_EquityInterestsOfAcquirerValuePerShare" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EquityInterestsOfAcquirerValuePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EquityInterestsOfAcquirerValuePerShare" xml:lang="en-US" id="documentation_emx_EquityInterestsOfAcquirerValuePerShare_en-US">Equity interests of acquirer, value per share</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityInterestsOfAcquirer" xlink:label="EquityInterestsOfAcquirer" xlink:title="EquityInterestsOfAcquirer"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_EquityInterestsOfAcquirer" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_EquityInterestsOfAcquirer" xml:lang="en-US" id="verboseLabel_ifrs-full_EquityInterestsOfAcquirer_en-US">Equity interests of acquirer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityInterestsOfAcquirer" xlink:to="label_ifrs-full_EquityInterestsOfAcquirer" use="optional" order="12" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PaymentOfFindersFee" xlink:label="PaymentOfFindersFee" xlink:title="PaymentOfFindersFee"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PaymentOfFindersFee" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_PaymentOfFindersFee" xml:lang="en-US" id="verboseLabel_emx_PaymentOfFindersFee_en-US">Payment of finders fee</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfFindersFee" xlink:to="label_emx_PaymentOfFindersFee" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PaymentOfFindersFee" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PaymentOfFindersFee" xml:lang="en-US" id="documentation_emx_PaymentOfFindersFee_en-US">Payment of finders fee</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NumberOfEquityInterestsOfSubsidiaryHeld" xlink:label="NumberOfEquityInterestsOfSubsidiaryHeld" xlink:title="NumberOfEquityInterestsOfSubsidiaryHeld"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfEquityInterestsOfSubsidiaryHeld" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NumberOfEquityInterestsOfSubsidiaryHeld" xml:lang="en-US" id="verboseLabel_emx_NumberOfEquityInterestsOfSubsidiaryHeld_en-US">Number of equity interests of subsidiary held</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEquityInterestsOfSubsidiaryHeld" xlink:to="label_emx_NumberOfEquityInterestsOfSubsidiaryHeld" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfEquityInterestsOfSubsidiaryHeld" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NumberOfEquityInterestsOfSubsidiaryHeld" xml:lang="en-US" id="documentation_emx_NumberOfEquityInterestsOfSubsidiaryHeld_en-US">Number of equity interests of subsidiary held</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ProportionOfOwnershipInterestInSubsidiary" xlink:title="ProportionOfOwnershipInterestInSubsidiary"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xml:lang="en-US" id="verboseLabel_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_en-US">Proportion of equity interests of subsidiary held</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInSubsidiary" xlink:to="label_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" use="optional" order="15" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GainOnDisposalOfSubsidiary" xlink:label="GainOnDisposalOfSubsidiary" xlink:title="GainOnDisposalOfSubsidiary"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainOnDisposalOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GainOnDisposalOfSubsidiary" xml:lang="en-US" id="verboseLabel_emx_GainOnDisposalOfSubsidiary_en-US">Gain on disposal of subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainOnDisposalOfSubsidiary" xlink:to="label_emx_GainOnDisposalOfSubsidiary" use="optional" order="16" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainOnDisposalOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GainOnDisposalOfSubsidiary" xml:lang="en-US" id="documentation_emx_GainOnDisposalOfSubsidiary_en-US">Gain on disposal of subsidiary</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OptionAgreementInterest" xlink:label="OptionAgreementInterest" xlink:title="OptionAgreementInterest"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OptionAgreementInterest" xml:lang="en-US" id="verboseLabel_emx_OptionAgreementInterest_en-US">Option agreement, interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionAgreementInterest" xlink:to="label_emx_OptionAgreementInterest" use="optional" order="17" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OptionAgreementInterest" xml:lang="en-US" id="documentation_emx_OptionAgreementInterest_en-US">Option agreement, interest</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OptionAgreementSubsequentInterest" xlink:label="OptionAgreementSubsequentInterest" xlink:title="OptionAgreementSubsequentInterest"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementSubsequentInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OptionAgreementSubsequentInterest" xml:lang="en-US" id="verboseLabel_emx_OptionAgreementSubsequentInterest_en-US">Option agreement, subsequent interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionAgreementSubsequentInterest" xlink:to="label_emx_OptionAgreementSubsequentInterest" use="optional" order="18" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementSubsequentInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OptionAgreementSubsequentInterest" xml:lang="en-US" id="documentation_emx_OptionAgreementSubsequentInterest_en-US">Option agreement, subsequent interest</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OptionAgreementSharesReceived" xlink:label="OptionAgreementSharesReceived" xlink:title="OptionAgreementSharesReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementSharesReceived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OptionAgreementSharesReceived" xml:lang="en-US" id="verboseLabel_emx_OptionAgreementSharesReceived_en-US">Option agreement, shares received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionAgreementSharesReceived" xlink:to="label_emx_OptionAgreementSharesReceived" use="optional" order="19" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementSharesReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OptionAgreementSharesReceived" xml:lang="en-US" id="documentation_emx_OptionAgreementSharesReceived_en-US">Option agreement, shares received</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OptionAgreementValueOfSharesReceived" xlink:label="OptionAgreementValueOfSharesReceived" xlink:title="OptionAgreementValueOfSharesReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementValueOfSharesReceived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OptionAgreementValueOfSharesReceived" xml:lang="en-US" id="verboseLabel_emx_OptionAgreementValueOfSharesReceived_en-US">Option agreement, value of shares received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionAgreementValueOfSharesReceived" xlink:to="label_emx_OptionAgreementValueOfSharesReceived" use="optional" order="20" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementValueOfSharesReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OptionAgreementValueOfSharesReceived" xml:lang="en-US" id="documentation_emx_OptionAgreementValueOfSharesReceived_en-US">Option agreement, value of shares received</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OptionAgreementExplorationExpendituresRequired" xlink:label="OptionAgreementExplorationExpendituresRequired" xlink:title="OptionAgreementExplorationExpendituresRequired"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementExplorationExpendituresRequired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OptionAgreementExplorationExpendituresRequired" xml:lang="en-US" id="verboseLabel_emx_OptionAgreementExplorationExpendituresRequired_en-US">Option agreement, exploration expenditures required</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionAgreementExplorationExpendituresRequired" xlink:to="label_emx_OptionAgreementExplorationExpendituresRequired" use="optional" order="21" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementExplorationExpendituresRequired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OptionAgreementExplorationExpendituresRequired" xml:lang="en-US" id="documentation_emx_OptionAgreementExplorationExpendituresRequired_en-US">Option agreement, exploration expenditures required</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NetSmelterReturnRoyalty" xlink:label="NetSmelterReturnRoyalty" xlink:title="NetSmelterReturnRoyalty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NetSmelterReturnRoyalty" xml:lang="en-US" id="verboseLabel_emx_NetSmelterReturnRoyalty_en-US">Net smelter return royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetSmelterReturnRoyalty" xlink:to="label_emx_NetSmelterReturnRoyalty" use="optional" order="22" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NetSmelterReturnRoyalty" xml:lang="en-US" id="documentation_emx_NetSmelterReturnRoyalty_en-US">Net smelter return royalty</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfTermsOfOptionAgreement" xlink:label="DescriptionOfTermsOfOptionAgreement" xlink:title="DescriptionOfTermsOfOptionAgreement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfTermsOfOptionAgreement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfTermsOfOptionAgreement" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfTermsOfOptionAgreement_en-US">Description of terms of option agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfTermsOfOptionAgreement" xlink:to="label_emx_DescriptionOfTermsOfOptionAgreement" use="optional" order="23" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfTermsOfOptionAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfTermsOfOptionAgreement" xml:lang="en-US" id="documentation_emx_DescriptionOfTermsOfOptionAgreement_en-US">Description of terms of option agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromOptionAgreement" xlink:label="ProceedsFromOptionAgreement" xlink:title="ProceedsFromOptionAgreement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromOptionAgreement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromOptionAgreement" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromOptionAgreement_en-US">Proceeds from option agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromOptionAgreement" xlink:to="label_emx_ProceedsFromOptionAgreement" use="optional" order="24" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromOptionAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromOptionAgreement" xml:lang="en-US" id="documentation_emx_ProceedsFromOptionAgreement_en-US">Proceeds from option agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromTerminationOfOptionAgreement" xlink:label="ProceedsFromTerminationOfOptionAgreement" xlink:title="ProceedsFromTerminationOfOptionAgreement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromTerminationOfOptionAgreement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromTerminationOfOptionAgreement" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromTerminationOfOptionAgreement_en-US">Proceeds from termination of option agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromTerminationOfOptionAgreement" xlink:to="label_emx_ProceedsFromTerminationOfOptionAgreement" use="optional" order="25" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromTerminationOfOptionAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromTerminationOfOptionAgreement" xml:lang="en-US" id="documentation_emx_ProceedsFromTerminationOfOptionAgreement_en-US">Proceeds from termination of option agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" xlink:label="ValueOfQuitClaimDeedInLieuOfOptionPayment" xlink:title="ValueOfQuitClaimDeedInLieuOfOptionPayment"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" xml:lang="en-US" id="verboseLabel_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment_en-US">Value of quit claim deed in lieu of option payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueOfQuitClaimDeedInLieuOfOptionPayment" xlink:to="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" use="optional" order="26" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" xml:lang="en-US" id="documentation_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment_en-US">Value of quit claim deed in lieu of option payment</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExplorationLicenseOwnershipAcquired" xlink:label="ExplorationLicenseOwnershipAcquired" xlink:title="ExplorationLicenseOwnershipAcquired"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationLicenseOwnershipAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ExplorationLicenseOwnershipAcquired" xml:lang="en-US" id="verboseLabel_emx_ExplorationLicenseOwnershipAcquired_en-US">Exploration license, ownership acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationLicenseOwnershipAcquired" xlink:to="label_emx_ExplorationLicenseOwnershipAcquired" use="optional" order="27" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationLicenseOwnershipAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExplorationLicenseOwnershipAcquired" xml:lang="en-US" id="documentation_emx_ExplorationLicenseOwnershipAcquired_en-US">Exploration license, ownership acquired</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExplorationLicenseOwnershipPercentage" xlink:label="ExplorationLicenseOwnershipPercentage" xlink:title="ExplorationLicenseOwnershipPercentage"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationLicenseOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ExplorationLicenseOwnershipPercentage" xml:lang="en-US" id="verboseLabel_emx_ExplorationLicenseOwnershipPercentage_en-US">Exploration license, ownership percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationLicenseOwnershipPercentage" xlink:to="label_emx_ExplorationLicenseOwnershipPercentage" use="optional" order="28" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationLicenseOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExplorationLicenseOwnershipPercentage" xml:lang="en-US" id="documentation_emx_ExplorationLicenseOwnershipPercentage_en-US">Exploration license, ownership percentage</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromAnnualAdvanceMinimumRoyalty" xlink:label="ProceedsFromAnnualAdvanceMinimumRoyalty" xlink:title="ProceedsFromAnnualAdvanceMinimumRoyalty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromAnnualAdvanceMinimumRoyalty_en-US">Proceeds from annual advance minimum royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromAnnualAdvanceMinimumRoyalty" xlink:to="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty" use="optional" order="29" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty" xml:lang="en-US" id="documentation_emx_ProceedsFromAnnualAdvanceMinimumRoyalty_en-US">Proceeds from annual advance minimum royalty</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountAppliedAgainstCapitalizedCosts" xlink:label="AmountAppliedAgainstCapitalizedCosts" xlink:title="AmountAppliedAgainstCapitalizedCosts"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountAppliedAgainstCapitalizedCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AmountAppliedAgainstCapitalizedCosts" xml:lang="en-US" id="verboseLabel_emx_AmountAppliedAgainstCapitalizedCosts_en-US">Amount applied against capitalized costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountAppliedAgainstCapitalizedCosts" xlink:to="label_emx_AmountAppliedAgainstCapitalizedCosts" use="optional" order="30" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountAppliedAgainstCapitalizedCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountAppliedAgainstCapitalizedCosts" xml:lang="en-US" id="documentation_emx_AmountAppliedAgainstCapitalizedCosts_en-US">Amount applied against capitalized costs</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromMilestonePayments" xlink:label="ProceedsFromMilestonePayments" xlink:title="ProceedsFromMilestonePayments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromMilestonePayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromMilestonePayments" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromMilestonePayments_en-US">Proceeds from milestone payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromMilestonePayments" xlink:to="label_emx_ProceedsFromMilestonePayments" use="optional" order="31" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromMilestonePayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromMilestonePayments" xml:lang="en-US" id="documentation_emx_ProceedsFromMilestonePayments_en-US">Proceeds from milestone payments</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets" xlink:label="ProceedsFromDisposalOfExplorationAndEvaluationAssets" xlink:title="ProceedsFromDisposalOfExplorationAndEvaluationAssets"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets" xml:lang="en-US" id="verboseLabel_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets_en-US">Proceeds from disposal of exploration and evaluation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromDisposalOfExplorationAndEvaluationAssets" xlink:to="label_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets" use="optional" order="32" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdvancedProductionPayments" xlink:label="AdvancedProductionPayments" xlink:title="AdvancedProductionPayments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdvancedProductionPayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdvancedProductionPayments" xml:lang="en-US" id="verboseLabel_emx_AdvancedProductionPayments_en-US">Advanced production payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvancedProductionPayments" xlink:to="label_emx_AdvancedProductionPayments" use="optional" order="33" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdvancedProductionPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdvancedProductionPayments" xml:lang="en-US" id="documentation_emx_AdvancedProductionPayments_en-US">Advanced production payments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xlink:label="DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xlink:title="DisposalOfSubsidiaryDecreaseInOwnershipPercentage"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xml:lang="en-US" id="verboseLabel_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage_en-US">Disposal of subsidiary, decrease in ownership percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xlink:to="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" use="optional" order="34" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xml:lang="en-US" id="documentation_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage_en-US">Disposal of subsidiary, decrease in ownership percentage</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xlink:label="DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xlink:title="DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement_en-US">Description of gold payments associated with share purchase agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xlink:to="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" use="optional" order="35" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xml:lang="en-US" id="documentation_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement_en-US">Description of gold payments associated with share purchase agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherReceivables" xlink:label="TradeAndOtherReceivables" xlink:title="TradeAndOtherReceivables"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TradeAndOtherReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_TradeAndOtherReceivables" xml:lang="en-US" id="verboseLabel_ifrs-full_TradeAndOtherReceivables_en-US">Receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherReceivables" xlink:to="label_ifrs-full_TradeAndOtherReceivables" use="optional" order="36" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AccretedInterestIncomeReceivable" xlink:label="AccretedInterestIncomeReceivable" xlink:title="AccretedInterestIncomeReceivable"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AccretedInterestIncomeReceivable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AccretedInterestIncomeReceivable" xml:lang="en-US" id="verboseLabel_emx_AccretedInterestIncomeReceivable_en-US">Accreted interest income receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccretedInterestIncomeReceivable" xlink:to="label_emx_AccretedInterestIncomeReceivable" use="optional" order="37" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AccretedInterestIncomeReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AccretedInterestIncomeReceivable" xml:lang="en-US" id="documentation_emx_AccretedInterestIncomeReceivable_en-US">Accreted interest income receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_LongTermGoldPriceUsedForCalculations" xlink:label="LongTermGoldPriceUsedForCalculations" xlink:title="LongTermGoldPriceUsedForCalculations"/>
    <link:label xlink:type="resource" xlink:label="label_emx_LongTermGoldPriceUsedForCalculations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_LongTermGoldPriceUsedForCalculations" xml:lang="en-US" id="terseLabel_emx_LongTermGoldPriceUsedForCalculations_en-US">Long term gold price used for calculations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermGoldPriceUsedForCalculations" xlink:to="label_emx_LongTermGoldPriceUsedForCalculations" use="optional" order="38" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_LongTermGoldPriceUsedForCalculations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_LongTermGoldPriceUsedForCalculations" xml:lang="en-US" id="documentation_emx_LongTermGoldPriceUsedForCalculations_en-US">Long term gold price used for calculations</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:label="DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:title="DescriptionOfDiscountRatesAppliedToCashFlowProjections"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xml:lang="en-US" id="terseLabel_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections_en-US">Discount rate applied to cash flow projections</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:to="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" use="optional" order="39" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" xlink:label="DisposalOfSubsidiaryNetAssetsOfSubsidiary" xlink:title="DisposalOfSubsidiaryNetAssetsOfSubsidiary"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" xml:lang="en-US" id="verboseLabel_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary_en-US">Disposal of subsidiary, net assets of subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalOfSubsidiaryNetAssetsOfSubsidiary" xlink:to="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" use="optional" order="40" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" xml:lang="en-US" id="documentation_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary_en-US">Disposal of subsidiary, net assets of subsidiary</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromSharePurchaseAgreement" xlink:label="ProceedsFromSharePurchaseAgreement" xlink:title="ProceedsFromSharePurchaseAgreement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromSharePurchaseAgreement" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromSharePurchaseAgreement_en-US">Proceeds from share purchase agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSharePurchaseAgreement" xlink:to="label_emx_ProceedsFromSharePurchaseAgreement" use="optional" order="41" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromSharePurchaseAgreement" xml:lang="en-US" id="documentation_emx_ProceedsFromSharePurchaseAgreement_en-US">Proceeds from share purchase agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OuncesOfGoldEquivalentToPayment" xlink:label="OuncesOfGoldEquivalentToPayment" xlink:title="OuncesOfGoldEquivalentToPayment"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OuncesOfGoldEquivalentToPayment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OuncesOfGoldEquivalentToPayment" xml:lang="en-US" id="verboseLabel_emx_OuncesOfGoldEquivalentToPayment_en-US">Ounces of gold equivalent to payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OuncesOfGoldEquivalentToPayment" xlink:to="label_emx_OuncesOfGoldEquivalentToPayment" use="optional" order="42" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OuncesOfGoldEquivalentToPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OuncesOfGoldEquivalentToPayment" xml:lang="en-US" id="documentation_emx_OuncesOfGoldEquivalentToPayment_en-US">Ounces of gold equivalent to payment</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="InvestmentsInSubsidiariesJointVenturesAndAssociates"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xml:lang="en-US" id="verboseLabel_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_en-US">Investments in subsidiaries, joint ventures and associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="label_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" use="optional" order="43" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PaymentsForExplorationAndEvaluationAssets" xlink:label="PaymentsForExplorationAndEvaluationAssets" xlink:title="PaymentsForExplorationAndEvaluationAssets"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PaymentsForExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_PaymentsForExplorationAndEvaluationAssets" xml:lang="en-US" id="verboseLabel_emx_PaymentsForExplorationAndEvaluationAssets_en-US">Payments for exploration and evaluation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForExplorationAndEvaluationAssets" xlink:to="label_emx_PaymentsForExplorationAndEvaluationAssets" use="optional" order="44" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PaymentsForExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PaymentsForExplorationAndEvaluationAssets" xml:lang="en-US" id="documentation_emx_PaymentsForExplorationAndEvaluationAssets_en-US">Payments for exploration and evaluation assets</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" xlink:label="GainOnAcquisitionOfExplorationAndEvaluationAssets" xlink:title="GainOnAcquisitionOfExplorationAndEvaluationAssets"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" xml:lang="en-US" id="verboseLabel_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets_en-US">Gain on acquisition of exploration and evaluation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainOnAcquisitionOfExplorationAndEvaluationAssets" xlink:to="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" use="optional" order="45" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" xml:lang="en-US" id="documentation_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets_en-US">Gain on acquisition of exploration and evaluation assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="positiveTerseLabel_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Assets arising from exploration and evaluation of mineral resources</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AnnualCashPaymentsFromSharePurchaseAgreement" xlink:label="AnnualCashPaymentsFromSharePurchaseAgreement" xlink:title="AnnualCashPaymentsFromSharePurchaseAgreement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement" xml:lang="en-US" id="verboseLabel_emx_AnnualCashPaymentsFromSharePurchaseAgreement_en-US">Annual cash payments from share purchase agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualCashPaymentsFromSharePurchaseAgreement" xlink:to="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement" use="optional" order="47" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement" xml:lang="en-US" id="documentation_emx_AnnualCashPaymentsFromSharePurchaseAgreement_en-US">Annual cash payments from share purchase agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ConditionOfSharePurchaseAgreementProductionReturns" xlink:label="ConditionOfSharePurchaseAgreementProductionReturns" xlink:title="ConditionOfSharePurchaseAgreementProductionReturns"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ConditionOfSharePurchaseAgreementProductionReturns" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ConditionOfSharePurchaseAgreementProductionReturns" xml:lang="en-US" id="verboseLabel_emx_ConditionOfSharePurchaseAgreementProductionReturns_en-US">Condition of share purchase agreement, production returns</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConditionOfSharePurchaseAgreementProductionReturns" xlink:to="label_emx_ConditionOfSharePurchaseAgreementProductionReturns" use="optional" order="48" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ConditionOfSharePurchaseAgreementProductionReturns" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ConditionOfSharePurchaseAgreementProductionReturns" xml:lang="en-US" id="documentation_emx_ConditionOfSharePurchaseAgreementProductionReturns_en-US">Condition of share purchase agreement, production returns</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xlink:label="ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xlink:title="ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xml:lang="en-US" id="verboseLabel_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable_en-US">Proportion of advance cash payments credited against NSR payment payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xlink:to="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" use="optional" order="49" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xml:lang="en-US" id="documentation_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable_en-US">Proportion of advance cash payments credited against NSR payment payable</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_RoyaltyInterest" xml:lang="en-US" id="verboseLabel_emx_RoyaltyInterest_en-US">Royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromAdvanceRoyaltyPayment" xlink:label="ProceedsFromAdvanceRoyaltyPayment" xlink:title="ProceedsFromAdvanceRoyaltyPayment"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAdvanceRoyaltyPayment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromAdvanceRoyaltyPayment" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromAdvanceRoyaltyPayment_en-US">Proceeds from advance royalty payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromAdvanceRoyaltyPayment" xlink:to="label_emx_ProceedsFromAdvanceRoyaltyPayment" use="optional" order="51" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAdvanceRoyaltyPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromAdvanceRoyaltyPayment" xml:lang="en-US" id="documentation_emx_ProceedsFromAdvanceRoyaltyPayment_en-US">Proceeds from advance royalty payment</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromAnAdjustedRoyaltyPayment" xlink:label="ProceedsFromAnAdjustedRoyaltyPayment" xlink:title="ProceedsFromAnAdjustedRoyaltyPayment"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnAdjustedRoyaltyPayment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromAnAdjustedRoyaltyPayment" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromAnAdjustedRoyaltyPayment_en-US">Proceeds from an adjusted royalty payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromAnAdjustedRoyaltyPayment" xlink:to="label_emx_ProceedsFromAnAdjustedRoyaltyPayment" use="optional" order="52" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnAdjustedRoyaltyPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromAnAdjustedRoyaltyPayment" xml:lang="en-US" id="documentation_emx_ProceedsFromAnAdjustedRoyaltyPayment_en-US">Proceeds from an adjusted royalty payment</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RevenueFromRoyalties" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_ifrs-full_RevenueFromRoyalties" xml:lang="en-US" id="positiveTerseLabel_ifrs-full_RevenueFromRoyalties_en-US">Royalty income</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GolcukTransferAndRoyaltyAgreementSharesReceived" xlink:label="GolcukTransferAndRoyaltyAgreementSharesReceived" xlink:title="GolcukTransferAndRoyaltyAgreementSharesReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived" xml:lang="en-US" id="verboseLabel_emx_GolcukTransferAndRoyaltyAgreementSharesReceived_en-US">Golcuk Transfer and Royalty Agreement, shares received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GolcukTransferAndRoyaltyAgreementSharesReceived" xlink:to="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived" use="optional" order="54" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived" xml:lang="en-US" id="documentation_emx_GolcukTransferAndRoyaltyAgreementSharesReceived_en-US">Golcuk Transfer and Royalty Agreement, shares received</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xlink:label="GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xlink:title="GolcukTransferAndRoyaltyAgreementValueOfSharesReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xml:lang="en-US" id="verboseLabel_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived_en-US">Golcuk Transfer and Royalty Agreement, value of shares received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xlink:to="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" use="optional" order="55" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xml:lang="en-US" id="documentation_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived_en-US">Golcuk Transfer and Royalty Agreement, value of shares received</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xlink:label="GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xlink:title="GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xml:lang="en-US" id="verboseLabel_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare_en-US">Golcuk Transfer and Royalty Agreement, shares received, value per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xlink:to="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" use="optional" order="56" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xml:lang="en-US" id="documentation_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare_en-US">Golcuk Transfer and Royalty Agreement, shares received, value per share</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:label="LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:title="LossesOnDisposalsOfPropertyPlantAndEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/negativeLabel" xlink:title="label_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xml:lang="en-US" id="negativeLabel_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment_en-US">Losses on disposals of property, plant and field equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:to="label_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" use="optional" order="57" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_DisposalsPropertyPlantAndEquipment" xml:lang="en-US" id="terseLabel_ifrs-full_DisposalsPropertyPlantAndEquipment_en-US">Disposals, property, and field equipment</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" xlink:label="ProceedsFromSaleOfExplorationAndEvaluationAssets" xlink:title="ProceedsFromSaleOfExplorationAndEvaluationAssets"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" xml:lang="en-US" id="verboseLabel_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets_en-US">Proceeds from sale of exploration and evaluation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOfExplorationAndEvaluationAssets" xlink:to="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" use="optional" order="59" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" xml:lang="en-US" id="documentation_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets_en-US">Proceeds from sale of exploration and evaluation assets</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExplorationIncomeAsOptionPayments" xlink:label="ExplorationIncomeAsOptionPayments" xlink:title="ExplorationIncomeAsOptionPayments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationIncomeAsOptionPayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ExplorationIncomeAsOptionPayments" xml:lang="en-US" id="verboseLabel_emx_ExplorationIncomeAsOptionPayments_en-US">Exploration income as option payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationIncomeAsOptionPayments" xlink:to="label_emx_ExplorationIncomeAsOptionPayments" use="optional" order="60" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationIncomeAsOptionPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExplorationIncomeAsOptionPayments" xml:lang="en-US" id="documentation_emx_ExplorationIncomeAsOptionPayments_en-US">Exploration income as option payments</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="positiveTerseLabel_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Expense arising from exploration for and evaluation of mineral resources</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyInterestsAxis" xlink:label="RoyaltyInterestsAxis" xlink:title="RoyaltyInterestsAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RoyaltyInterestsAxis" xml:lang="en-US" id="label_emx_RoyaltyInterestsAxis_en-US">Royalty Interests [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyInterestsAxis" xlink:to="label_emx_RoyaltyInterestsAxis" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestsAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyInterestsAxis" xml:lang="en-US" id="documentation_emx_RoyaltyInterestsAxis_en-US">Royalty Interests</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyInterestsDomain" xlink:label="RoyaltyInterestsDomain" xlink:title="RoyaltyInterestsDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RoyaltyInterestsDomain" xml:lang="en-US" id="label_emx_RoyaltyInterestsDomain_en-US">Royalty Interests [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyInterestsDomain" xlink:to="label_emx_RoyaltyInterestsDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestsDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyInterestsDomain" xml:lang="en-US" id="documentation_emx_RoyaltyInterestsDomain_en-US">Royalty Interests</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_MaggieCreekMember" xlink:label="MaggieCreekMember" xlink:title="MaggieCreekMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_MaggieCreekMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_MaggieCreekMember" xml:lang="en-US" id="label_emx_MaggieCreekMember_en-US">Maggie Creek [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaggieCreekMember" xlink:to="label_emx_MaggieCreekMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_MaggieCreekMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_MaggieCreekMember" xml:lang="en-US" id="documentation_emx_MaggieCreekMember_en-US">Maggie Creek</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AfganMember" xlink:label="AfganMember" xlink:title="AfganMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AfganMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AfganMember" xml:lang="en-US" id="label_emx_AfganMember_en-US">Afgan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AfganMember" xlink:to="label_emx_AfganMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AfganMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AfganMember" xml:lang="en-US" id="documentation_emx_AfganMember_en-US">Afgan</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_LeevilleMineMember" xlink:label="LeevilleMineMember" xlink:title="LeevilleMineMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_LeevilleMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_LeevilleMineMember" xml:lang="en-US" id="label_emx_LeevilleMineMember_en-US">Leeville Mine [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeevilleMineMember" xlink:to="label_emx_LeevilleMineMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_LeevilleMineMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_LeevilleMineMember" xml:lang="en-US" id="documentation_emx_LeevilleMineMember_en-US">Leeville Mine</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EastOreBodyMineMember" xlink:label="EastOreBodyMineMember" xlink:title="EastOreBodyMineMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EastOreBodyMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EastOreBodyMineMember" xml:lang="en-US" id="label_emx_EastOreBodyMineMember_en-US">East Ore Body Mine [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EastOreBodyMineMember" xlink:to="label_emx_EastOreBodyMineMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EastOreBodyMineMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EastOreBodyMineMember" xml:lang="en-US" id="documentation_emx_EastOreBodyMineMember_en-US">East Ore Body Mine</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NorthPipelineMember" xlink:label="NorthPipelineMember" xlink:title="NorthPipelineMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NorthPipelineMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NorthPipelineMember" xml:lang="en-US" id="label_emx_NorthPipelineMember_en-US">North Pipeline [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NorthPipelineMember" xlink:to="label_emx_NorthPipelineMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NorthPipelineMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NorthPipelineMember" xml:lang="en-US" id="documentation_emx_NorthPipelineMember_en-US">North Pipeline</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xlink:label="NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xlink:title="NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xml:lang="en-US" id="verboseLabel_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired_en-US">Net smelter return royalty on all precious metals acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xlink:to="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xml:lang="en-US" id="documentation_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired_en-US">Net smelter return royalty on all precious metals acquired</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xlink:label="NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xlink:title="NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xml:lang="en-US" id="verboseLabel_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired_en-US">Net smelter return royalty on all other minerals acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xlink:to="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xml:lang="en-US" id="documentation_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired_en-US">Net smelter return royalty on all other minerals acquired</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NetSmelterReturnRoyaltyAcquired" xlink:label="NetSmelterReturnRoyaltyAcquired" xlink:title="NetSmelterReturnRoyaltyAcquired"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NetSmelterReturnRoyaltyAcquired" xml:lang="en-US" id="verboseLabel_emx_NetSmelterReturnRoyaltyAcquired_en-US">Net smelter return royalty acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetSmelterReturnRoyaltyAcquired" xlink:to="label_emx_NetSmelterReturnRoyaltyAcquired" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NetSmelterReturnRoyaltyAcquired" xml:lang="en-US" id="documentation_emx_NetSmelterReturnRoyaltyAcquired_en-US">Net smelter return royalty acquired</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares_en-US">Shares issued for acquisition of a royalty interest (Shares)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest_en-US">Shares issued for acquisition of a royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrossSmelterReturnRoyalty" xlink:label="GrossSmelterReturnRoyalty" xlink:title="GrossSmelterReturnRoyalty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrossSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrossSmelterReturnRoyalty" xml:lang="en-US" id="verboseLabel_emx_GrossSmelterReturnRoyalty_en-US">Gross smelter return royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossSmelterReturnRoyalty" xlink:to="label_emx_GrossSmelterReturnRoyalty" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrossSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrossSmelterReturnRoyalty" xml:lang="en-US" id="documentation_emx_GrossSmelterReturnRoyalty_en-US">Gross smelter return royalty</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfProductionRoyalty" xlink:label="DescriptionOfProductionRoyalty" xlink:title="DescriptionOfProductionRoyalty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfProductionRoyalty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfProductionRoyalty" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfProductionRoyalty_en-US">Description of production royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfProductionRoyalty" xlink:to="label_emx_DescriptionOfProductionRoyalty" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfProductionRoyalty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfProductionRoyalty" xml:lang="en-US" id="documentation_emx_DescriptionOfProductionRoyalty_en-US">Description of production royalty</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RevenueFromRoyalties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_RevenueFromRoyalties" xml:lang="en-US" id="terseLabel_ifrs-full_RevenueFromRoyalties_en-US">Royalty income</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GoldTaxPercentage" xlink:label="GoldTaxPercentage" xlink:title="GoldTaxPercentage"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldTaxPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GoldTaxPercentage" xml:lang="en-US" id="verboseLabel_emx_GoldTaxPercentage_en-US">Gold tax, percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoldTaxPercentage" xlink:to="label_emx_GoldTaxPercentage" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldTaxPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GoldTaxPercentage" xml:lang="en-US" id="documentation_emx_GoldTaxPercentage_en-US">Gold tax, percentage</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ImpairmentOfRoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_emx_ImpairmentOfRoyaltyInterest" xml:lang="en-US" id="positiveLabel_emx_ImpairmentOfRoyaltyInterest_en-US">Impairment of royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_StockOptionsByDateGrantedAxis" xlink:label="StockOptionsByDateGrantedAxis" xlink:title="StockOptionsByDateGrantedAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_StockOptionsByDateGrantedAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_StockOptionsByDateGrantedAxis" xml:lang="en-US" id="label_emx_StockOptionsByDateGrantedAxis_en-US">Stock options by date granted [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockOptionsByDateGrantedAxis" xlink:to="label_emx_StockOptionsByDateGrantedAxis" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_StockOptionsByDateGrantedAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_StockOptionsByDateGrantedAxis" xml:lang="en-US" id="documentation_emx_StockOptionsByDateGrantedAxis_en-US">Stock options by date granted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_StockOptionsByDateGrantedDomain" xlink:label="StockOptionsByDateGrantedDomain" xlink:title="StockOptionsByDateGrantedDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_StockOptionsByDateGrantedDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_StockOptionsByDateGrantedDomain" xml:lang="en-US" id="label_emx_StockOptionsByDateGrantedDomain_en-US">Stock options by date granted [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockOptionsByDateGrantedDomain" xlink:to="label_emx_StockOptionsByDateGrantedDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_StockOptionsByDateGrantedDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_StockOptionsByDateGrantedDomain" xml:lang="en-US" id="documentation_emx_StockOptionsByDateGrantedDomain_en-US">Stock options by date granted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xlink:label="GrantedAugustTwoEightTwoZeroOneSevenMember" xlink:title="GrantedAugustTwoEightTwoZeroOneSevenMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xml:lang="en-US" id="terseLabel_emx_GrantedAugustTwoEightTwoZeroOneSevenMember_en-US">Stock Options Granted August 28, 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedAugustTwoEightTwoZeroOneSevenMember" xlink:to="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xml:lang="en-US" id="documentation_emx_GrantedAugustTwoEightTwoZeroOneSevenMember_en-US">Granted August 28, 2017</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:label="TypesOfSharebasedPaymentArrangementsAxis" xlink:title="TypesOfSharebasedPaymentArrangementsAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xml:lang="en-US" id="label_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_en-US">Types of share-based payment arrangements [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfSharebasedPaymentArrangementsAxis" xlink:to="label_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SharebasedPaymentArrangementsMember" xlink:label="SharebasedPaymentArrangementsMember" xlink:title="SharebasedPaymentArrangementsMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_SharebasedPaymentArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_SharebasedPaymentArrangementsMember" xml:lang="en-US" id="label_ifrs-full_SharebasedPaymentArrangementsMember_en-US">Share-based payment arrangements [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedPaymentArrangementsMember" xlink:to="label_ifrs-full_SharebasedPaymentArrangementsMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RestrictedShareUnitsVestedMember" xlink:label="RestrictedShareUnitsVestedMember" xlink:title="RestrictedShareUnitsVestedMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RestrictedShareUnitsVestedMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_RestrictedShareUnitsVestedMember" xml:lang="en-US" id="verboseLabel_emx_RestrictedShareUnitsVestedMember_en-US">RSU's vested [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedShareUnitsVestedMember" xlink:to="label_emx_RestrictedShareUnitsVestedMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RestrictedShareUnitsVestedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RestrictedShareUnitsVestedMember" xml:lang="en-US" id="documentation_emx_RestrictedShareUnitsVestedMember_en-US">Restricted share units vested</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_IssueOfEquity" xml:lang="en-US" id="terseLabel_ifrs-full_IssueOfEquity_en-US">Shares issued for private placement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding" xml:lang="en-US" id="verboseLabel_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding_en-US">Shares issued for private placement (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EquityIssuancePricePerUnit" xlink:label="EquityIssuancePricePerUnit" xlink:title="EquityIssuancePricePerUnit"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EquityIssuancePricePerUnit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EquityIssuancePricePerUnit" xml:lang="en-US" id="verboseLabel_emx_EquityIssuancePricePerUnit_en-US">Equity Issuance, Price per Unit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityIssuancePricePerUnit" xlink:to="label_emx_EquityIssuancePricePerUnit" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EquityIssuancePricePerUnit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EquityIssuancePricePerUnit" xml:lang="en-US" id="documentation_emx_EquityIssuancePricePerUnit_en-US">Equity Issuance, Price per Unit</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ShareIssueCosts" xlink:label="ShareIssueCosts" xlink:title="ShareIssueCosts"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ShareIssueCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ShareIssueCosts" xml:lang="en-US" id="verboseLabel_emx_ShareIssueCosts_en-US">Share issue costs (units and cash)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssueCosts" xlink:to="label_emx_ShareIssueCosts" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ShareIssueCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ShareIssueCosts" xml:lang="en-US" id="documentation_emx_ShareIssueCosts_en-US">Share issue costs (units and cash)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares_en-US">Finder's fees in units (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xlink:label="FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xlink:title="FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xml:lang="en-US" id="verboseLabel_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders_en-US">Finder's fees in units, percentage of units sold to investors introduced by finders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xlink:to="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xml:lang="en-US" id="documentation_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders_en-US">Finder's fees in units, percentage of units sold to investors introduced by finders</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_FinanceCosts" xml:lang="en-US" id="terseLabel_ifrs-full_FinanceCosts_en-US">Share issuance costs in cash</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xlink:label="SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xlink:title="SharesIssuedPursuantToAnIncentiveStockGrantProgramShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xml:lang="en-US" id="verboseLabel_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares_en-US">Shares issued pursuant to an incentive stock grant program (shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xlink:to="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" use="optional" order="10" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xml:lang="en-US" id="documentation_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares_en-US">Shares issued pursuant to an incentive stock grant program (shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" xlink:label="SharesIssuedPursuantToAnIncentiveStockGrantProgram" xlink:title="SharesIssuedPursuantToAnIncentiveStockGrantProgram"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" xml:lang="en-US" id="verboseLabel_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram_en-US">Shares issued pursuant to an incentive stock grant program</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesIssuedPursuantToAnIncentiveStockGrantProgram" xlink:to="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" xml:lang="en-US" id="documentation_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram_en-US">Shares issued pursuant to an incentive stock grant program</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions_en-US">Shares issued for exercise of options (shares)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions_en-US">Shares issued for exercise of options (shares)</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xml:lang="en-US" id="terseLabel_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_en-US">Shares issued for exercise of options</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xlink:label="IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xlink:title="IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements_en-US">Employment and consulting agreements (Shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xlink:to="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements_en-US">Employment and consulting agreements (Shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xlink:label="IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xlink:title="IncreaseDecreaseThroughEmploymentAndConsultingAgreements"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xml:lang="en-US" id="verboseLabel_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements_en-US">Employment and consulting agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xlink:to="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" use="optional" order="15" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xml:lang="en-US" id="documentation_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements_en-US">Employment and consulting agreements</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_CommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_CommitmentToIssueShares" xml:lang="en-US" id="terseLabel_emx_CommitmentToIssueShares_en-US">Commitment to issue shares</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" xlink:label="IncreaseDecreateThroughSharesIssuedForPropertyShares" xlink:title="IncreaseDecreateThroughSharesIssuedForPropertyShares"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares_en-US">Shares issued for property (shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreateThroughSharesIssuedForPropertyShares" xlink:to="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" use="optional" order="17" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" xml:lang="en-US" id="documentation_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares_en-US">Shares issued for property (shares)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncreaseDecreateThroughSharesIssuedForProperty" xlink:label="IncreaseDecreateThroughSharesIssuedForProperty" xlink:title="IncreaseDecreateThroughSharesIssuedForProperty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreateThroughSharesIssuedForProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreateThroughSharesIssuedForProperty" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreateThroughSharesIssuedForProperty_en-US">Shares issued for property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreateThroughSharesIssuedForProperty" xlink:to="label_emx_IncreaseDecreateThroughSharesIssuedForProperty" use="optional" order="18" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreateThroughSharesIssuedForProperty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncreaseDecreateThroughSharesIssuedForProperty" xml:lang="en-US" id="documentation_emx_IncreaseDecreateThroughSharesIssuedForProperty_en-US">Shares issued for property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfStockOptionPlan" xlink:label="DescriptionOfStockOptionPlan" xlink:title="DescriptionOfStockOptionPlan"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfStockOptionPlan" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfStockOptionPlan" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfStockOptionPlan_en-US">Description of stock option plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfStockOptionPlan" xlink:to="label_emx_DescriptionOfStockOptionPlan" use="optional" order="19" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfStockOptionPlan" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfStockOptionPlan" xml:lang="en-US" id="documentation_emx_DescriptionOfStockOptionPlan_en-US">Description of stock option plan</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DescriptionOfOptionVestingSchedule" xlink:label="DescriptionOfOptionVestingSchedule" xlink:title="DescriptionOfOptionVestingSchedule"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfOptionVestingSchedule" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DescriptionOfOptionVestingSchedule" xml:lang="en-US" id="verboseLabel_emx_DescriptionOfOptionVestingSchedule_en-US">Description of option vesting schedule</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfOptionVestingSchedule" xlink:to="label_emx_DescriptionOfOptionVestingSchedule" use="optional" order="20" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfOptionVestingSchedule" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DescriptionOfOptionVestingSchedule" xml:lang="en-US" id="documentation_emx_DescriptionOfOptionVestingSchedule_en-US">Description of option vesting schedule</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:label="WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:title="WeightedAverageRemainingContractualLifeOfOutstandingShareOptions"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xml:lang="en-US" id="verboseLabel_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions_en-US">Weighted average remaining contractual life of outstanding share options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:to="label_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" use="optional" order="21" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareIssueRelatedCost" xlink:label="ShareIssueRelatedCost" xlink:title="ShareIssueRelatedCost"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ShareIssueRelatedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ShareIssueRelatedCost" xml:lang="en-US" id="terseLabel_ifrs-full_ShareIssueRelatedCost_en-US">Share-based Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssueRelatedCost" xlink:to="label_ifrs-full_ShareIssueRelatedCost" use="optional" order="22" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate" xlink:label="RestrictedShareUnitsFairValuePerUnitOnGrantDate" xlink:title="RestrictedShareUnitsFairValuePerUnitOnGrantDate"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate" xml:lang="en-US" id="verboseLabel_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate_en-US">Restricted share units, fair value per unit on grant date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedShareUnitsFairValuePerUnitOnGrantDate" xlink:to="label_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate" use="optional" order="23" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate" xml:lang="en-US" id="documentation_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate_en-US">Restricted share units, fair value per unit on grant date</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_WeightedAverageFairValueOfTheStockOptionsGranted" xlink:label="WeightedAverageFairValueOfTheStockOptionsGranted" xlink:title="WeightedAverageFairValueOfTheStockOptionsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted" xml:lang="en-US" id="verboseLabel_emx_WeightedAverageFairValueOfTheStockOptionsGranted_en-US">Weighted average fair value of the stock options granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageFairValueOfTheStockOptionsGranted" xlink:to="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted" use="optional" order="24" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted" xml:lang="en-US" id="documentation_emx_WeightedAverageFairValueOfTheStockOptionsGranted_en-US">Weighted average fair value of the stock options granted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncomeTaxRatesAxis" xlink:label="IncomeTaxRatesAxis" xlink:title="IncomeTaxRatesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncomeTaxRatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IncomeTaxRatesAxis" xml:lang="en-US" id="label_emx_IncomeTaxRatesAxis_en-US">Income tax rates [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRatesAxis" xlink:to="label_emx_IncomeTaxRatesAxis" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncomeTaxRatesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncomeTaxRatesAxis" xml:lang="en-US" id="documentation_emx_IncomeTaxRatesAxis_en-US">Income tax rates</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IncomeTaxRatesDomain" xlink:label="IncomeTaxRatesDomain" xlink:title="IncomeTaxRatesDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncomeTaxRatesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IncomeTaxRatesDomain" xml:lang="en-US" id="label_emx_IncomeTaxRatesDomain_en-US">Income tax rates [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRatesDomain" xlink:to="label_emx_IncomeTaxRatesDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IncomeTaxRatesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IncomeTaxRatesDomain" xml:lang="en-US" id="documentation_emx_IncomeTaxRatesDomain_en-US">Income tax rates</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_A1" xlink:label="A1" xlink:title="A1"/>
    <link:label xlink:type="resource" xlink:label="label_stpr_A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_stpr_A1" xml:lang="en-US" id="label_stpr_A1_en-US">British Columbia (BC) Government - general corporate income tax rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="A1" xlink:to="label_stpr_A1" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" xlink:label="CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" xlink:title="CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" xml:lang="en-US" id="verboseLabel_emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember_en-US">Combined Federal and Provincial (BC) general corporate income tax rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" xlink:to="label_emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" xml:lang="en-US" id="documentation_emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember_en-US">Combined Federal and Provincial general corporate income tax rate</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" xlink:label="UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" xlink:title="UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" xml:lang="en-US" id="verboseLabel_emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember_en-US">United States Government - Federal corporate income tax rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" xlink:to="label_emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" xml:lang="en-US" id="documentation_emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember_en-US">United States Government - Federal corporate income tax rate</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ApplicableTaxRate" xlink:title="ApplicableTaxRate"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ApplicableTaxRate" xml:lang="en-US" id="verboseLabel_ifrs-full_ApplicableTaxRate_en-US">Applicable tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ApplicableTaxRate" xlink:to="label_ifrs-full_ApplicableTaxRate" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NonexecutiveChairmanMember" xlink:label="NonexecutiveChairmanMember" xlink:title="NonexecutiveChairmanMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NonexecutiveChairmanMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NonexecutiveChairmanMember" xml:lang="en-US" id="verboseLabel_emx_NonexecutiveChairmanMember_en-US">Non-Executive Chairman [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonexecutiveChairmanMember" xlink:to="label_emx_NonexecutiveChairmanMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NonexecutiveChairmanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NonexecutiveChairmanMember" xml:lang="en-US" id="documentation_emx_NonexecutiveChairmanMember_en-US">Non-Executive Chairman</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="KeyManagementPersonnelOfEntityOrParentMember" xlink:title="KeyManagementPersonnelOfEntityOrParentMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xml:lang="en-US" id="label_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_en-US">Key management personnel [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelOfEntityOrParentMember" xlink:to="label_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_OtherRelatedPartiesMember" xml:lang="en-US" id="label_ifrs-full_OtherRelatedPartiesMember_en-US">Other related parties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRelatedPartiesMember" xlink:to="label_ifrs-full_OtherRelatedPartiesMember" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="KeyManagementPersonnelCompensation" xlink:title="KeyManagementPersonnelCompensation"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_KeyManagementPersonnelCompensation" xml:lang="en-US" id="terseLabel_ifrs-full_KeyManagementPersonnelCompensation_en-US">Key management personnel compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensation" xlink:to="label_ifrs-full_KeyManagementPersonnelCompensation" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:label="KeyManagementPersonnelCompensationTerminationBenefits" xlink:title="KeyManagementPersonnelCompensationTerminationBenefits"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xml:lang="en-US" id="verboseLabel_ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits_en-US">Key management personnel compensation, termination benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationTerminationBenefits" xlink:to="label_ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_TradeAndOtherCurrentPayables" xml:lang="en-US" id="terseLabel_ifrs-full_TradeAndOtherCurrentPayables_en-US">Accounts payable and accrued liabilities</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_RS" xlink:label="RS" xlink:title="RS"/>
    <link:label xlink:type="resource" xlink:label="label_country_RS" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_RS" xml:lang="en-US" id="label_country_RS_en-US">Serbia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RS" xlink:to="label_country_RS" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_NV" xlink:label="NV" xlink:title="NV"/>
    <link:label xlink:type="resource" xlink:label="label_stpr_NV" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_stpr_NV" xml:lang="en-US" id="label_stpr_NV_en-US">Nevada, USA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NV" xlink:to="label_stpr_NV" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="TypesOfRisksAxis" xlink:title="TypesOfRisksAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TypesOfRisksAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TypesOfRisksAxis" xml:lang="en-US" id="label_ifrs-full_TypesOfRisksAxis_en-US">Types of risks [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksAxis" xlink:to="label_ifrs-full_TypesOfRisksAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember" xlink:title="TypesOfRisksMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TypesOfRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TypesOfRisksMember" xml:lang="en-US" id="label_ifrs-full_TypesOfRisksMember_en-US">Risks [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksMember" xlink:to="label_ifrs-full_TypesOfRisksMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MarketRiskMember" xlink:label="MarketRiskMember" xlink:title="MarketRiskMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_MarketRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_MarketRiskMember" xml:lang="en-US" id="label_ifrs-full_MarketRiskMember_en-US">Market Risk [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketRiskMember" xlink:to="label_ifrs-full_MarketRiskMember" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrencyRiskMember" xlink:label="CurrencyRiskMember" xlink:title="CurrencyRiskMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CurrencyRiskMember" xml:lang="en-US" id="label_ifrs-full_CurrencyRiskMember_en-US">Currency Risk [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencyRiskMember" xlink:to="label_ifrs-full_CurrencyRiskMember" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_WorkingCapital" xlink:label="WorkingCapital" xlink:title="WorkingCapital"/>
    <link:label xlink:type="resource" xlink:label="label_emx_WorkingCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_WorkingCapital" xml:lang="en-US" id="verboseLabel_emx_WorkingCapital_en-US">Working capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WorkingCapital" xlink:to="label_emx_WorkingCapital" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_WorkingCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_WorkingCapital" xml:lang="en-US" id="documentation_emx_WorkingCapital_en-US">Working capital</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_LongTermGoldPriceUsedForCalculations" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_LongTermGoldPriceUsedForCalculations" xml:lang="en-US" id="verboseLabel_emx_LongTermGoldPriceUsedForCalculations_en-US">Long term gold price used for calculations</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xml:lang="en-US" id="verboseLabel_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections_en-US">Discount rate applied to cash flow projections</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PotentialChangeInMarketPrices" xlink:label="PotentialChangeInMarketPrices" xlink:title="PotentialChangeInMarketPrices"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PotentialChangeInMarketPrices" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_PotentialChangeInMarketPrices" xml:lang="en-US" id="verboseLabel_emx_PotentialChangeInMarketPrices_en-US">Potential change in market prices</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PotentialChangeInMarketPrices" xlink:to="label_emx_PotentialChangeInMarketPrices" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PotentialChangeInMarketPrices" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PotentialChangeInMarketPrices" xml:lang="en-US" id="documentation_emx_PotentialChangeInMarketPrices_en-US">Potential change in market prices</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ValueAtRisk" xlink:label="ValueAtRisk" xlink:title="ValueAtRisk"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ValueAtRisk" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ValueAtRisk" xml:lang="en-US" id="verboseLabel_ifrs-full_ValueAtRisk_en-US">Value at risk</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValueAtRisk" xlink:to="label_ifrs-full_ValueAtRisk" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xml:lang="en-US" id="positiveLabel_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_en-US">Change in fair value of financial instruments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares_en-US">Shares issued as incentive stock grants (shares)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments_en-US">Equity investment share-based payments</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xml:lang="en-US" id="verboseLabel_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_en-US">Currency translation adjustment</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyalInterestCumulativeTranslationAdjustments" xlink:label="RoyalInterestCumulativeTranslationAdjustments" xlink:title="RoyalInterestCumulativeTranslationAdjustments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyalInterestCumulativeTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_RoyalInterestCumulativeTranslationAdjustments" xml:lang="en-US" id="terseLabel_emx_RoyalInterestCumulativeTranslationAdjustments_en-US">CTA loss on royalty interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyalInterestCumulativeTranslationAdjustments" xlink:to="label_emx_RoyalInterestCumulativeTranslationAdjustments" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyalInterestCumulativeTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyalInterestCumulativeTranslationAdjustments" xml:lang="en-US" id="documentation_emx_RoyalInterestCumulativeTranslationAdjustments_en-US">CTA loss on royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:label="IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:title="IncreaseDecreaseThroughNetExchangeDifferencesGoodwill"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xml:lang="en-US" id="terseLabel_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill_en-US">CTA loss on goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:to="label_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" use="optional" order="7" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xlink:label="CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xlink:title="CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xml:lang="en-US" id="verboseLabel_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability_en-US">CTA gain on deferred tax liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xlink:to="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xml:lang="en-US" id="documentation_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability_en-US">CTA gain on deferred tax liability</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xlink:label="CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xlink:title="CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xml:lang="en-US" id="verboseLabel_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary_en-US">CTA gain in the net assets of a subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xlink:to="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xml:lang="en-US" id="documentation_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary_en-US">CTA gain in the net assets of a subsidiary</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclassOfReservesOnExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_ReclassOfReservesOnExerciseOfOptions" xml:lang="en-US" id="terseLabel_emx_ReclassOfReservesOnExerciseOfOptions_en-US">Reclass of reserves on exercise of options</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xlink:label="ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xlink:title="ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xml:lang="en-US" id="verboseLabel_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany_en-US">Conversion of convertible loan to an investment in an associated company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xlink:to="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xml:lang="en-US" id="documentation_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany_en-US">Conversion of convertible loan to an investment in an associated company</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughFinderSFeesInUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_IncreaseDecreaseThroughFinderSFeesInUnits" xml:lang="en-US" id="terseLabel_emx_IncreaseDecreaseThroughFinderSFeesInUnits_en-US">Finder's fees in units</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xlink:label="ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xlink:title="ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xml:lang="en-US" id="verboseLabel_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances_en-US">Reclassification of restricted cash to cash and cash equivalents for joint venture partner advances</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xlink:to="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xml:lang="en-US" id="documentation_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances_en-US">Reclassification of restricted cash to cash and cash equivalents for joint venture partner advances</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="NonadjustingEventsAfterReportingPeriodAxis" xlink:title="NonadjustingEventsAfterReportingPeriodAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xml:lang="en-US" id="label_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_en-US">Events subsequent to the reporting date [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsAfterReportingPeriodAxis" xlink:to="label_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="NonadjustingEventsMember" xlink:title="NonadjustingEventsMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NonadjustingEventsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NonadjustingEventsMember" xml:lang="en-US" id="label_ifrs-full_NonadjustingEventsMember_en-US">Events subsequent to the reporting date [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsMember" xlink:to="label_ifrs-full_NonadjustingEventsMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" xlink:label="EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" xlink:title="EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" xml:lang="en-US" id="verboseLabel_emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember_en-US">Events subsequent to the reporting date - Sweden (Boreal Energy Metals Corporation) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" xlink:to="label_emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember" xml:lang="en-US" id="documentation_emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember_en-US">Events subsequent to the reporting date - Sweden (Boreal Energy Metals Corporation)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xlink:label="EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xlink:title="EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xml:lang="en-US" id="verboseLabel_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember_en-US">Events subsequent to the reporting date - Buckhorn Creek Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xlink:to="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xml:lang="en-US" id="documentation_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember_en-US">Events subsequent to the reporting date - Buckhorn Creek Property</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EventsSubsequentToTheReportingDateTurkeyMember" xlink:label="EventsSubsequentToTheReportingDateTurkeyMember" xlink:title="EventsSubsequentToTheReportingDateTurkeyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateTurkeyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EventsSubsequentToTheReportingDateTurkeyMember" xml:lang="en-US" id="verboseLabel_emx_EventsSubsequentToTheReportingDateTurkeyMember_en-US">Events subsequent to the reporting date - Turkey [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EventsSubsequentToTheReportingDateTurkeyMember" xlink:to="label_emx_EventsSubsequentToTheReportingDateTurkeyMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateTurkeyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EventsSubsequentToTheReportingDateTurkeyMember" xml:lang="en-US" id="documentation_emx_EventsSubsequentToTheReportingDateTurkeyMember_en-US">Events subsequent to the reporting date - Turkey</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProjectOwnershipPercentageForSale" xlink:label="ProjectOwnershipPercentageForSale" xlink:title="ProjectOwnershipPercentageForSale"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProjectOwnershipPercentageForSale" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ProjectOwnershipPercentageForSale" xml:lang="en-US" id="verboseLabel_emx_ProjectOwnershipPercentageForSale_en-US">Project ownership percentage for sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectOwnershipPercentageForSale" xlink:to="label_emx_ProjectOwnershipPercentageForSale" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProjectOwnershipPercentageForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProjectOwnershipPercentageForSale" xml:lang="en-US" id="documentation_emx_ProjectOwnershipPercentageForSale_en-US">Project ownership percentage for sale</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xml:lang="en-US" id="verboseLabel_ifrs-full_PercentageOfVotingEquityInterestsAcquired_en-US">Percentage of equity ownership acquired</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" xlink:label="DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" xlink:title="DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" xml:lang="en-US" id="verboseLabel_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation_en-US">Definitive sales agreement, description of equity ownership continuing obligation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" xlink:to="label_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation" xml:lang="en-US" id="documentation_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation_en-US">Definitive sales agreement, description of equity ownership continuing obligation</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xlink:label="DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xlink:title="DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xml:lang="en-US" id="verboseLabel_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty_en-US">Definitive sales agreement, description of net smelter royalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xlink:to="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xml:lang="en-US" id="documentation_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty_en-US">Definitive sales agreement, description of net smelter royalty</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xlink:label="DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xlink:title="DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xml:lang="en-US" id="verboseLabel_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments_en-US">Definitive sales agreement, description of advanced annual royalty payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xlink:to="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xml:lang="en-US" id="documentation_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments_en-US">Definitive sales agreement, description of advanced annual royalty payments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmendedSalesAgreementAdditionalSharesToBeReceived" xlink:label="AmendedSalesAgreementAdditionalSharesToBeReceived" xlink:title="AmendedSalesAgreementAdditionalSharesToBeReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived" xml:lang="en-US" id="verboseLabel_emx_AmendedSalesAgreementAdditionalSharesToBeReceived_en-US">Amended sales agreement, additional shares to be received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendedSalesAgreementAdditionalSharesToBeReceived" xlink:to="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived" xml:lang="en-US" id="documentation_emx_AmendedSalesAgreementAdditionalSharesToBeReceived_en-US">Amended sales agreement, additional shares to be received</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NumberOfEquityInstrumentsHeld" xlink:label="NumberOfEquityInstrumentsHeld" xlink:title="NumberOfEquityInstrumentsHeld"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfEquityInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NumberOfEquityInstrumentsHeld" xml:lang="en-US" id="verboseLabel_emx_NumberOfEquityInstrumentsHeld_en-US">Number of equity instruments held</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEquityInstrumentsHeld" xlink:to="label_emx_NumberOfEquityInstrumentsHeld" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfEquityInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NumberOfEquityInstrumentsHeld" xml:lang="en-US" id="documentation_emx_NumberOfEquityInstrumentsHeld_en-US">Number of equity instruments held</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xml:lang="en-US" id="terseLabel_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_en-US">Proportion of ownership interest in subsidiary</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_OptionAgreementInterest" xml:lang="en-US" id="terseLabel_emx_OptionAgreementInterest_en-US">Option agreement, interest</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnnualOptionPayment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_ProceedsFromAnnualOptionPayment" xml:lang="en-US" id="terseLabel_emx_ProceedsFromAnnualOptionPayment_en-US">Proceeds from annual option payment</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementExplorationExpendituresRequired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_OptionAgreementExplorationExpendituresRequired" xml:lang="en-US" id="terseLabel_emx_OptionAgreementExplorationExpendituresRequired_en-US">Option agreement, exploration expenditures required</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_NetSmelterReturnRoyalty" xml:lang="en-US" id="terseLabel_emx_NetSmelterReturnRoyalty_en-US">Net smelter return royalty</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_ProceedsFromSharePurchaseAgreement" xml:lang="en-US" id="terseLabel_emx_ProceedsFromSharePurchaseAgreement_en-US">Proceeds from share purchase agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GoldEquivalentOfProceedsReceived" xlink:label="GoldEquivalentOfProceedsReceived" xlink:title="GoldEquivalentOfProceedsReceived"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldEquivalentOfProceedsReceived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GoldEquivalentOfProceedsReceived" xml:lang="en-US" id="verboseLabel_emx_GoldEquivalentOfProceedsReceived_en-US">Gold equivalent of proceeds received (ounces)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoldEquivalentOfProceedsReceived" xlink:to="label_emx_GoldEquivalentOfProceedsReceived" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldEquivalentOfProceedsReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GoldEquivalentOfProceedsReceived" xml:lang="en-US" id="documentation_emx_GoldEquivalentOfProceedsReceived_en-US">Gold equivalent of proceeds received (ounces)</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xml:lang="en-US" id="label_ifrs-full_SignificantInvestmentsInSubsidiariesAxis_en-US">Subsidiaries [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="label_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SubsidiariesMember" xlink:label="SubsidiariesMember" xlink:title="SubsidiariesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_SubsidiariesMember" xml:lang="en-US" id="label_ifrs-full_SubsidiariesMember_en-US">Subsidiaries [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiariesMember" xlink:to="label_ifrs-full_SubsidiariesMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BullionMonarchMiningIncMember" xlink:label="BullionMonarchMiningIncMember" xlink:title="BullionMonarchMiningIncMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BullionMonarchMiningIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BullionMonarchMiningIncMember" xml:lang="en-US" id="label_emx_BullionMonarchMiningIncMember_en-US">Bullion Monarch Mining, Inc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BullionMonarchMiningIncMember" xlink:to="label_emx_BullionMonarchMiningIncMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BullionMonarchMiningIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BullionMonarchMiningIncMember" xml:lang="en-US" id="documentation_emx_BullionMonarchMiningIncMember_en-US">Bullion Monarch Mining, Inc</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EMXUSAServicesCorpMember" xlink:label="EMXUSAServicesCorpMember" xlink:title="EMXUSAServicesCorpMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXUSAServicesCorpMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EMXUSAServicesCorpMember" xml:lang="en-US" id="verboseLabel_emx_EMXUSAServicesCorpMember_en-US">EMX (USA) Services Corp. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EMXUSAServicesCorpMember" xlink:to="label_emx_EMXUSAServicesCorpMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXUSAServicesCorpMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EMXUSAServicesCorpMember" xml:lang="en-US" id="documentation_emx_EMXUSAServicesCorpMember_en-US">EMX (USA) Services Corp.</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_BroncoCreekExplorationIncMember" xlink:label="BroncoCreekExplorationIncMember" xlink:title="BroncoCreekExplorationIncMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_BroncoCreekExplorationIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_BroncoCreekExplorationIncMember" xml:lang="en-US" id="label_emx_BroncoCreekExplorationIncMember_en-US">Bronco Creek Exploration Inc. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BroncoCreekExplorationIncMember" xlink:to="label_emx_BroncoCreekExplorationIncMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_BroncoCreekExplorationIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_BroncoCreekExplorationIncMember" xml:lang="en-US" id="documentation_emx_BroncoCreekExplorationIncMember_en-US">Bronco Creek Exploration Inc.</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EurasiaMadencilikLtdSirketiMember" xlink:label="EurasiaMadencilikLtdSirketiMember" xlink:title="EurasiaMadencilikLtdSirketiMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasiaMadencilikLtdSirketiMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EurasiaMadencilikLtdSirketiMember" xml:lang="en-US" id="label_emx_EurasiaMadencilikLtdSirketiMember_en-US">Eurasia Madencilik Ltd. Sirketi [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EurasiaMadencilikLtdSirketiMember" xlink:to="label_emx_EurasiaMadencilikLtdSirketiMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasiaMadencilikLtdSirketiMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EurasiaMadencilikLtdSirketiMember" xml:lang="en-US" id="documentation_emx_EurasiaMadencilikLtdSirketiMember_en-US">Eurasia Madencilik Ltd. Sirketi</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AzurMadencilikLtdSirketiMember" xlink:label="AzurMadencilikLtdSirketiMember" xlink:title="AzurMadencilikLtdSirketiMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AzurMadencilikLtdSirketiMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AzurMadencilikLtdSirketiMember" xml:lang="en-US" id="label_emx_AzurMadencilikLtdSirketiMember_en-US">Azur Madencilik Ltd. Sirketi [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AzurMadencilikLtdSirketiMember" xlink:to="label_emx_AzurMadencilikLtdSirketiMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AzurMadencilikLtdSirketiMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AzurMadencilikLtdSirketiMember" xml:lang="en-US" id="documentation_emx_AzurMadencilikLtdSirketiMember_en-US">Azur Madencilik Ltd. Sirketi</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EurasianMineralsCooperatiefUAMember" xlink:label="EurasianMineralsCooperatiefUAMember" xlink:title="EurasianMineralsCooperatiefUAMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasianMineralsCooperatiefUAMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EurasianMineralsCooperatiefUAMember" xml:lang="en-US" id="verboseLabel_emx_EurasianMineralsCooperatiefUAMember_en-US">Eurasian Minerals Cooperatief U.A. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EurasianMineralsCooperatiefUAMember" xlink:to="label_emx_EurasianMineralsCooperatiefUAMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasianMineralsCooperatiefUAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EurasianMineralsCooperatiefUAMember" xml:lang="en-US" id="documentation_emx_EurasianMineralsCooperatiefUAMember_en-US">Eurasian Minerals Cooperatief U.A.</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EurasianMineralsSwedenABMember" xlink:label="EurasianMineralsSwedenABMember" xlink:title="EurasianMineralsSwedenABMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasianMineralsSwedenABMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EurasianMineralsSwedenABMember" xml:lang="en-US" id="verboseLabel_emx_EurasianMineralsSwedenABMember_en-US">Eurasian Minerals Sweden AB [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EurasianMineralsSwedenABMember" xlink:to="label_emx_EurasianMineralsSwedenABMember" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasianMineralsSwedenABMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EurasianMineralsSwedenABMember" xml:lang="en-US" id="documentation_emx_EurasianMineralsSwedenABMember_en-US">Eurasian Minerals Sweden AB</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EMXExplorationScandinaviaABMember" xlink:label="EMXExplorationScandinaviaABMember" xlink:title="EMXExplorationScandinaviaABMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXExplorationScandinaviaABMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EMXExplorationScandinaviaABMember" xml:lang="en-US" id="verboseLabel_emx_EMXExplorationScandinaviaABMember_en-US">EMX Exploration Scandinavia AB [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EMXExplorationScandinaviaABMember" xlink:to="label_emx_EMXExplorationScandinaviaABMember" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXExplorationScandinaviaABMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EMXExplorationScandinaviaABMember" xml:lang="en-US" id="documentation_emx_EMXExplorationScandinaviaABMember_en-US">EMX Exploration Scandinavia AB</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ViadRoyaltiesABMember" xlink:label="ViadRoyaltiesABMember" xlink:title="ViadRoyaltiesABMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ViadRoyaltiesABMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_ViadRoyaltiesABMember" xml:lang="en-US" id="verboseLabel_emx_ViadRoyaltiesABMember_en-US">Viad Royalties AB [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ViadRoyaltiesABMember" xlink:to="label_emx_ViadRoyaltiesABMember" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ViadRoyaltiesABMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ViadRoyaltiesABMember" xml:lang="en-US" id="documentation_emx_ViadRoyaltiesABMember_en-US">Viad Royalties AB</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_IekevareMineralsABMember" xlink:label="IekevareMineralsABMember" xlink:title="IekevareMineralsABMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_IekevareMineralsABMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_IekevareMineralsABMember" xml:lang="en-US" id="verboseLabel_emx_IekevareMineralsABMember_en-US">Iekevare Minerals AB [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IekevareMineralsABMember" xlink:to="label_emx_IekevareMineralsABMember" use="optional" order="10" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_IekevareMineralsABMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_IekevareMineralsABMember" xml:lang="en-US" id="documentation_emx_IekevareMineralsABMember_en-US">Iekevare Minerals AB</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_WaikatoGoldLimitedMember" xlink:label="WaikatoGoldLimitedMember" xlink:title="WaikatoGoldLimitedMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_WaikatoGoldLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_WaikatoGoldLimitedMember" xml:lang="en-US" id="label_emx_WaikatoGoldLimitedMember_en-US">Waikato Gold Limited [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WaikatoGoldLimitedMember" xlink:to="label_emx_WaikatoGoldLimitedMember" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_WaikatoGoldLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_WaikatoGoldLimitedMember" xml:lang="en-US" id="documentation_emx_WaikatoGoldLimitedMember_en-US">Waikato Gold Limited</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_EMXAustraliaPtyLtdMember" xlink:label="EMXAustraliaPtyLtdMember" xlink:title="EMXAustraliaPtyLtdMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXAustraliaPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_EMXAustraliaPtyLtdMember" xml:lang="en-US" id="verboseLabel_emx_EMXAustraliaPtyLtdMember_en-US">EMX Australia Pty Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EMXAustraliaPtyLtdMember" xlink:to="label_emx_EMXAustraliaPtyLtdMember" use="optional" order="12" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXAustraliaPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_EMXAustraliaPtyLtdMember" xml:lang="en-US" id="documentation_emx_EMXAustraliaPtyLtdMember_en-US">EMX Australia Pty Ltd.</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:label="FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:title="FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xml:lang="en-US" id="verboseLabel_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition_en-US">Financial assets at fair value through profit or loss, Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:to="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" xlink:label="FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" xlink:title="FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" xml:lang="en-US" id="negatedLabel_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss_en-US">Financial assets at fair value through profit or loss, Accumulated unrealised loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" xlink:to="label_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss" xml:lang="en-US" id="documentation_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss_en-US">Financial assets at fair value through profit or loss, Accumulated unrealised loss</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:label="FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:title="FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xml:lang="en-US" id="verboseLabel_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue_en-US">Financial assets at fair value through profit or loss, Fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:to="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FinancialAssetsAvailableForSaleCost" xlink:label="FinancialAssetsAvailableForSaleCost" xlink:title="FinancialAssetsAvailableForSaleCost"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAvailableForSaleCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_FinancialAssetsAvailableForSaleCost" xml:lang="en-US" id="verboseLabel_emx_FinancialAssetsAvailableForSaleCost_en-US">Financial assets available-for-sale, Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAvailableForSaleCost" xlink:to="label_emx_FinancialAssetsAvailableForSaleCost" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAvailableForSaleCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FinancialAssetsAvailableForSaleCost" xml:lang="en-US" id="documentation_emx_FinancialAssetsAvailableForSaleCost_en-US">Financial assets available-for-sale, Cost</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xlink:label="FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xlink:title="FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xml:lang="en-US" id="negatedLabel_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss_en-US">Financial assets available-for-sale, Accumulated unrealised loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xlink:to="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xml:lang="en-US" id="documentation_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss_en-US">Financial assets available-for-sale, Accumulated unrealised loss</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsAvailableforsale" xlink:label="FinancialAssetsAvailableforsale" xlink:title="FinancialAssetsAvailableforsale"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinancialAssetsAvailableforsale" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_FinancialAssetsAvailableforsale" xml:lang="en-US" id="verboseLabel_ifrs-full_FinancialAssetsAvailableforsale_en-US">Financial assets available-for-sale, Fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAvailableforsale" xlink:to="label_ifrs-full_FinancialAssetsAvailableforsale" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_InvestmentsAtCost" xlink:label="InvestmentsAtCost" xlink:title="InvestmentsAtCost"/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestmentsAtCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_InvestmentsAtCost" xml:lang="en-US" id="verboseLabel_emx_InvestmentsAtCost_en-US">Investments, Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAtCost" xlink:to="label_emx_InvestmentsAtCost" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestmentsAtCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_InvestmentsAtCost" xml:lang="en-US" id="documentation_emx_InvestmentsAtCost_en-US">Investments, Cost</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_InvestmentsAccumulatedUnrealisedLoss" xlink:label="InvestmentsAccumulatedUnrealisedLoss" xlink:title="InvestmentsAccumulatedUnrealisedLoss"/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestmentsAccumulatedUnrealisedLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_InvestmentsAccumulatedUnrealisedLoss" xml:lang="en-US" id="negatedLabel_emx_InvestmentsAccumulatedUnrealisedLoss_en-US">Investments, Accumulated unrealised loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAccumulatedUnrealisedLoss" xlink:to="label_emx_InvestmentsAccumulatedUnrealisedLoss" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestmentsAccumulatedUnrealisedLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_InvestmentsAccumulatedUnrealisedLoss" xml:lang="en-US" id="documentation_emx_InvestmentsAccumulatedUnrealisedLoss_en-US">Investments, Accumulated unrealised loss</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_InvestmentsFairValue" xlink:label="InvestmentsFairValue" xlink:title="InvestmentsFairValue"/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestmentsFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_InvestmentsFairValue" xml:lang="en-US" id="verboseLabel_emx_InvestmentsFairValue_en-US">Investments, Fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsFairValue" xlink:to="label_emx_InvestmentsFairValue" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_InvestmentsFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_InvestmentsFairValue" xml:lang="en-US" id="documentation_emx_InvestmentsFairValue_en-US">Investments, Fair value</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfReceivablesAxis" xlink:label="ComponentsOfReceivablesAxis" xlink:title="ComponentsOfReceivablesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfReceivablesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfReceivablesAxis" xml:lang="en-US" id="label_emx_ComponentsOfReceivablesAxis_en-US">Components of receivables [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfReceivablesAxis" xlink:to="label_emx_ComponentsOfReceivablesAxis" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfReceivablesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfReceivablesAxis" xml:lang="en-US" id="documentation_emx_ComponentsOfReceivablesAxis_en-US">Components of receivables</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfReceivablesDomain" xlink:label="ComponentsOfReceivablesDomain" xlink:title="ComponentsOfReceivablesDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfReceivablesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfReceivablesDomain" xml:lang="en-US" id="label_emx_ComponentsOfReceivablesDomain_en-US">Components of receivables [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfReceivablesDomain" xlink:to="label_emx_ComponentsOfReceivablesDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfReceivablesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfReceivablesDomain" xml:lang="en-US" id="documentation_emx_ComponentsOfReceivablesDomain_en-US">Components of receivables</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SaleOfAkarcaMember" xlink:label="SaleOfAkarcaMember" xlink:title="SaleOfAkarcaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SaleOfAkarcaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SaleOfAkarcaMember" xml:lang="en-US" id="label_emx_SaleOfAkarcaMember_en-US">Sale of Akarca [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfAkarcaMember" xlink:to="label_emx_SaleOfAkarcaMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SaleOfAkarcaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SaleOfAkarcaMember" xml:lang="en-US" id="documentation_emx_SaleOfAkarcaMember_en-US">Sale of Akarca</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyIncomeReceivableMember" xlink:label="RoyaltyIncomeReceivableMember" xlink:title="RoyaltyIncomeReceivableMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyIncomeReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RoyaltyIncomeReceivableMember" xml:lang="en-US" id="label_emx_RoyaltyIncomeReceivableMember_en-US">Royalty income receivable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyIncomeReceivableMember" xlink:to="label_emx_RoyaltyIncomeReceivableMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyIncomeReceivableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyIncomeReceivableMember" xml:lang="en-US" id="documentation_emx_RoyaltyIncomeReceivableMember_en-US">Royalty income receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RefundableTaxesMember" xlink:label="RefundableTaxesMember" xlink:title="RefundableTaxesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RefundableTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RefundableTaxesMember" xml:lang="en-US" id="label_emx_RefundableTaxesMember_en-US">Refundable taxes [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RefundableTaxesMember" xlink:to="label_emx_RefundableTaxesMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RefundableTaxesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RefundableTaxesMember" xml:lang="en-US" id="documentation_emx_RefundableTaxesMember_en-US">Refundable taxes</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RecoverableExplorationExpendituresAndAdvancesMember" xlink:label="RecoverableExplorationExpendituresAndAdvancesMember" xlink:title="RecoverableExplorationExpendituresAndAdvancesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RecoverableExplorationExpendituresAndAdvancesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RecoverableExplorationExpendituresAndAdvancesMember" xml:lang="en-US" id="label_emx_RecoverableExplorationExpendituresAndAdvancesMember_en-US">Recoverable exploration expenditures and advances [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RecoverableExplorationExpendituresAndAdvancesMember" xlink:to="label_emx_RecoverableExplorationExpendituresAndAdvancesMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RecoverableExplorationExpendituresAndAdvancesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RecoverableExplorationExpendituresAndAdvancesMember" xml:lang="en-US" id="documentation_emx_RecoverableExplorationExpendituresAndAdvancesMember_en-US">Recoverable exploration expenditures and advances</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OtherReceivablesMember" xlink:label="OtherReceivablesMember" xlink:title="OtherReceivablesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OtherReceivablesMember" xml:lang="en-US" id="verboseLabel_emx_OtherReceivablesMember_en-US">Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherReceivablesMember" xlink:to="label_emx_OtherReceivablesMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OtherReceivablesMember" xml:lang="en-US" id="documentation_emx_OtherReceivablesMember_en-US">Other receivables</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentReceivables" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_NoncurrentReceivables" xml:lang="en-US" id="negatedLabel_ifrs-full_NoncurrentReceivables_en-US">Less: Long term portion</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_TradeAndOtherCurrentReceivables" xml:lang="en-US" id="terseLabel_ifrs-full_TradeAndOtherCurrentReceivables_en-US">Receivables (Current)</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountsDenominatedInForeignCurrenciesAxis" xlink:label="AmountsDenominatedInForeignCurrenciesAxis" xlink:title="AmountsDenominatedInForeignCurrenciesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountsDenominatedInForeignCurrenciesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AmountsDenominatedInForeignCurrenciesAxis" xml:lang="en-US" id="label_emx_AmountsDenominatedInForeignCurrenciesAxis_en-US">Amounts denominated in foreign currencies [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountsDenominatedInForeignCurrenciesAxis" xlink:to="label_emx_AmountsDenominatedInForeignCurrenciesAxis" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountsDenominatedInForeignCurrenciesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountsDenominatedInForeignCurrenciesAxis" xml:lang="en-US" id="documentation_emx_AmountsDenominatedInForeignCurrenciesAxis_en-US">Amounts denominated in foreign currencies</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountsDenominatedInForeignCurrenciesDomain" xlink:label="AmountsDenominatedInForeignCurrenciesDomain" xlink:title="AmountsDenominatedInForeignCurrenciesDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountsDenominatedInForeignCurrenciesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AmountsDenominatedInForeignCurrenciesDomain" xml:lang="en-US" id="label_emx_AmountsDenominatedInForeignCurrenciesDomain_en-US">Amounts denominated in foreign currencies [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountsDenominatedInForeignCurrenciesDomain" xlink:to="label_emx_AmountsDenominatedInForeignCurrenciesDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountsDenominatedInForeignCurrenciesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountsDenominatedInForeignCurrenciesDomain" xml:lang="en-US" id="documentation_emx_AmountsDenominatedInForeignCurrenciesDomain_en-US">Amounts denominated in foreign currencies</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_CAD" xlink:label="CAD" xlink:title="CAD"/>
    <link:label xlink:type="resource" xlink:label="label_currency_CAD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_currency_CAD" xml:lang="en-US" id="label_currency_CAD_en-US">Canadian Dollars [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CAD" xlink:to="label_currency_CAD" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_USD" xlink:label="USD" xlink:title="USD"/>
    <link:label xlink:type="resource" xlink:label="label_currency_USD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_currency_USD" xml:lang="en-US" id="label_currency_USD_en-US">US Dollars [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USD" xlink:to="label_currency_USD" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_TRY" xlink:label="TRY" xlink:title="TRY"/>
    <link:label xlink:type="resource" xlink:label="label_currency_TRY" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_currency_TRY" xml:lang="en-US" id="label_currency_TRY_en-US">Turkish Lira [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TRY" xlink:to="label_currency_TRY" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_SEK" xlink:label="SEK" xlink:title="SEK"/>
    <link:label xlink:type="resource" xlink:label="label_currency_SEK" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_currency_SEK" xml:lang="en-US" id="label_currency_SEK_en-US">Swedish Krona [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SEK" xlink:to="label_currency_SEK" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OtherCurrenciesMember" xlink:label="OtherCurrenciesMember" xlink:title="OtherCurrenciesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherCurrenciesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OtherCurrenciesMember" xml:lang="en-US" id="verboseLabel_emx_OtherCurrenciesMember_en-US">Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrenciesMember" xlink:to="label_emx_OtherCurrenciesMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherCurrenciesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OtherCurrenciesMember" xml:lang="en-US" id="documentation_emx_OtherCurrenciesMember_en-US">Other currencies</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComputerEquipmentMember" xlink:label="ComputerEquipmentMember" xlink:title="ComputerEquipmentMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ComputerEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ComputerEquipmentMember" xml:lang="en-US" id="label_ifrs-full_ComputerEquipmentMember_en-US">Computer [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputerEquipmentMember" xlink:to="label_ifrs-full_ComputerEquipmentMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OfficeEquipmentMember" xlink:label="OfficeEquipmentMember" xlink:title="OfficeEquipmentMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OfficeEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_OfficeEquipmentMember" xml:lang="en-US" id="label_ifrs-full_OfficeEquipmentMember_en-US">Office [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OfficeEquipmentMember" xlink:to="label_ifrs-full_OfficeEquipmentMember" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_VehiclesMember" xlink:label="VehiclesMember" xlink:title="VehiclesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_VehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_VehiclesMember" xml:lang="en-US" id="label_ifrs-full_VehiclesMember_en-US">Vehicles [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VehiclesMember" xlink:to="label_ifrs-full_VehiclesMember" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BuildingsMember" xlink:label="BuildingsMember" xlink:title="BuildingsMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_BuildingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_BuildingsMember" xml:lang="en-US" id="label_ifrs-full_BuildingsMember_en-US">Building [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingsMember" xlink:to="label_ifrs-full_BuildingsMember" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LandMember" xlink:label="LandMember" xlink:title="LandMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_LandMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_LandMember" xml:lang="en-US" id="label_ifrs-full_LandMember_en-US">Land [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandMember" xlink:to="label_ifrs-full_LandMember" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xml:lang="en-US" id="label_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="label_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CarryingAmountMember" xlink:label="CarryingAmountMember" xlink:title="CarryingAmountMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CarryingAmountMember" xml:lang="en-US" id="label_ifrs-full_CarryingAmountMember_en-US">Carrying amount [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountMember" xlink:to="label_ifrs-full_CarryingAmountMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="GrossCarryingAmountMember" xlink:title="GrossCarryingAmountMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_GrossCarryingAmountMember" xml:lang="en-US" id="label_ifrs-full_GrossCarryingAmountMember_en-US">Cost [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossCarryingAmountMember" xlink:to="label_ifrs-full_GrossCarryingAmountMember" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:label="AccumulatedDepreciationAndAmortisationMember" xlink:title="AccumulatedDepreciationAndAmortisationMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xml:lang="en-US" id="label_ifrs-full_AccumulatedDepreciationAndAmortisationMember_en-US">Accumulated depreciation [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAndAmortisationMember" xlink:to="label_ifrs-full_AccumulatedDepreciationAndAmortisationMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_PropertyPlantAndEquipment" xml:lang="en-US" id="periodStartLabel_ifrs-full_PropertyPlantAndEquipment_en-US">Property, plant and equipment at beginning of period</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xml:lang="en-US" id="verboseLabel_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_en-US">Additions</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:label="DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:title="DisposalsAndRetirementsPropertyPlantAndEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xml:lang="en-US" id="negatedLabel_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment_en-US">Disposals and derecognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:to="label_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_PropertyPlantAndEquipment" xml:lang="en-US" id="periodEndLabel_ifrs-full_PropertyPlantAndEquipment_en-US">Property, plant and equipment at end of period</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_Assets" xml:lang="en-US" id="terseLabel_ifrs-full_Assets_en-US">Aggregate assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_Liabilities" xml:lang="en-US" id="negatedLabel_ifrs-full_Liabilities_en-US">Aggregate liabilities</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/negativeTerseLabel" xlink:title="label_ifrs-full_ProfitLoss" xml:lang="en-US" id="negativeTerseLabel_ifrs-full_ProfitLoss_en-US">Loss for the year</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ProportionOfOwnershipInterestInAssociate" xml:lang="en-US" id="terseLabel_ifrs-full_ProportionOfOwnershipInterestInAssociate_en-US">The Company's ownership %</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xml:lang="en-US" id="terseLabel_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_en-US">The Company's share of loss for the year</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AsiaPacificMember" xlink:label="AsiaPacificMember" xlink:title="AsiaPacificMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AsiaPacificMember" xml:lang="en-US" id="label_emx_AsiaPacificMember_en-US">Asia Pacific [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AsiaPacificMember" xlink:to="label_emx_AsiaPacificMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AsiaPacificMember" xml:lang="en-US" id="documentation_emx_AsiaPacificMember_en-US">Asia Pacific</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SwedenVariousMember" xlink:label="SwedenVariousMember" xlink:title="SwedenVariousMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SwedenVariousMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_SwedenVariousMember" xml:lang="en-US" id="verboseLabel_emx_SwedenVariousMember_en-US">Sweden - Various [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SwedenVariousMember" xlink:to="label_emx_SwedenVariousMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SwedenVariousMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SwedenVariousMember" xml:lang="en-US" id="documentation_emx_SwedenVariousMember_en-US">Sweden - Various</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SwedenViadRoyaltiesMember" xlink:label="SwedenViadRoyaltiesMember" xlink:title="SwedenViadRoyaltiesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SwedenViadRoyaltiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_SwedenViadRoyaltiesMember" xml:lang="en-US" id="verboseLabel_emx_SwedenViadRoyaltiesMember_en-US">Sweden - Viad royalties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SwedenViadRoyaltiesMember" xlink:to="label_emx_SwedenViadRoyaltiesMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SwedenViadRoyaltiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SwedenViadRoyaltiesMember" xml:lang="en-US" id="documentation_emx_SwedenViadRoyaltiesMember_en-US">Sweden - Viad royalties</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TurkeyAlankoyMember" xlink:label="TurkeyAlankoyMember" xlink:title="TurkeyAlankoyMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyAlankoyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_TurkeyAlankoyMember" xml:lang="en-US" id="verboseLabel_emx_TurkeyAlankoyMember_en-US">Turkey - Alankoy [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TurkeyAlankoyMember" xlink:to="label_emx_TurkeyAlankoyMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyAlankoyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TurkeyAlankoyMember" xml:lang="en-US" id="documentation_emx_TurkeyAlankoyMember_en-US">Turkey - Alankoy</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TurkeySisortaMember" xlink:label="TurkeySisortaMember" xlink:title="TurkeySisortaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeySisortaMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_TurkeySisortaMember" xml:lang="en-US" id="verboseLabel_emx_TurkeySisortaMember_en-US">Turkey - Sisorta [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TurkeySisortaMember" xlink:to="label_emx_TurkeySisortaMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeySisortaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TurkeySisortaMember" xml:lang="en-US" id="documentation_emx_TurkeySisortaMember_en-US">Turkey - Sisorta</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TurkeyTrabMember" xlink:label="TurkeyTrabMember" xlink:title="TurkeyTrabMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyTrabMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_TurkeyTrabMember" xml:lang="en-US" id="verboseLabel_emx_TurkeyTrabMember_en-US">Turkey - Trab [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TurkeyTrabMember" xlink:to="label_emx_TurkeyTrabMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyTrabMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TurkeyTrabMember" xml:lang="en-US" id="documentation_emx_TurkeyTrabMember_en-US">Turkey - Trab</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_USASuperWestArizonaMember" xlink:label="USASuperWestArizonaMember" xlink:title="USASuperWestArizonaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_USASuperWestArizonaMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_USASuperWestArizonaMember" xml:lang="en-US" id="verboseLabel_emx_USASuperWestArizonaMember_en-US">USA - Super West, Arizona [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USASuperWestArizonaMember" xlink:to="label_emx_USASuperWestArizonaMember" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_USASuperWestArizonaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_USASuperWestArizonaMember" xml:lang="en-US" id="documentation_emx_USASuperWestArizonaMember_en-US">USA - Super West, Arizona</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_USAYeringtonNevadaMember" xlink:label="USAYeringtonNevadaMember" xlink:title="USAYeringtonNevadaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAYeringtonNevadaMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_USAYeringtonNevadaMember" xml:lang="en-US" id="verboseLabel_emx_USAYeringtonNevadaMember_en-US">USA - Yerington, Nevada [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USAYeringtonNevadaMember" xlink:to="label_emx_USAYeringtonNevadaMember" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAYeringtonNevadaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_USAYeringtonNevadaMember" xml:lang="en-US" id="documentation_emx_USAYeringtonNevadaMember_en-US">USA - Yerington, Nevada</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="terseLabel_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Exploration and evaluation assets</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AsiaPacificNeavesvilleMember" xlink:label="AsiaPacificNeavesvilleMember" xlink:title="AsiaPacificNeavesvilleMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificNeavesvilleMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AsiaPacificNeavesvilleMember" xml:lang="en-US" id="verboseLabel_emx_AsiaPacificNeavesvilleMember_en-US">Asia Pacific - Neavesville [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AsiaPacificNeavesvilleMember" xlink:to="label_emx_AsiaPacificNeavesvilleMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificNeavesvilleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AsiaPacificNeavesvilleMember" xml:lang="en-US" id="documentation_emx_AsiaPacificNeavesvilleMember_en-US">Asia Pacific - Neavesville</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AsiaPacificNewZealandMember" xlink:label="AsiaPacificNewZealandMember" xlink:title="AsiaPacificNewZealandMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificNewZealandMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AsiaPacificNewZealandMember" xml:lang="en-US" id="verboseLabel_emx_AsiaPacificNewZealandMember_en-US">Asia Pacific - New Zealand [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AsiaPacificNewZealandMember" xlink:to="label_emx_AsiaPacificNewZealandMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificNewZealandMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AsiaPacificNewZealandMember" xml:lang="en-US" id="documentation_emx_AsiaPacificNewZealandMember_en-US">Asia Pacific - New Zealand</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AsiaPacificOtherMember" xlink:label="AsiaPacificOtherMember" xlink:title="AsiaPacificOtherMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificOtherMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AsiaPacificOtherMember" xml:lang="en-US" id="verboseLabel_emx_AsiaPacificOtherMember_en-US">Asia Pacific - Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AsiaPacificOtherMember" xlink:to="label_emx_AsiaPacificOtherMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificOtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AsiaPacificOtherMember" xml:lang="en-US" id="documentation_emx_AsiaPacificOtherMember_en-US">Asia Pacific - Other</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_AU" xlink:label="AU" xlink:title="AU"/>
    <link:label xlink:type="resource" xlink:label="label_country_AU" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_AU" xml:lang="en-US" id="label_country_AU_en-US">Australia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AU" xlink:to="label_country_AU" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CA" xlink:label="CA" xlink:title="CA"/>
    <link:label xlink:type="resource" xlink:label="label_country_CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_CA" xml:lang="en-US" id="label_country_CA_en-US">Canada [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CA" xlink:to="label_country_CA" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_GA" xlink:label="GA" xlink:title="GA"/>
    <link:label xlink:type="resource" xlink:label="label_stpr_GA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_stpr_GA" xml:lang="en-US" id="label_stpr_GA_en-US">Georgia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GA" xlink:to="label_stpr_GA" use="optional" order="7" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ScandinaviaMember" xlink:label="ScandinaviaMember" xlink:title="ScandinaviaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ScandinaviaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ScandinaviaMember" xml:lang="en-US" id="label_emx_ScandinaviaMember_en-US">Scandinavia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScandinaviaMember" xlink:to="label_emx_ScandinaviaMember" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ScandinaviaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ScandinaviaMember" xml:lang="en-US" id="documentation_emx_ScandinaviaMember_en-US">Scandinavia</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TurkeyAkarcaMember" xlink:label="TurkeyAkarcaMember" xlink:title="TurkeyAkarcaMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyAkarcaMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_TurkeyAkarcaMember" xml:lang="en-US" id="verboseLabel_emx_TurkeyAkarcaMember_en-US">Turkey - Akarca [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TurkeyAkarcaMember" xlink:to="label_emx_TurkeyAkarcaMember" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyAkarcaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TurkeyAkarcaMember" xml:lang="en-US" id="documentation_emx_TurkeyAkarcaMember_en-US">Turkey - Akarca</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TurkeyOtherMember" xlink:label="TurkeyOtherMember" xlink:title="TurkeyOtherMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyOtherMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_TurkeyOtherMember" xml:lang="en-US" id="verboseLabel_emx_TurkeyOtherMember_en-US">Turkey - Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TurkeyOtherMember" xlink:to="label_emx_TurkeyOtherMember" use="optional" order="18" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyOtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TurkeyOtherMember" xml:lang="en-US" id="documentation_emx_TurkeyOtherMember_en-US">Turkey - Other</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_TR" xlink:label="TR" xlink:title="TR"/>
    <link:label xlink:type="resource" xlink:label="label_country_TR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_TR" xml:lang="en-US" id="label_country_TR_en-US">Turkey [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TR" xlink:to="label_country_TR" use="optional" order="19" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_UsaAngloAmericanMember" xlink:label="UsaAngloAmericanMember" xlink:title="UsaAngloAmericanMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_UsaAngloAmericanMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_UsaAngloAmericanMember" xml:lang="en-US" id="verboseLabel_emx_UsaAngloAmericanMember_en-US">USA - Anglo American [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UsaAngloAmericanMember" xlink:to="label_emx_UsaAngloAmericanMember" use="optional" order="30" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_UsaAngloAmericanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_UsaAngloAmericanMember" xml:lang="en-US" id="documentation_emx_UsaAngloAmericanMember_en-US">USA - Anglo American</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_USADesertStarMember" xlink:label="USADesertStarMember" xlink:title="USADesertStarMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_USADesertStarMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_USADesertStarMember" xml:lang="en-US" id="verboseLabel_emx_USADesertStarMember_en-US">USA - Desert Star [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USADesertStarMember" xlink:to="label_emx_USADesertStarMember" use="optional" order="20" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_USADesertStarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_USADesertStarMember" xml:lang="en-US" id="documentation_emx_USADesertStarMember_en-US">USA - Desert Star</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_USAKennecottMember" xlink:label="USAKennecottMember" xlink:title="USAKennecottMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAKennecottMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_USAKennecottMember" xml:lang="en-US" id="verboseLabel_emx_USAKennecottMember_en-US">USA - Kennecott [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USAKennecottMember" xlink:to="label_emx_USAKennecottMember" use="optional" order="21" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAKennecottMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_USAKennecottMember" xml:lang="en-US" id="documentation_emx_USAKennecottMember_en-US">USA - Kennecott</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_USAValeMember" xlink:label="USAValeMember" xlink:title="USAValeMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAValeMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_USAValeMember" xml:lang="en-US" id="verboseLabel_emx_USAValeMember_en-US">USA - Vale [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USAValeMember" xlink:to="label_emx_USAValeMember" use="optional" order="24" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAValeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_USAValeMember" xml:lang="en-US" id="documentation_emx_USAValeMember_en-US">USA - Vale</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_USAOtherMember" xlink:label="USAOtherMember" xlink:title="USAOtherMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAOtherMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_USAOtherMember" xml:lang="en-US" id="verboseLabel_emx_USAOtherMember_en-US">USA - Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USAOtherMember" xlink:to="label_emx_USAOtherMember" use="optional" order="26" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_USAOtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_USAOtherMember" xml:lang="en-US" id="documentation_emx_USAOtherMember_en-US">USA - Other</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_US" xlink:label="US" xlink:title="US"/>
    <link:label xlink:type="resource" xlink:label="label_country_US" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_US" xml:lang="en-US" id="label_country_US_en-US">USA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="US" xlink:to="label_country_US" use="optional" order="27" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OtherExplorationAndEvaluationLocationsMember" xlink:label="OtherExplorationAndEvaluationLocationsMember" xlink:title="OtherExplorationAndEvaluationLocationsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherExplorationAndEvaluationLocationsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_OtherExplorationAndEvaluationLocationsMember" xml:lang="en-US" id="verboseLabel_emx_OtherExplorationAndEvaluationLocationsMember_en-US">Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExplorationAndEvaluationLocationsMember" xlink:to="label_emx_OtherExplorationAndEvaluationLocationsMember" use="optional" order="28" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherExplorationAndEvaluationLocationsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OtherExplorationAndEvaluationLocationsMember" xml:lang="en-US" id="documentation_emx_OtherExplorationAndEvaluationLocationsMember_en-US">Other exploration and evaluation locations</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis" xlink:label="ComponentsOfExplorationExpendituresAndRecoveriesAxis" xlink:title="ComponentsOfExplorationExpendituresAndRecoveriesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis" xml:lang="en-US" id="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis_en-US">Components of exploration expenditures and recoveries [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfExplorationExpendituresAndRecoveriesAxis" xlink:to="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis" xml:lang="en-US" id="documentation_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis_en-US">Components of exploration expenditures and recoveries</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain" xlink:label="ComponentsOfExplorationExpendituresAndRecoveriesDomain" xlink:title="ComponentsOfExplorationExpendituresAndRecoveriesDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain" xml:lang="en-US" id="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain_en-US">Components of exploration expenditures and recoveries [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfExplorationExpendituresAndRecoveriesDomain" xlink:to="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain" xml:lang="en-US" id="documentation_emx_ComponentsOfExplorationExpendituresAndRecoveriesDomain_en-US">Components of exploration expenditures and recoveries</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AdministrationCostMember" xlink:label="AdministrationCostMember" xlink:title="AdministrationCostMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdministrationCostMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdministrationCostMember" xml:lang="en-US" id="label_emx_AdministrationCostMember_en-US">Administration Cost [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrationCostMember" xlink:to="label_emx_AdministrationCostMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AdministrationCostMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AdministrationCostMember" xml:lang="en-US" id="documentation_emx_AdministrationCostMember_en-US">Administration Cost</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AssaysMember" xlink:label="AssaysMember" xlink:title="AssaysMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AssaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AssaysMember" xml:lang="en-US" id="label_emx_AssaysMember_en-US">Assays [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssaysMember" xlink:to="label_emx_AssaysMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AssaysMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AssaysMember" xml:lang="en-US" id="documentation_emx_AssaysMember_en-US">Assays</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_DrillingTrenchingMember" xlink:label="DrillingTrenchingMember" xlink:title="DrillingTrenchingMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_DrillingTrenchingMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_DrillingTrenchingMember" xml:lang="en-US" id="verboseLabel_emx_DrillingTrenchingMember_en-US">Drilling / Trenching [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DrillingTrenchingMember" xlink:to="label_emx_DrillingTrenchingMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_DrillingTrenchingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_DrillingTrenchingMember" xml:lang="en-US" id="documentation_emx_DrillingTrenchingMember_en-US">Drilling / Trenching</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_LandAndLegalMember" xlink:label="LandAndLegalMember" xlink:title="LandAndLegalMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_LandAndLegalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_LandAndLegalMember" xml:lang="en-US" id="label_emx_LandAndLegalMember_en-US">Land and Legal [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAndLegalMember" xlink:to="label_emx_LandAndLegalMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_LandAndLegalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_LandAndLegalMember" xml:lang="en-US" id="documentation_emx_LandAndLegalMember_en-US">Land and Legal</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_LogisticsMember" xlink:label="LogisticsMember" xlink:title="LogisticsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_LogisticsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_LogisticsMember" xml:lang="en-US" id="label_emx_LogisticsMember_en-US">Logistics [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LogisticsMember" xlink:to="label_emx_LogisticsMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_LogisticsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_LogisticsMember" xml:lang="en-US" id="documentation_emx_LogisticsMember_en-US">Logistics</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PersonnelMember" xlink:label="PersonnelMember" xlink:title="PersonnelMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PersonnelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_PersonnelMember" xml:lang="en-US" id="label_emx_PersonnelMember_en-US">Personnel [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PersonnelMember" xlink:to="label_emx_PersonnelMember" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PersonnelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PersonnelMember" xml:lang="en-US" id="documentation_emx_PersonnelMember_en-US">Personnel</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PropertyCostMember" xlink:label="PropertyCostMember" xlink:title="PropertyCostMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PropertyCostMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_PropertyCostMember" xml:lang="en-US" id="label_emx_PropertyCostMember_en-US">Property Cost [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyCostMember" xlink:to="label_emx_PropertyCostMember" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PropertyCostMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PropertyCostMember" xml:lang="en-US" id="documentation_emx_PropertyCostMember_en-US">Property Cost</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ProfessionalServicesMember" xlink:label="ProfessionalServicesMember" xlink:title="ProfessionalServicesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProfessionalServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProfessionalServicesMember" xml:lang="en-US" id="label_emx_ProfessionalServicesMember_en-US">Professional Services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfessionalServicesMember" xlink:to="label_emx_ProfessionalServicesMember" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ProfessionalServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ProfessionalServicesMember" xml:lang="en-US" id="documentation_emx_ProfessionalServicesMember_en-US">Professional Services</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TechnicalStudiesMember" xlink:label="TechnicalStudiesMember" xlink:title="TechnicalStudiesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TechnicalStudiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_TechnicalStudiesMember" xml:lang="en-US" id="label_emx_TechnicalStudiesMember_en-US">Technical Studies [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TechnicalStudiesMember" xlink:to="label_emx_TechnicalStudiesMember" use="optional" order="11" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TechnicalStudiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TechnicalStudiesMember" xml:lang="en-US" id="documentation_emx_TechnicalStudiesMember_en-US">Technical Studies</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TravelMember" xlink:label="TravelMember" xlink:title="TravelMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TravelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_TravelMember" xml:lang="en-US" id="label_emx_TravelMember_en-US">Travel [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TravelMember" xlink:to="label_emx_TravelMember" use="optional" order="12" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TravelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TravelMember" xml:lang="en-US" id="documentation_emx_TravelMember_en-US">Travel</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RecoveriesMember" xlink:label="RecoveriesMember" xlink:title="RecoveriesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RecoveriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RecoveriesMember" xml:lang="en-US" id="label_emx_RecoveriesMember_en-US">Recoveries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RecoveriesMember" xlink:to="label_emx_RecoveriesMember" use="optional" order="13" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RecoveriesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RecoveriesMember" xml:lang="en-US" id="documentation_emx_RecoveriesMember_en-US">Recoveries</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OperatorFeesMember" xlink:label="OperatorFeesMember" xlink:title="OperatorFeesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OperatorFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OperatorFeesMember" xml:lang="en-US" id="label_emx_OperatorFeesMember_en-US">Operator fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatorFeesMember" xlink:to="label_emx_OperatorFeesMember" use="optional" order="14" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OperatorFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OperatorFeesMember" xml:lang="en-US" id="documentation_emx_OperatorFeesMember_en-US">Operator fees</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OptionPaymentsMember" xlink:label="OptionPaymentsMember" xlink:title="OptionPaymentsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionPaymentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OptionPaymentsMember" xml:lang="en-US" id="label_emx_OptionPaymentsMember_en-US">Option Payments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OptionPaymentsMember" xlink:to="label_emx_OptionPaymentsMember" use="optional" order="15" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionPaymentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OptionPaymentsMember" xml:lang="en-US" id="documentation_emx_OptionPaymentsMember_en-US">Option Payments</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OtherPropertyIncomeMember" xlink:label="OtherPropertyIncomeMember" xlink:title="OtherPropertyIncomeMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherPropertyIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OtherPropertyIncomeMember" xml:lang="en-US" id="label_emx_OtherPropertyIncomeMember_en-US">Other Property Income [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherPropertyIncomeMember" xlink:to="label_emx_OtherPropertyIncomeMember" use="optional" order="16" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherPropertyIncomeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OtherPropertyIncomeMember" xml:lang="en-US" id="documentation_emx_OtherPropertyIncomeMember_en-US">Other Property Income</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="terseLabel_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Expenditures</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="negatedTerseLabel_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Recoveries</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NetExplorationExpenditures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_NetExplorationExpenditures" xml:lang="en-US" id="terseLabel_emx_NetExplorationExpenditures_en-US">Net Expenditures</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_emx_RoyaltyInterest" xml:lang="en-US" id="periodStartLabel_emx_RoyaltyInterest_en-US">Royalty interest, beginning balance</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyInterestAcquisition" xlink:label="RoyaltyInterestAcquisition" xlink:title="RoyaltyInterestAcquisition"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_RoyaltyInterestAcquisition" xml:lang="en-US" id="verboseLabel_emx_RoyaltyInterestAcquisition_en-US">Acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyInterestAcquisition" xlink:to="label_emx_RoyaltyInterestAcquisition" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyInterestAcquisition" xml:lang="en-US" id="documentation_emx_RoyaltyInterestAcquisition_en-US">Acquisition</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyInterestDepletion" xlink:label="RoyaltyInterestDepletion" xlink:title="RoyaltyInterestDepletion"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestDepletion" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_RoyaltyInterestDepletion" xml:lang="en-US" id="negatedLabel_emx_RoyaltyInterestDepletion_en-US">Depletion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyInterestDepletion" xlink:to="label_emx_RoyaltyInterestDepletion" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestDepletion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyInterestDepletion" xml:lang="en-US" id="documentation_emx_RoyaltyInterestDepletion_en-US">Depletion</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyInterestImpairmentCharge" xlink:label="RoyaltyInterestImpairmentCharge" xlink:title="RoyaltyInterestImpairmentCharge"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestImpairmentCharge" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_RoyaltyInterestImpairmentCharge" xml:lang="en-US" id="negatedLabel_emx_RoyaltyInterestImpairmentCharge_en-US">Impairment charge</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyInterestImpairmentCharge" xlink:to="label_emx_RoyaltyInterestImpairmentCharge" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestImpairmentCharge" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyInterestImpairmentCharge" xml:lang="en-US" id="documentation_emx_RoyaltyInterestImpairmentCharge_en-US">Impairment charge</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyalInterestCumulativeTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_RoyalInterestCumulativeTranslationAdjustments" xml:lang="en-US" id="verboseLabel_emx_RoyalInterestCumulativeTranslationAdjustments_en-US">Cumulative translation adjustments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_emx_RoyaltyInterest" xml:lang="en-US" id="periodEndLabel_emx_RoyaltyInterest_en-US">Royalty interest, ending balance</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclamationBonds" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_ReclamationBonds" xml:lang="en-US" id="terseLabel_emx_ReclamationBonds_en-US">Reclamation bonds</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Goodwill" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_Goodwill" xml:lang="en-US" id="periodStartLabel_ifrs-full_Goodwill_en-US">Goodwill, beginning balance</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xml:lang="en-US" id="terseLabel_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_en-US">Impairment charge</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xml:lang="en-US" id="label_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill_en-US">Cumulative translation adjustment</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Goodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_Goodwill" xml:lang="en-US" id="periodEndLabel_ifrs-full_Goodwill_en-US">Goodwill, ending balance</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdvancesFromJointVenturePartners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_AdvancesFromJointVenturePartners" xml:lang="en-US" id="terseLabel_emx_AdvancesFromJointVenturePartners_en-US">Advances from joint venture partners</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOutstandingShareOptions" xlink:label="NumberOfOutstandingShareOptions" xlink:title="NumberOfOutstandingShareOptions"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_NumberOfOutstandingShareOptions" xml:lang="en-US" id="periodStartLabel_ifrs-full_NumberOfOutstandingShareOptions_en-US">Number of share options outstanding in share-based payment arrangement at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOutstandingShareOptions" xlink:to="label_ifrs-full_NumberOfOutstandingShareOptions" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="periodStartLabel_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsGrantedInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_en-US">Number of share options granted in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options granted in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsExercisedInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xml:lang="en-US" id="negatedLabel_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_en-US">Number of share options exercised in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" use="optional" order="5" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options exercised in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" use="optional" order="6" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsExpiredInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="negatedLabel_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_en-US">Number of share options expired in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" use="optional" order="7" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options expired in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_NumberOfOutstandingShareOptions" xml:lang="en-US" id="periodEndLabel_ifrs-full_NumberOfOutstandingShareOptions_en-US">Number of share options outstanding in share-based payment arrangement at end of period</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="periodEndLabel_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsExercisableInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_en-US">Number of share options exercisable in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" use="optional" order="11" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options exercisable in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" use="optional" order="12" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedJulyFiveTwoZeroOneTwoMember" xlink:label="GrantedJulyFiveTwoZeroOneTwoMember" xlink:title="GrantedJulyFiveTwoZeroOneTwoMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJulyFiveTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedJulyFiveTwoZeroOneTwoMember" xml:lang="en-US" id="verboseLabel_emx_GrantedJulyFiveTwoZeroOneTwoMember_en-US">Granted July 5, 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedJulyFiveTwoZeroOneTwoMember" xlink:to="label_emx_GrantedJulyFiveTwoZeroOneTwoMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJulyFiveTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedJulyFiveTwoZeroOneTwoMember" xml:lang="en-US" id="documentation_emx_GrantedJulyFiveTwoZeroOneTwoMember_en-US">Granted July 5, 2012</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" xlink:label="GrantedAugustTwoTwoTwoZeroOneTwoMember" xlink:title="GrantedAugustTwoTwoTwoZeroOneTwoMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" xml:lang="en-US" id="verboseLabel_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember_en-US">Granted August 22, 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedAugustTwoTwoTwoZeroOneTwoMember" xlink:to="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" xml:lang="en-US" id="documentation_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember_en-US">Granted August 22, 2012</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedOctoberOneSixTwoZeroOneTwoMember" xlink:label="GrantedOctoberOneSixTwoZeroOneTwoMember" xlink:title="GrantedOctoberOneSixTwoZeroOneTwoMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember" xml:lang="en-US" id="verboseLabel_emx_GrantedOctoberOneSixTwoZeroOneTwoMember_en-US">Granted October 16, 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedOctoberOneSixTwoZeroOneTwoMember" xlink:to="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember" xml:lang="en-US" id="documentation_emx_GrantedOctoberOneSixTwoZeroOneTwoMember_en-US">Granted October 16, 2012</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedAprilTwoFiveTwoZeroOneFourMember" xlink:label="GrantedAprilTwoFiveTwoZeroOneFourMember" xlink:title="GrantedAprilTwoFiveTwoZeroOneFourMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember" xml:lang="en-US" id="verboseLabel_emx_GrantedAprilTwoFiveTwoZeroOneFourMember_en-US">Granted April 25, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedAprilTwoFiveTwoZeroOneFourMember" xlink:to="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember" xml:lang="en-US" id="documentation_emx_GrantedAprilTwoFiveTwoZeroOneFourMember_en-US">Granted April 25, 2014</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedJuneTwoSixTwoZeroOneFourMember" xlink:label="GrantedJuneTwoSixTwoZeroOneFourMember" xlink:title="GrantedJuneTwoSixTwoZeroOneFourMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember" xml:lang="en-US" id="verboseLabel_emx_GrantedJuneTwoSixTwoZeroOneFourMember_en-US">Granted June 26, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedJuneTwoSixTwoZeroOneFourMember" xlink:to="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember" xml:lang="en-US" id="documentation_emx_GrantedJuneTwoSixTwoZeroOneFourMember_en-US">Granted June 26, 2014</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" xlink:label="GrantedDecemberTwoTwoTwoZeroOneFourMember" xlink:title="GrantedDecemberTwoTwoTwoZeroOneFourMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" xml:lang="en-US" id="verboseLabel_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember_en-US">Granted December 22, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedDecemberTwoTwoTwoZeroOneFourMember" xlink:to="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" xml:lang="en-US" id="documentation_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember_en-US">Granted December 22, 2014</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedJuneEightTwoZeroOneFiveMember" xlink:label="GrantedJuneEightTwoZeroOneFiveMember" xlink:title="GrantedJuneEightTwoZeroOneFiveMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJuneEightTwoZeroOneFiveMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedJuneEightTwoZeroOneFiveMember" xml:lang="en-US" id="verboseLabel_emx_GrantedJuneEightTwoZeroOneFiveMember_en-US">Granted June 8, 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedJuneEightTwoZeroOneFiveMember" xlink:to="label_emx_GrantedJuneEightTwoZeroOneFiveMember" use="optional" order="8" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJuneEightTwoZeroOneFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedJuneEightTwoZeroOneFiveMember" xml:lang="en-US" id="documentation_emx_GrantedJuneEightTwoZeroOneFiveMember_en-US">Granted June 8, 2015</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GrantedOctoberOneEightTwoZeroOneSixMember" xlink:label="GrantedOctoberOneEightTwoZeroOneSixMember" xlink:title="GrantedOctoberOneEightTwoZeroOneSixMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember" xml:lang="en-US" id="verboseLabel_emx_GrantedOctoberOneEightTwoZeroOneSixMember_en-US">Granted October 18, 2016 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantedOctoberOneEightTwoZeroOneSixMember" xlink:to="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember" use="optional" order="9" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember" xml:lang="en-US" id="documentation_emx_GrantedOctoberOneEightTwoZeroOneSixMember_en-US">Granted October 18, 2016</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xml:lang="en-US" id="verboseLabel_emx_GrantedAugustTwoEightTwoZeroOneSevenMember_en-US">Granted August 28, 2017 [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_NumberOfOutstandingShareOptions" xml:lang="en-US" id="verboseLabel_ifrs-full_NumberOfOutstandingShareOptions_en-US">Number of share options outstanding in share-based payment arrangement</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExercisePriceOfOutstandingShareOptions" xlink:label="ExercisePriceOfOutstandingShareOptions" xlink:title="ExercisePriceOfOutstandingShareOptions"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExercisePriceOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ExercisePriceOfOutstandingShareOptions" xml:lang="en-US" id="verboseLabel_ifrs-full_ExercisePriceOfOutstandingShareOptions_en-US">Exercise price of outstanding share options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceOfOutstandingShareOptions" xlink:to="label_ifrs-full_ExercisePriceOfOutstandingShareOptions" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:label="NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:title="NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="periodStartLabel_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_en-US">Restricted share units, beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:label="NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:title="NumberOfInstrumentsOtherEquityInstrumentsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xml:lang="en-US" id="verboseLabel_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted_en-US">Granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:to="label_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xlink:label="NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xlink:title="NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xml:lang="en-US" id="negatedLabel_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_en-US">Vested</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" xlink:label="NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" xlink:title="NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="negatedLabel_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_en-US">Expired/Cancelled</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" xlink:to="label_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="periodEndLabel_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_en-US">Restricted share units, end of period</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SharesIssuedForServicesMember" xlink:label="SharesIssuedForServicesMember" xlink:title="SharesIssuedForServicesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedForServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SharesIssuedForServicesMember" xml:lang="en-US" id="label_emx_SharesIssuedForServicesMember_en-US">Shares issued for services [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesIssuedForServicesMember" xlink:to="label_emx_SharesIssuedForServicesMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedForServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SharesIssuedForServicesMember" xml:lang="en-US" id="documentation_emx_SharesIssuedForServicesMember_en-US">Shares issued for services</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CommitmentToIssueBonusSharesMember" xlink:label="CommitmentToIssueBonusSharesMember" xlink:title="CommitmentToIssueBonusSharesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommitmentToIssueBonusSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CommitmentToIssueBonusSharesMember" xml:lang="en-US" id="label_emx_CommitmentToIssueBonusSharesMember_en-US">Commitment to issue bonus shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentToIssueBonusSharesMember" xlink:to="label_emx_CommitmentToIssueBonusSharesMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CommitmentToIssueBonusSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CommitmentToIssueBonusSharesMember" xml:lang="en-US" id="documentation_emx_CommitmentToIssueBonusSharesMember_en-US">Commitment to issue bonus shares</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FairValueOfStockOptionsGrantedMember" xlink:label="FairValueOfStockOptionsGrantedMember" xlink:title="FairValueOfStockOptionsGrantedMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FairValueOfStockOptionsGrantedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FairValueOfStockOptionsGrantedMember" xml:lang="en-US" id="label_emx_FairValueOfStockOptionsGrantedMember_en-US">Fair value of stock options granted [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfStockOptionsGrantedMember" xlink:to="label_emx_FairValueOfStockOptionsGrantedMember" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FairValueOfStockOptionsGrantedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FairValueOfStockOptionsGrantedMember" xml:lang="en-US" id="documentation_emx_FairValueOfStockOptionsGrantedMember_en-US">Fair value of stock options granted</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfExpensesAxis" xlink:label="ComponentsOfExpensesAxis" xlink:title="ComponentsOfExpensesAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExpensesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfExpensesAxis" xml:lang="en-US" id="label_emx_ComponentsOfExpensesAxis_en-US">Components of expenses [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfExpensesAxis" xlink:to="label_emx_ComponentsOfExpensesAxis" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExpensesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfExpensesAxis" xml:lang="en-US" id="documentation_emx_ComponentsOfExpensesAxis_en-US">Components of expenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ComponentsOfExpensesDomain" xlink:label="ComponentsOfExpensesDomain" xlink:title="ComponentsOfExpensesDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExpensesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ComponentsOfExpensesDomain" xml:lang="en-US" id="label_emx_ComponentsOfExpensesDomain_en-US">Components of expenses [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfExpensesDomain" xlink:to="label_emx_ComponentsOfExpensesDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ComponentsOfExpensesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ComponentsOfExpensesDomain" xml:lang="en-US" id="documentation_emx_ComponentsOfExpensesDomain_en-US">Components of expenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_GeneralAndAdministrativeExpensesMember" xlink:label="GeneralAndAdministrativeExpensesMember" xlink:title="GeneralAndAdministrativeExpensesMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_GeneralAndAdministrativeExpensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GeneralAndAdministrativeExpensesMember" xml:lang="en-US" id="label_emx_GeneralAndAdministrativeExpensesMember_en-US">General and Administrative Expenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpensesMember" xlink:to="label_emx_GeneralAndAdministrativeExpensesMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_GeneralAndAdministrativeExpensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_GeneralAndAdministrativeExpensesMember" xml:lang="en-US" id="documentation_emx_GeneralAndAdministrativeExpensesMember_en-US">General and Administrative Expenses</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ExplorationExpendituresMember" xlink:label="ExplorationExpendituresMember" xlink:title="ExplorationExpendituresMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationExpendituresMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ExplorationExpendituresMember" xml:lang="en-US" id="label_emx_ExplorationExpendituresMember_en-US">Exploration Expenditures [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplorationExpendituresMember" xlink:to="label_emx_ExplorationExpendituresMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationExpendituresMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ExplorationExpendituresMember" xml:lang="en-US" id="documentation_emx_ExplorationExpendituresMember_en-US">Exploration Expenditures</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ShareIssueRelatedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ShareIssueRelatedCost" xml:lang="en-US" id="verboseLabel_ifrs-full_ShareIssueRelatedCost_en-US">Share-based Payments</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:label="DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:title="DescriptionOfRiskFreeInterestRateShareOptionsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xml:lang="en-US" id="verboseLabel_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_en-US">Risk free interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="label_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:label="DescriptionOfOptionLifeShareOptionsGranted" xlink:title="DescriptionOfOptionLifeShareOptionsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xml:lang="en-US" id="verboseLabel_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_en-US">Expected life (years)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfOptionLifeShareOptionsGranted" xlink:to="label_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:label="DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:title="DescriptionOfExpectedVolatilityShareOptionsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xml:lang="en-US" id="verboseLabel_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_en-US">Expected volatility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="label_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpectedDividendShareOptionsGranted" xlink:label="ExpectedDividendShareOptionsGranted" xlink:title="ExpectedDividendShareOptionsGranted"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExpectedDividendShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ExpectedDividendShareOptionsGranted" xml:lang="en-US" id="verboseLabel_ifrs-full_ExpectedDividendShareOptionsGranted_en-US">Dividend yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDividendShareOptionsGranted" xlink:to="label_ifrs-full_ExpectedDividendShareOptionsGranted" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NumberOfOutstandingWarrants" xlink:label="NumberOfOutstandingWarrants" xlink:title="NumberOfOutstandingWarrants"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfOutstandingWarrants" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_emx_NumberOfOutstandingWarrants" xml:lang="en-US" id="periodStartLabel_emx_NumberOfOutstandingWarrants_en-US">Number of warrants outstanding in share-based payment arrangement at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOutstandingWarrants" xlink:to="label_emx_NumberOfOutstandingWarrants" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfOutstandingWarrants" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NumberOfOutstandingWarrants" xml:lang="en-US" id="documentation_emx_NumberOfOutstandingWarrants_en-US">Number of warrants outstanding in share-based payment arrangement at beginning of period</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="periodStartLabel_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement_en-US">Weighted average exercise price of warrants outstanding in share-based payment arrangement at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:to="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="documentation_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement_en-US">Weighted average exercise price of warrants outstanding in share-based payment arrangement at beginning of period</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:label="NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:title="NumberOfWarrantsExpiredInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="negatedLabel_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement_en-US">Number of warrants expired in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:to="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="documentation_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement_en-US">Number of warrants expired in share-based payment arrangement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:label="WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:title="WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement_en-US">Weighted average exercise price of warrants expired in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:to="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="documentation_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement_en-US">Weighted average exercise price of warrants expired in share-based payment arrangement</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:label="NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:title="NumberOfWarrantsGrantedInSharebasedPaymentArrangement"/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="verboseLabel_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement_en-US">Number of warrants granted in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:to="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="documentation_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement_en-US">Number of warrants granted in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfOutstandingWarrants" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_emx_NumberOfOutstandingWarrants" xml:lang="en-US" id="periodEndLabel_emx_NumberOfOutstandingWarrants_en-US">Number of warrants outstanding in share-based payment arrangement at end of period</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="periodEndLabel_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement_en-US">Weighted average exercise price of warrants outstanding in share-based payment arrangement at end of period</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CategoriesOfWarrantsOutstandingAxis" xlink:label="CategoriesOfWarrantsOutstandingAxis" xlink:title="CategoriesOfWarrantsOutstandingAxis"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CategoriesOfWarrantsOutstandingAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CategoriesOfWarrantsOutstandingAxis" xml:lang="en-US" id="label_emx_CategoriesOfWarrantsOutstandingAxis_en-US">Categories of warrants outstanding [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfWarrantsOutstandingAxis" xlink:to="label_emx_CategoriesOfWarrantsOutstandingAxis" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CategoriesOfWarrantsOutstandingAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CategoriesOfWarrantsOutstandingAxis" xml:lang="en-US" id="documentation_emx_CategoriesOfWarrantsOutstandingAxis_en-US">Categories of warrants outstanding</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_CategoriesOfWarrantsOutstandingDomain" xlink:label="CategoriesOfWarrantsOutstandingDomain" xlink:title="CategoriesOfWarrantsOutstandingDomain"/>
    <link:label xlink:type="resource" xlink:label="label_emx_CategoriesOfWarrantsOutstandingDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CategoriesOfWarrantsOutstandingDomain" xml:lang="en-US" id="label_emx_CategoriesOfWarrantsOutstandingDomain_en-US">Categories of warrants outstanding [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfWarrantsOutstandingDomain" xlink:to="label_emx_CategoriesOfWarrantsOutstandingDomain" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_CategoriesOfWarrantsOutstandingDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_CategoriesOfWarrantsOutstandingDomain" xml:lang="en-US" id="documentation_emx_CategoriesOfWarrantsOutstandingDomain_en-US">Categories of warrants outstanding</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xlink:label="PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xlink:title="PrivatePlacementAprilOneTwoTwoZeroOneSevenMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xml:lang="en-US" id="verboseLabel_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember_en-US">Private placement, April 12, 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xlink:to="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xml:lang="en-US" id="documentation_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember_en-US">Private placement, April 12, 2017</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xlink:label="FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xlink:title="FindersWarrantsAprilOneTwoTwoZeroOneSevenMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xml:lang="en-US" id="verboseLabel_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember_en-US">Finders warrants, April 12, 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xlink:to="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xml:lang="en-US" id="documentation_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember_en-US">Finders warrants, April 12, 2017</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfOutstandingWarrants" xlink:role="http://www.xbrl.org/2003/role/zeroLabel" xlink:title="label_emx_NumberOfOutstandingWarrants" xml:lang="en-US" id="zeroLabel_emx_NumberOfOutstandingWarrants_en-US">Number of Warrants</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/zeroLabel" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="zeroLabel_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement_en-US">Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:title="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xml:lang="en-US" id="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_en-US">Temporary difference, unused tax losses and unused tax credits [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:title="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xml:lang="en-US" id="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_en-US">Temporary difference, unused tax losses and unused tax credits [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="label_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_RoyaltyInterestMember" xlink:label="RoyaltyInterestMember" xlink:title="RoyaltyInterestMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RoyaltyInterestMember" xml:lang="en-US" id="label_emx_RoyaltyInterestMember_en-US">Royalty interest [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RoyaltyInterestMember" xlink:to="label_emx_RoyaltyInterestMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_RoyaltyInterestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_RoyaltyInterestMember" xml:lang="en-US" id="documentation_emx_RoyaltyInterestMember_en-US">Royalty interest</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnusedTaxLossesMember" xlink:label="UnusedTaxLossesMember" xlink:title="UnusedTaxLossesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_UnusedTaxLossesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_UnusedTaxLossesMember" xml:lang="en-US" id="label_ifrs-full_UnusedTaxLossesMember_en-US">Tax loss carryforwards [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusedTaxLossesMember" xlink:to="label_ifrs-full_UnusedTaxLossesMember" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceMember" xlink:label="TemporaryDifferenceMember" xlink:title="TemporaryDifferenceMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TemporaryDifferenceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TemporaryDifferenceMember" xml:lang="en-US" id="label_ifrs-full_TemporaryDifferenceMember_en-US">Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferenceMember" xlink:to="label_ifrs-full_TemporaryDifferenceMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ifrs-full_DeferredTaxLiabilities" xml:lang="en-US" id="negatedLabel_ifrs-full_DeferredTaxLiabilities_en-US">Deferred income tax liability</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ShareIssueCostsMember" xlink:label="ShareIssueCostsMember" xlink:title="ShareIssueCostsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ShareIssueCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ShareIssueCostsMember" xml:lang="en-US" id="label_emx_ShareIssueCostsMember_en-US">Share issue costs [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssueCostsMember" xlink:to="label_emx_ShareIssueCostsMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ShareIssueCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ShareIssueCostsMember" xml:lang="en-US" id="documentation_emx_ShareIssueCostsMember_en-US">Share issue costs</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:label="UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:title="UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xml:lang="en-US" id="verboseLabel_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised_en-US">Unused tax losses for which no deferred tax asset recognised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:to="label_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:label="DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:title="DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xml:lang="en-US" id="verboseLabel_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_en-US">Deductible temporary differences for which no deferred tax asset is recognised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:to="label_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="CurrentTaxExpenseIncome" xlink:title="CurrentTaxExpenseIncome"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CurrentTaxExpenseIncome" xml:lang="en-US" id="label_ifrs-full_CurrentTaxExpenseIncome_en-US">Current tax expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxExpenseIncome" xlink:to="label_ifrs-full_CurrentTaxExpenseIncome" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DeferredTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_DeferredTaxExpenseIncome" xml:lang="en-US" id="terseLabel_ifrs-full_DeferredTaxExpenseIncome_en-US">Deferred tax recovery</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="IncomeTaxExpenseContinuingOperations" xlink:title="IncomeTaxExpenseContinuingOperations"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IncomeTaxExpenseContinuingOperations" xml:lang="en-US" id="label_ifrs-full_IncomeTaxExpenseContinuingOperations_en-US">Income Tax Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_ifrs-full_IncomeTaxExpenseContinuingOperations" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="TaxExpenseIncomeAtApplicableTaxRate" xlink:title="TaxExpenseIncomeAtApplicableTaxRate"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xml:lang="en-US" id="verboseLabel_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_en-US">Expected income tax (recovery)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxExpenseIncomeAtApplicableTaxRate" xlink:to="label_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxEffectOfForeignTaxRates" xlink:label="TaxEffectOfForeignTaxRates" xlink:title="TaxEffectOfForeignTaxRates"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxEffectOfForeignTaxRates" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_TaxEffectOfForeignTaxRates" xml:lang="en-US" id="verboseLabel_ifrs-full_TaxEffectOfForeignTaxRates_en-US">Effect of lower tax rates in foreign jurisdictions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfForeignTaxRates" xlink:to="label_ifrs-full_TaxEffectOfForeignTaxRates" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" xlink:label="TaxEffectOfRevenuesExemptFromTaxation2011" xlink:title="TaxEffectOfRevenuesExemptFromTaxation2011"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" xml:lang="en-US" id="verboseLabel_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011_en-US">Permanent differences</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfRevenuesExemptFromTaxation2011" xlink:to="label_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:label="TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:title="TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xml:lang="en-US" id="verboseLabel_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss_en-US">Change in unrecognized deductible temporary differences and other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:to="label_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" use="optional" order="4" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_TaxEffectOfForeignExchange" xlink:label="TaxEffectOfForeignExchange" xlink:title="TaxEffectOfForeignExchange"/>
    <link:label xlink:type="resource" xlink:label="label_emx_TaxEffectOfForeignExchange" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_TaxEffectOfForeignExchange" xml:lang="en-US" id="verboseLabel_emx_TaxEffectOfForeignExchange_en-US">Foreign exchange</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfForeignExchange" xlink:to="label_emx_TaxEffectOfForeignExchange" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_TaxEffectOfForeignExchange" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_TaxEffectOfForeignExchange" xml:lang="en-US" id="documentation_emx_TaxEffectOfForeignExchange_en-US">Foreign exchange</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ifrs-full_IncomeTaxExpenseContinuingOperations" xml:lang="en-US" id="terseLabel_ifrs-full_IncomeTaxExpenseContinuingOperations_en-US">Income Tax Expense</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_ManagementMember" xlink:label="ManagementMember" xlink:title="ManagementMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_ManagementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ManagementMember" xml:lang="en-US" id="label_emx_ManagementMember_en-US">Management [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ManagementMember" xlink:to="label_emx_ManagementMember" use="optional" order="1" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_ManagementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_ManagementMember" xml:lang="en-US" id="documentation_emx_ManagementMember_en-US">Management</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_OutsideDirectorsMember" xlink:label="OutsideDirectorsMember" xlink:title="OutsideDirectorsMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_OutsideDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OutsideDirectorsMember" xml:lang="en-US" id="label_emx_OutsideDirectorsMember_en-US">Outside directors [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OutsideDirectorsMember" xlink:to="label_emx_OutsideDirectorsMember" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_OutsideDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_OutsideDirectorsMember" xml:lang="en-US" id="documentation_emx_OutsideDirectorsMember_en-US">Outside directors</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_SeabordServicesCorpMember" xlink:label="SeabordServicesCorpMember" xlink:title="SeabordServicesCorpMember"/>
    <link:label xlink:type="resource" xlink:label="label_emx_SeabordServicesCorpMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SeabordServicesCorpMember" xml:lang="en-US" id="label_emx_SeabordServicesCorpMember_en-US">Seabord Services Corp. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeabordServicesCorpMember" xlink:to="label_emx_SeabordServicesCorpMember" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_SeabordServicesCorpMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_SeabordServicesCorpMember" xml:lang="en-US" id="documentation_emx_SeabordServicesCorpMember_en-US">Seabord Services Corp.</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xml:lang="en-US" id="verboseLabel_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_en-US">Salary or Fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="label_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="KeyManagementPersonnelCompensationSharebasedPayment" xlink:title="KeyManagementPersonnelCompensationSharebasedPayment"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xml:lang="en-US" id="verboseLabel_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_en-US">Share-based Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="label_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_KeyManagementPersonnelCompensation" xml:lang="en-US" id="verboseLabel_ifrs-full_KeyManagementPersonnelCompensation_en-US">Key management personnel compensation</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="verboseLabel_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Exploration and evaluation assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_PropertyPlantAndEquipment" xml:lang="en-US" id="verboseLabel_ifrs-full_PropertyPlantAndEquipment_en-US">Property and equipment</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="LevelsOfFairValueHierarchyAxis" xlink:title="LevelsOfFairValueHierarchyAxis"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_LevelsOfFairValueHierarchyAxis" xml:lang="en-US" id="label_ifrs-full_LevelsOfFairValueHierarchyAxis_en-US">Levels of fair value hierarchy [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LevelsOfFairValueHierarchyAxis" xlink:to="label_ifrs-full_LevelsOfFairValueHierarchyAxis" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="AllLevelsOfFairValueHierarchyMember" xlink:title="AllLevelsOfFairValueHierarchyMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AllLevelsOfFairValueHierarchyMember" xml:lang="en-US" id="label_ifrs-full_AllLevelsOfFairValueHierarchyMember_en-US">All levels of fair value hierarchy [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="label_ifrs-full_AllLevelsOfFairValueHierarchyMember" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="Level1OfFairValueHierarchyMember" xlink:title="Level1OfFairValueHierarchyMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Level1OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Level1OfFairValueHierarchyMember" xml:lang="en-US" id="label_ifrs-full_Level1OfFairValueHierarchyMember_en-US">Level 1 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level1OfFairValueHierarchyMember" xlink:to="label_ifrs-full_Level1OfFairValueHierarchyMember" use="optional" order="2" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="Level2OfFairValueHierarchyMember" xlink:title="Level2OfFairValueHierarchyMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Level2OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Level2OfFairValueHierarchyMember" xml:lang="en-US" id="label_ifrs-full_Level2OfFairValueHierarchyMember_en-US">Level 2 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level2OfFairValueHierarchyMember" xlink:to="label_ifrs-full_Level2OfFairValueHierarchyMember" use="optional" order="3" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="Level3OfFairValueHierarchyMember" xlink:title="Level3OfFairValueHierarchyMember"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Level3OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Level3OfFairValueHierarchyMember" xml:lang="en-US" id="label_ifrs-full_Level3OfFairValueHierarchyMember_en-US">Level 3 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level3OfFairValueHierarchyMember" xlink:to="label_ifrs-full_Level3OfFairValueHierarchyMember" use="optional" order="4" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_CashAndCashEquivalents" xml:lang="en-US" id="verboseLabel_ifrs-full_CashAndCashEquivalents_en-US">Cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xml:lang="en-US" id="verboseLabel_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_en-US">Restricted cash</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:label="FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="FinancialAssetsAtFairValueThroughProfitOrLoss"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xml:lang="en-US" id="verboseLabel_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_en-US">Fair value through profit or loss investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" use="optional" order="3" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_StrategicInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_emx_StrategicInvestments" xml:lang="en-US" id="terseLabel_emx_StrategicInvestments_en-US">Strategic investments</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherReceivables" xlink:label="OtherReceivables" xlink:title="OtherReceivables"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_OtherReceivables" xml:lang="en-US" id="verboseLabel_ifrs-full_OtherReceivables_en-US">Accounts receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherReceivables" xlink:to="label_ifrs-full_OtherReceivables" use="optional" order="5" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_NoncurrentReceivables" xml:lang="en-US" id="verboseLabel_ifrs-full_NoncurrentReceivables_en-US">Non-current accounts receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssets" xlink:label="FinancialAssets" xlink:title="FinancialAssets"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_FinancialAssets" xml:lang="en-US" id="verboseLabel_ifrs-full_FinancialAssets_en-US">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssets" xlink:to="label_ifrs-full_FinancialAssets" use="optional" order="7" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_TradeAndOtherCurrentReceivables" xml:lang="en-US" id="verboseLabel_ifrs-full_TradeAndOtherCurrentReceivables_en-US">Receivables</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_TradeAndOtherCurrentPayables" xml:lang="en-US" id="verboseLabel_ifrs-full_TradeAndOtherCurrentPayables_en-US">Accounts payable and accrued liabilities</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdvancesFromJointVenturePartners" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AdvancesFromJointVenturePartners" xml:lang="en-US" id="verboseLabel_emx_AdvancesFromJointVenturePartners_en-US">Advances from joint venture partners</link:label>
    <link:loc xlink:type="locator" xlink:href="emx-20171231.xsd#emx_AmountsHeldInForeignCurrencies" xlink:label="AmountsHeldInForeignCurrencies" xlink:title="AmountsHeldInForeignCurrencies"/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountsHeldInForeignCurrencies" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_emx_AmountsHeldInForeignCurrencies" xml:lang="en-US" id="verboseLabel_emx_AmountsHeldInForeignCurrencies_en-US">Net exposure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountsHeldInForeignCurrencies" xlink:to="label_emx_AmountsHeldInForeignCurrencies" use="optional" order="6" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountsHeldInForeignCurrencies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_emx_AmountsHeldInForeignCurrencies" xml:lang="en-US" id="documentation_emx_AmountsHeldInForeignCurrencies_en-US">Net exposure</link:label>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Cash" xlink:label="Cash" xlink:title="Cash"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Cash" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_Cash" xml:lang="en-US" id="verboseLabel_ifrs-full_Cash_en-US">Cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cash" xlink:to="label_ifrs-full_Cash" use="optional" order="1" xlink:title=""/>
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="ShorttermDepositsClassifiedAsCashEquivalents"/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xml:lang="en-US" id="verboseLabel_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_en-US">Short-term deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="label_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" use="optional" order="2" xlink:title=""/>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_ifrs-full_CashAndCashEquivalents" xml:lang="en-US" id="positiveTerseLabel_ifrs-full_CashAndCashEquivalents_en-US">Total</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CurrentAssets" xml:lang="en-US" id="label_ifrs-full_CurrentAssets_en-US">Total current assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NoncurrentReceivables" xml:lang="en-US" id="label_ifrs-full_NoncurrentReceivables_en-US">Receivables (NoncurrentReceivables)</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NoncurrentAssets" xml:lang="en-US" id="label_ifrs-full_NoncurrentAssets_en-US">Total non-current assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Assets" xml:lang="en-US" id="label_ifrs-full_Assets_en-US">TOTAL ASSETS</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_CurrentLiabilities" xml:lang="en-US" id="label_ifrs-full_CurrentLiabilities_en-US">Total current liabilities</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Liabilities" xml:lang="en-US" id="label_ifrs-full_Liabilities_en-US">TOTAL LIABILITIES</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Equity" xml:lang="en-US" id="label_ifrs-full_Equity_en-US">TOTAL SHAREHOLDERS' EQUITY</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_EquityAndLiabilities" xml:lang="en-US" id="label_ifrs-full_EquityAndLiabilities_en-US">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_CostOfSalesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CostOfSalesAbstract" xml:lang="en-US" id="label_emx_CostOfSalesAbstract_en-US">Cost Of Sales [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GoldTax" xml:lang="en-US" id="label_emx_GoldTax_en-US">Gold Tax</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_Depletion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_Depletion" xml:lang="en-US" id="label_emx_Depletion_en-US">Depletion</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_GrossProfit" xml:lang="en-US" id="label_ifrs-full_GrossProfit_en-US">Net royalty (loss) income</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources" xml:lang="en-US" id="label_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources_en-US">Less: recoveries</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NetExplorationExpenditures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NetExplorationExpenditures" xml:lang="en-US" id="label_emx_NetExplorationExpenditures_en-US">Net Exploration Expenditures</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_OperatingExpense" xml:lang="en-US" id="label_ifrs-full_OperatingExpense_en-US">Total general and administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProfitLossFromOperatingActivities" xml:lang="en-US" id="label_ifrs-full_ProfitLossFromOperatingActivities_en-US">Loss from operations</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GainsLossesOnDisposalOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GainsLossesOnDisposalOfSubsidiaries" xml:lang="en-US" id="label_emx_GainsLossesOnDisposalOfSubsidiaries_en-US">Gains Losses On Disposal Of Subsidiaries</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ImpairmentOfRoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ImpairmentOfRoyaltyInterest" xml:lang="en-US" id="label_emx_ImpairmentOfRoyaltyInterest_en-US">Impairment Of Royalty Interest</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_WriteOffOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_WriteOffOfExplorationAndEvaluationAssets" xml:lang="en-US" id="label_emx_WriteOffOfExplorationAndEvaluationAssets_en-US">Write Off Of Exploration And Evaluation Assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables" xml:lang="en-US" id="label_ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables_en-US">Impairment of accounts receivable</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProfitLossBeforeTax" xml:lang="en-US" id="label_ifrs-full_ProfitLossBeforeTax_en-US">Loss before income taxes</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DeferredTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DeferredTaxExpenseIncome" xml:lang="en-US" id="label_ifrs-full_DeferredTaxExpenseIncome_en-US">Deferred income tax recovery (DeferredTaxExpenseIncome)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ItemsNotAffectingOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ItemsNotAffectingOperatingActivitiesAbstract" xml:lang="en-US" id="label_emx_ItemsNotAffectingOperatingActivitiesAbstract_en-US">Items Not Affecting Operating Activities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForInterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForInterestIncome" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForInterestIncome_en-US">Interest income received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents" xml:lang="en-US" id="label_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents_en-US">Adjustments For Unrealized Foreign Exchange Effect On Cash And Cash Equivalents</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments" xml:lang="en-US" id="label_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments_en-US">Adjustments For Change In Fair Value Of Fair Value Through Profit Or Loss Investments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForCommitmentToIssueShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForCommitmentToIssueShares" xml:lang="en-US" id="label_emx_AdjustmentsForCommitmentToIssueShares_en-US">Adjustments For Commitment To Issue Shares</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments" xml:lang="en-US" id="label_emx_AdjustmentsForPermanentLossOnFinancialInstruments_en-US">Adjustments For Permanent Loss On Financial Instruments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForInterestOnNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForInterestOnNotesReceivable" xml:lang="en-US" id="label_emx_AdjustmentsForInterestOnNotesReceivable_en-US">Adjustments For Interest On Notes Receivable</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForInterestOnConvertibleLoan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForInterestOnConvertibleLoan" xml:lang="en-US" id="label_emx_AdjustmentsForInterestOnConvertibleLoan_en-US">Adjustments For Interest On Convertible Loan</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable" xml:lang="en-US" id="label_emx_AdjustmentsForAccretionInterestOnLongTermReceivable_en-US">Adjustments For Accretion Interest On Long Term Receivable</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable" xml:lang="en-US" id="label_emx_AdjustmentsForDerivativeLossOnAccountsReceivable_en-US">Adjustments For Derivative Loss On Accounts Receivable</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForSharebasedPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForSharebasedPayments" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForSharebasedPayments_en-US">Share - based payments</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_en-US">Depreciation (AdjustmentsForDepreciationAndAmortisationExpense)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDepletion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForDepletion" xml:lang="en-US" id="label_emx_AdjustmentsForDepletion_en-US">Adjustments For Depletion</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainOnOptionPaymentsReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForGainOnOptionPaymentsReceived" xml:lang="en-US" id="label_emx_AdjustmentsForGainOnOptionPaymentsReceived_en-US">Adjustments For Gain On Option Payments Received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest" xml:lang="en-US" id="label_emx_AdjustmentsForImpairmentOfRoyaltyInterest_en-US">Adjustments For Impairment Of Royalty Interest</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill_en-US">Writedown of goodwill (AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries" xml:lang="en-US" id="label_emx_AdjustmentsForGainsLossesOnDisposalOfSubsidiaries_en-US">Adjustments For Gains Losses On Disposal Of Subsidiaries</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables_en-US">Impairment of receivables</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments" xml:lang="en-US" id="label_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments_en-US">Adjustments For Realized Gain Loss On Sale Of Investments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets" xml:lang="en-US" id="label_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets_en-US">Adjustments For Gain On Acquistion And Sale Of Exploration And Evalution Assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_en-US">(Gain) loss on derecognition and sale of property and equipment</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets" xml:lang="en-US" id="label_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets_en-US">Adjustments For Write Off Of Exploration And Evaluation Assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xml:lang="en-US" id="label_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_en-US">Equity loss in associated companies (AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies" xml:lang="en-US" id="label_emx_AdjustmentsForDilutionGainInAssociatedCompanies_en-US">Adjustments For Dilution Gain In Associated Companies</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OptionAgreementInterest" xml:lang="en-US" id="label_emx_OptionAgreementInterest_en-US">Option Agreement Interest</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementSubsequentInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OptionAgreementSubsequentInterest" xml:lang="en-US" id="label_emx_OptionAgreementSubsequentInterest_en-US">Option Agreement Subsequent Interest</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementSharesReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OptionAgreementSharesReceived" xml:lang="en-US" id="label_emx_OptionAgreementSharesReceived_en-US">Option Agreement Shares Received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementValueOfSharesReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OptionAgreementValueOfSharesReceived" xml:lang="en-US" id="label_emx_OptionAgreementValueOfSharesReceived_en-US">Option Agreement Value Of Shares Received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OptionAgreementExplorationExpendituresRequired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OptionAgreementExplorationExpendituresRequired" xml:lang="en-US" id="label_emx_OptionAgreementExplorationExpendituresRequired_en-US">Option Agreement Exploration Expenditures Required</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromTerminationOfOptionAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProceedsFromTerminationOfOptionAgreement" xml:lang="en-US" id="label_emx_ProceedsFromTerminationOfOptionAgreement_en-US">Proceeds From Termination Of Option Agreement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" xml:lang="en-US" id="label_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment_en-US">Value Of Quit Claim Deed In Lieu Of Option Payment</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationLicenseOwnershipAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ExplorationLicenseOwnershipAcquired" xml:lang="en-US" id="label_emx_ExplorationLicenseOwnershipAcquired_en-US">Exploration License Ownership Acquired</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty" xml:lang="en-US" id="label_emx_ProceedsFromAnnualAdvanceMinimumRoyalty_en-US">Proceeds From Annual Advance Minimum Royalty</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AmountAppliedAgainstCapitalizedCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AmountAppliedAgainstCapitalizedCosts" xml:lang="en-US" id="label_emx_AmountAppliedAgainstCapitalizedCosts_en-US">Amount Applied Against Capitalized Costs</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromMilestonePayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProceedsFromMilestonePayments" xml:lang="en-US" id="label_emx_ProceedsFromMilestonePayments_en-US">Proceeds From Milestone Payments</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets" xml:lang="en-US" id="label_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets_en-US">Proceeds from disposal of exploration and evaluation assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AdvancedProductionPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AdvancedProductionPayments" xml:lang="en-US" id="label_emx_AdvancedProductionPayments_en-US">Advanced Production Payments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" xml:lang="en-US" id="label_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage_en-US">Disposal Of Subsidiary Decrease In Ownership Percentage</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" xml:lang="en-US" id="label_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement_en-US">Description Of Gold Payments Associated With Share Purchase Agreement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TradeAndOtherReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TradeAndOtherReceivables" xml:lang="en-US" id="label_ifrs-full_TradeAndOtherReceivables_en-US">Receivables (TradeAndOtherReceivables)</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AccretedInterestIncomeReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AccretedInterestIncomeReceivable" xml:lang="en-US" id="label_emx_AccretedInterestIncomeReceivable_en-US">Accreted Interest Income Receivable</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_LongTermGoldPriceUsedForCalculations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_LongTermGoldPriceUsedForCalculations" xml:lang="en-US" id="label_emx_LongTermGoldPriceUsedForCalculations_en-US">Long Term Gold Price Used For Calculations</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xml:lang="en-US" id="label_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections_en-US">Discount rate applied to cash flow projections</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" xml:lang="en-US" id="label_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary_en-US">Disposal Of Subsidiary Net Assets Of Subsidiary</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProceedsFromSharePurchaseAgreement" xml:lang="en-US" id="label_emx_ProceedsFromSharePurchaseAgreement_en-US">Proceeds From Share Purchase Agreement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OuncesOfGoldEquivalentToPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OuncesOfGoldEquivalentToPayment" xml:lang="en-US" id="label_emx_OuncesOfGoldEquivalentToPayment_en-US">Ounces Of Gold Equivalent To Payment</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xml:lang="en-US" id="label_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_en-US">Investments in subsidiaries, joint ventures and associates</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_PaymentsForExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_PaymentsForExplorationAndEvaluationAssets" xml:lang="en-US" id="label_emx_PaymentsForExplorationAndEvaluationAssets_en-US">Payments For Exploration And Evaluation Assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" xml:lang="en-US" id="label_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets_en-US">Gain On Acquisition Of Exploration And Evaluation Assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement" xml:lang="en-US" id="label_emx_AnnualCashPaymentsFromSharePurchaseAgreement_en-US">Annual Cash Payments From Share Purchase Agreement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ConditionOfSharePurchaseAgreementProductionReturns" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ConditionOfSharePurchaseAgreementProductionReturns" xml:lang="en-US" id="label_emx_ConditionOfSharePurchaseAgreementProductionReturns_en-US">Condition Of Share Purchase Agreement Production Returns</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" xml:lang="en-US" id="label_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable_en-US">Proportion Of Advance Cash Payments Credited Against Net Smelter Return Payment Payable</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAdvanceRoyaltyPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProceedsFromAdvanceRoyaltyPayment" xml:lang="en-US" id="label_emx_ProceedsFromAdvanceRoyaltyPayment_en-US">Proceeds From Advance Royalty Payment</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromAnAdjustedRoyaltyPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProceedsFromAnAdjustedRoyaltyPayment" xml:lang="en-US" id="label_emx_ProceedsFromAnAdjustedRoyaltyPayment_en-US">Proceeds From An Adjusted Royalty Payment</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived" xml:lang="en-US" id="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceived_en-US">Golcuk Transfer And Royalty Agreement Shares Received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" xml:lang="en-US" id="label_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived_en-US">Golcuk Transfer And Royalty Agreement Value Of Shares Received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" xml:lang="en-US" id="label_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare_en-US">Golcuk Transfer And Royalty Agreement Shares Received Value Per Share</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment" xml:lang="en-US" id="label_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment_en-US">Losses on disposals of property, plant and field equipment</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" xml:lang="en-US" id="label_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets_en-US">Proceeds From Sale Of Exploration And Evaluation Assets</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ExplorationIncomeAsOptionPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ExplorationIncomeAsOptionPayments" xml:lang="en-US" id="label_emx_ExplorationIncomeAsOptionPayments_en-US">Exploration Income As Option Payments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" xml:lang="en-US" id="label_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired_en-US">Net Smelter Return Royalty On All Precious Metals Acquired</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" xml:lang="en-US" id="label_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired_en-US">Net Smelter Return Royalty On All Other Minerals Acquired</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NetSmelterReturnRoyaltyAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NetSmelterReturnRoyaltyAcquired" xml:lang="en-US" id="label_emx_NetSmelterReturnRoyaltyAcquired_en-US">Net Smelter Return Royalty Acquired</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrossSmelterReturnRoyalty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrossSmelterReturnRoyalty" xml:lang="en-US" id="label_emx_GrossSmelterReturnRoyalty_en-US">Gross Smelter Return Royalty</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfProductionRoyalty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DescriptionOfProductionRoyalty" xml:lang="en-US" id="label_emx_DescriptionOfProductionRoyalty_en-US">Description Of Production Royalty</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldTaxPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GoldTaxPercentage" xml:lang="en-US" id="label_emx_GoldTaxPercentage_en-US">Gold Tax Percentage</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember" xml:lang="en-US" id="label_emx_GrantedAugustTwoEightTwoZeroOneSevenMember_en-US">Granted August Two Eight Two Zero One Seven [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_RestrictedShareUnitsVestedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_RestrictedShareUnitsVestedMember" xml:lang="en-US" id="label_emx_RestrictedShareUnitsVestedMember_en-US">Restricted Share Units Vested [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_EquityIssuancePricePerUnit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EquityIssuancePricePerUnit" xml:lang="en-US" id="label_emx_EquityIssuancePricePerUnit_en-US">Equity Issuance Price Per Unit</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ShareIssueCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ShareIssueCosts" xml:lang="en-US" id="label_emx_ShareIssueCosts_en-US">Share Issue Costs</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" xml:lang="en-US" id="label_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders_en-US">Finder S Fees In Units Percentage Of Units Sold To Investors Introduced By Finders</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" xml:lang="en-US" id="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares_en-US">Shares Issued Pursuant To An Incentive Stock Grant Program Shares</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" xml:lang="en-US" id="label_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram_en-US">Shares Issued Pursuant To An Incentive Stock Grant Program</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" xml:lang="en-US" id="label_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements_en-US">Increase Decrease In Number Of Shares Outstanding Through Employment And Consulting Agreements</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" xml:lang="en-US" id="label_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements_en-US">Increase Decrease Through Employment And Consulting Agreements</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" xml:lang="en-US" id="label_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares_en-US">Increase Decreate Through Shares Issued For Property Shares</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_IncreaseDecreateThroughSharesIssuedForProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IncreaseDecreateThroughSharesIssuedForProperty" xml:lang="en-US" id="label_emx_IncreaseDecreateThroughSharesIssuedForProperty_en-US">Increase Decreate Through Shares Issued For Property</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfStockOptionPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DescriptionOfStockOptionPlan" xml:lang="en-US" id="label_emx_DescriptionOfStockOptionPlan_en-US">Description Of Stock Option Plan</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_DescriptionOfOptionVestingSchedule" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DescriptionOfOptionVestingSchedule" xml:lang="en-US" id="label_emx_DescriptionOfOptionVestingSchedule_en-US">Description Of Option Vesting Schedule</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xml:lang="en-US" id="label_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions_en-US">Weighted average remaining contractual life of outstanding share options</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ShareIssueRelatedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ShareIssueRelatedCost" xml:lang="en-US" id="label_ifrs-full_ShareIssueRelatedCost_en-US">Share-based Payments (ShareIssueRelatedCost)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted" xml:lang="en-US" id="label_emx_WeightedAverageFairValueOfTheStockOptionsGranted_en-US">Weighted Average Fair Value Of The Stock Options Granted</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability" xml:lang="en-US" id="label_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability_en-US">Cumulative Translation Adjustments Gain On Deferred Tax Liability</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary" xml:lang="en-US" id="label_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary_en-US">Cumulative Translation Adjustments Gain In The Net Assets Of A Subsidiary</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany" xml:lang="en-US" id="label_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany_en-US">Conversion Of Convertible Loan To An Investment In An Associated Company</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances" xml:lang="en-US" id="label_emx_ReclassificationOfRestrictedCashToCashAndCashEquivalentsForJointVenturePartnerAdvances_en-US">Reclassification Of Restricted Cash To Cash And Cash Equivalents For Joint Venture Partner Advances</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember" xml:lang="en-US" id="label_emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember_en-US">Events Subsequent To The Reporting Date Buckhorn Creek Property [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_EventsSubsequentToTheReportingDateTurkeyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EventsSubsequentToTheReportingDateTurkeyMember" xml:lang="en-US" id="label_emx_EventsSubsequentToTheReportingDateTurkeyMember_en-US">Events Subsequent To The Reporting Date Turkey [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_ProjectOwnershipPercentageForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_ProjectOwnershipPercentageForSale" xml:lang="en-US" id="label_emx_ProjectOwnershipPercentageForSale_en-US">Project Ownership Percentage For Sale</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty" xml:lang="en-US" id="label_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty_en-US">Definitive Sales Agreement Description Of Net Smelter Royalty</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments" xml:lang="en-US" id="label_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments_en-US">Definitive Sales Agreement Description Of Advanced Annual Royalty Payments</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived" xml:lang="en-US" id="label_emx_AmendedSalesAgreementAdditionalSharesToBeReceived_en-US">Amended Sales Agreement Additional Shares To Be Received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfEquityInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NumberOfEquityInstrumentsHeld" xml:lang="en-US" id="label_emx_NumberOfEquityInstrumentsHeld_en-US">Number Of Equity Instruments Held</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GoldEquivalentOfProceedsReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GoldEquivalentOfProceedsReceived" xml:lang="en-US" id="label_emx_GoldEquivalentOfProceedsReceived_en-US">Gold Equivalent Of Proceeds Received</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXUSAServicesCorpMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EMXUSAServicesCorpMember" xml:lang="en-US" id="label_emx_EMXUSAServicesCorpMember_en-US">E M X U S A Services Corp [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasianMineralsCooperatiefUAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EurasianMineralsCooperatiefUAMember" xml:lang="en-US" id="label_emx_EurasianMineralsCooperatiefUAMember_en-US">Eurasian Minerals Cooperatief U A [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_EurasianMineralsSwedenABMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EurasianMineralsSwedenABMember" xml:lang="en-US" id="label_emx_EurasianMineralsSwedenABMember_en-US">Eurasian Minerals Sweden A B [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXExplorationScandinaviaABMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EMXExplorationScandinaviaABMember" xml:lang="en-US" id="label_emx_EMXExplorationScandinaviaABMember_en-US">E M X Exploration Scandinavia A B [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_IekevareMineralsABMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_IekevareMineralsABMember" xml:lang="en-US" id="label_emx_IekevareMineralsABMember_en-US">Iekevare Minerals A B [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_EMXAustraliaPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_EMXAustraliaPtyLtdMember" xml:lang="en-US" id="label_emx_EMXAustraliaPtyLtdMember_en-US">E M X Australia Pty Ltd [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xml:lang="en-US" id="label_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition_en-US">Financial assets at fair value through profit or loss, Cost</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAvailableForSaleCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FinancialAssetsAvailableForSaleCost" xml:lang="en-US" id="label_emx_FinancialAssetsAvailableForSaleCost_en-US">Financial Assets Available For Sale Cost</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss" xml:lang="en-US" id="label_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss_en-US">Financial Assets Available For Sale Accumulated Unrealised Loss</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinancialAssetsAvailableforsale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_FinancialAssetsAvailableforsale" xml:lang="en-US" id="label_ifrs-full_FinancialAssetsAvailableforsale_en-US">Financial assets available-for-sale, Fair value</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_OtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OtherReceivablesMember" xml:lang="en-US" id="label_emx_OtherReceivablesMember_en-US">Other Receivables [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment" xml:lang="en-US" id="label_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment_en-US">Disposals and derecognition</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_TurkeyAlankoyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_TurkeyAlankoyMember" xml:lang="en-US" id="label_emx_TurkeyAlankoyMember_en-US">Turkey Alankoy [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_USAYeringtonNevadaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_USAYeringtonNevadaMember" xml:lang="en-US" id="label_emx_USAYeringtonNevadaMember_en-US">U S A Yerington Nevada [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_AsiaPacificNeavesvilleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_AsiaPacificNeavesvilleMember" xml:lang="en-US" id="label_emx_AsiaPacificNeavesvilleMember_en-US">Asia Pacific Neavesville [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_USAOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_USAOtherMember" xml:lang="en-US" id="label_emx_USAOtherMember_en-US">U S A Other [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_OtherExplorationAndEvaluationLocationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_OtherExplorationAndEvaluationLocationsMember" xml:lang="en-US" id="label_emx_OtherExplorationAndEvaluationLocationsMember_en-US">Other Exploration And Evaluation Locations [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_en-US">Number of share options granted in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options granted in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_en-US">Number of share options exercised in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options exercised in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_en-US">Number of share options expired in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options expired in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_en-US">Number of share options exercisable in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement_en-US">Weighted average exercise price of share options exercisable in share-based payment arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJulyFiveTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedJulyFiveTwoZeroOneTwoMember" xml:lang="en-US" id="label_emx_GrantedJulyFiveTwoZeroOneTwoMember_en-US">Granted July Five Two Zero One Two [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" xml:lang="en-US" id="label_emx_GrantedAugustTwoTwoTwoZeroOneTwoMember_en-US">Granted August Two Two Two Zero One Two [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember" xml:lang="en-US" id="label_emx_GrantedOctoberOneSixTwoZeroOneTwoMember_en-US">Granted October One Six Two Zero One Two [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember" xml:lang="en-US" id="label_emx_GrantedAprilTwoFiveTwoZeroOneFourMember_en-US">Granted April Two Five Two Zero One Four [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember" xml:lang="en-US" id="label_emx_GrantedJuneTwoSixTwoZeroOneFourMember_en-US">Granted June Two Six Two Zero One Four [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" xml:lang="en-US" id="label_emx_GrantedDecemberTwoTwoTwoZeroOneFourMember_en-US">Granted December Two Two Two Zero One Four [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedJuneEightTwoZeroOneFiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedJuneEightTwoZeroOneFiveMember" xml:lang="en-US" id="label_emx_GrantedJuneEightTwoZeroOneFiveMember_en-US">Granted June Eight Two Zero One Five [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember" xml:lang="en-US" id="label_emx_GrantedOctoberOneEightTwoZeroOneSixMember_en-US">Granted October One Eight Two Zero One Six [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExercisePriceOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ExercisePriceOfOutstandingShareOptions" xml:lang="en-US" id="label_ifrs-full_ExercisePriceOfOutstandingShareOptions_en-US">Exercise price of outstanding share options</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_en-US">Restricted share units, beginning of period</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xml:lang="en-US" id="label_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted_en-US">Granted</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_en-US">Vested</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="label_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_en-US">Expired/Cancelled</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xml:lang="en-US" id="label_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_en-US">Risk free interest rate</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xml:lang="en-US" id="label_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_en-US">Expected life (years)</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xml:lang="en-US" id="label_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_en-US">Expected volatility</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ExpectedDividendShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_ExpectedDividendShareOptionsGranted" xml:lang="en-US" id="label_ifrs-full_ExpectedDividendShareOptionsGranted_en-US">Dividend yield</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfOutstandingWarrants" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NumberOfOutstandingWarrants" xml:lang="en-US" id="label_emx_NumberOfOutstandingWarrants_en-US">Number Of Outstanding Warrants</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement" xml:lang="en-US" id="label_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement_en-US">Weighted Average Exercise Price Of Warrants Outstanding In Sharebased Payment Arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="label_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement_en-US">Number Of Warrants Expired In Sharebased Payment Arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement" xml:lang="en-US" id="label_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement_en-US">Weighted Average Exercise Price Of Warrants Expired In Sharebased Payment Arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement_en-US">Number Of Warrants Granted In Sharebased Payment Arrangement</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember" xml:lang="en-US" id="label_emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember_en-US">Private Placement April One Two Two Zero One Seven [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember" xml:lang="en-US" id="label_emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember_en-US">Finders Warrants April One Two Two Zero One Seven [Member]</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" xml:lang="en-US" id="label_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised_en-US">Unused tax losses for which no deferred tax asset recognised</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xml:lang="en-US" id="label_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_en-US">Deductible temporary differences for which no deferred tax asset is recognised</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xml:lang="en-US" id="label_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_en-US">Expected income tax (recovery)</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxEffectOfForeignTaxRates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TaxEffectOfForeignTaxRates" xml:lang="en-US" id="label_ifrs-full_TaxEffectOfForeignTaxRates_en-US">Effect of lower tax rates in foreign jurisdictions</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011" xml:lang="en-US" id="label_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011_en-US">Permanent differences</link:label>
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    <link:label xlink:type="resource" xlink:label="label_emx_TaxEffectOfForeignExchange" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_emx_TaxEffectOfForeignExchange" xml:lang="en-US" id="label_emx_TaxEffectOfForeignExchange_en-US">Tax Effect Of Foreign Exchange</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xml:lang="en-US" id="label_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_en-US">Salary or Fees</link:label>
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xml:lang="en-US" id="label_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_en-US">Share-based Payments (KeyManagementPersonnelCompensationSharebasedPayment)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ifrs-full_Cash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ifrs-full_Cash" xml:lang="en-US" id="label_ifrs-full_Cash_en-US">Cash</link:label>
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  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>14
<FILENAME>emx-20171231_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8" standalone="yes"?>
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  <xsd:element name="DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" id="emx_DisclosureOfDetailedInformationAboutEffectiveIncomeTaxExpenseRecoveryExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" id="emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" id="emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="DisclosureOfCurrencyRiskExplanatoryTableTextBlock" id="emx_DisclosureOfCurrencyRiskExplanatoryTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ComponentsOfRestrictedCashAxis" id="emx_ComponentsOfRestrictedCashAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ComponentsOfRestrictedCashDomain" id="emx_ComponentsOfRestrictedCashDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="HeldAsCollateralForItsCorporateCreditCardsMember" id="emx_HeldAsCollateralForItsCorporateCreditCardsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" id="emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" id="emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="FieldMember" id="emx_FieldMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="IGCLoanMember" id="emx_IGCLoanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NotesReceivableToReveloResourcesCorpMember" id="emx_NotesReceivableToReveloResourcesCorpMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="LoanAuthorised" id="emx_LoanAuthorised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="credit"/>
  <xsd:element name="ExpensesPaidAmountAddedToLoan" id="emx_ExpensesPaidAmountAddedToLoan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" id="emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="AdditionalProceedsFromNonCurrentBorrowings" id="emx_AdditionalProceedsFromNonCurrentBorrowings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="AmountConverted" id="emx_AmountConverted" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="AccruedInterestConverted" id="emx_AccruedInterestConverted" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="AmountConvertedConversionPrice" id="emx_AmountConvertedConversionPrice" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="AmountConvertedUnitsGranted" id="emx_AmountConvertedUnitsGranted" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AmountConvertedWarrantsGranted" id="emx_AmountConvertedWarrantsGranted" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" id="emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/>
  <xsd:element name="FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" id="emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/>
  <xsd:element name="EffectiveInterestMethodEffectiveRate" id="emx_EffectiveInterestMethodEffectiveRate" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BonusFromNotesReceivableIssued" id="emx_BonusFromNotesReceivableIssued" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="IGCopperLLCMember" id="emx_IGCopperLLCMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="TurkishCoMember" id="emx_TurkishCoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" id="emx_IncreaseDecreaseInProportionOfOwnershipInterestInAssociate" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SpecificExplorationLicensesAxis" id="emx_SpecificExplorationLicensesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ExplorationLicensesDomain" id="emx_ExplorationLicensesDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SuperiorWestProjectMember" id="emx_SuperiorWestProjectMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="YeringtonWestPropertyMember" id="emx_YeringtonWestPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="KoonenberryArastraMember" id="emx_KoonenberryArastraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SlattbergLicensesMember" id="emx_SlattbergLicensesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AguilaDeCobrePropertyMember" id="emx_AguilaDeCobrePropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CathedralWellPropertyMember" id="emx_CathedralWellPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="HardshellSkarnPropertyMember" id="emx_HardshellSkarnPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GreenwoodPeakProjectMember" id="emx_GreenwoodPeakProjectMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CopperSpringsCopperKingAndRedTopPropertiesMember" id="emx_CopperSpringsCopperKingAndRedTopPropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CopperSpringsProjectMember" id="emx_CopperSpringsProjectMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CopperKingMember" id="emx_CopperKingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="RedTopProjectMember" id="emx_RedTopProjectMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="FrazierCanyonAndBuckhornCreekProjectsMember" id="emx_FrazierCanyonAndBuckhornCreekProjectsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="MineralHillPropertyMember" id="emx_MineralHillPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="OphirPropertyMember" id="emx_OphirPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SisortaJointVentureMember" id="emx_SisortaJointVentureMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BalyaPropertyMember" id="emx_BalyaPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GolcukTransferAndRoyaltyAgreementMember" id="emx_GolcukTransferAndRoyaltyAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="TumadAgreementTrabTwoThreeMember" id="emx_TumadAgreementTrabTwoThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="FerriteAgreementAlankoyMember" id="emx_FerriteAgreementAlankoyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BlackSeaCopperGoldAgreementAlankoyMember" id="emx_BlackSeaCopperGoldAgreementAlankoyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AktutanPropertyMember" id="emx_AktutanPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NeavesvilleGoldsilverPropertyMember" id="emx_NeavesvilleGoldsilverPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrandBoisGoldcopperProjectMember" id="emx_GrandBoisGoldcopperProjectMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="JasperCanyonAndSilverBellProjectsMember" id="emx_JasperCanyonAndSilverBellProjectsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="KoonenberryPerryArmstrongMember" id="emx_KoonenberryPerryArmstrongMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="KoonenberryArastraFourExplorationLicensesMember" id="emx_KoonenberryArastraFourExplorationLicensesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="KoonenberryArastraOneLicenseMember" id="emx_KoonenberryArastraOneLicenseMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="KoonenberryArastraThreeOtherLicensesMember" id="emx_KoonenberryArastraThreeOtherLicensesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="KoonenberryRockwellMember" id="emx_KoonenberryRockwellMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="KoonenberryBatesMember" id="emx_KoonenberryBatesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="HaitiExplorationPermitsMember" id="emx_HaitiExplorationPermitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" id="emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" id="emx_BuckhornCreekFrazierCreekAndJasperCanyonPropertiesPerProjectMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CopperBasinPropertyMember" id="emx_CopperBasinPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SilverBellWestPropertyMember" id="emx_SilverBellWestPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="LomitasNegrasPropertyMember" id="emx_LomitasNegrasPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ExplorationAndEvaluationAssetsByGeographyAxis" id="emx_ExplorationAndEvaluationAssetsByGeographyAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ExplorationAndEvaluationAssetsByGeographyDomain" id="emx_ExplorationAndEvaluationAssetsByGeographyDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AsiaPacificNeavesvilleMember" id="emx_AsiaPacificNeavesvilleMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AsiaPacificNewZealandMember" id="emx_AsiaPacificNewZealandMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AsiaPacificOtherMember" id="emx_AsiaPacificOtherMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AsiaPacificMember" id="emx_AsiaPacificMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AustriaMember" id="emx_AustriaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="EuropeMember" id="emx_EuropeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ScandinaviaMember" id="emx_ScandinaviaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SwedenVariousMember" id="emx_SwedenVariousMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SwedenViadRoyaltiesMember" id="emx_SwedenViadRoyaltiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="TurkeyAkarcaMember" id="emx_TurkeyAkarcaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="TurkeyAlankoyMember" id="emx_TurkeyAlankoyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="TurkeySisortaMember" id="emx_TurkeySisortaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="TurkeyTrabMember" id="emx_TurkeyTrabMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="TurkeyOtherMember" id="emx_TurkeyOtherMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UsaAngloAmericanMember" id="emx_UsaAngloAmericanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="USADesertStarMember" id="emx_USADesertStarMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="USAKennecottMember" id="emx_USAKennecottMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="USASuperWestArizonaMember" id="emx_USASuperWestArizonaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="USAValeMember" id="emx_USAValeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="USAYeringtonNevadaMember" id="emx_USAYeringtonNevadaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="USAOtherMember" id="emx_USAOtherMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="OtherExplorationAndEvaluationLocationsMember" id="emx_OtherExplorationAndEvaluationLocationsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BorealMetalsCorpMember" id="emx_BorealMetalsCorpMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SiennaResourcesIncMember" id="emx_SiennaResourcesIncMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AesMadencilikAsMember" id="emx_AesMadencilikAsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ChesserResourcesLtdMember" id="emx_ChesserResourcesLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="EbxMadencilikAsMember" id="emx_EbxMadencilikAsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ManagementMember" id="emx_ManagementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="OutsideDirectorsMember" id="emx_OutsideDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SeabordServicesCorpMember" id="emx_SeabordServicesCorpMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NonexecutiveChairmanMember" id="emx_NonexecutiveChairmanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="PursuantToTheAgreementMember" id="emx_PursuantToTheAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SubsequentToSigningMember" id="emx_SubsequentToSigningMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UponExerciseOfTheOptionMember" id="emx_UponExerciseOfTheOptionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AfterExerciseOfTheOptionMember" id="emx_AfterExerciseOfTheOptionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UponExecutionOfTheAgreementMember" id="emx_UponExecutionOfTheAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="OverTheNextThreeYearsMember" id="emx_OverTheNextThreeYearsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="FirstAnniversaryOfTheExerciseOfTheOptionMember" id="emx_FirstAnniversaryOfTheExerciseOfTheOptionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AfterCommencementOfCommercialProductionMember" id="emx_AfterCommencementOfCommercialProductionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BetweenTheFifthAndSeventhAnniversariesMember" id="emx_BetweenTheFifthAndSeventhAnniversariesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="BetweenTheEighthAndTenthAnniversariesMember" id="emx_BetweenTheEighthAndTenthAnniversariesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" id="emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" id="emx_WithinThreeZeroDaysAfterTheCommencementOfCommercialProductionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" id="emx_UponProductionOfOneZeroZeroZeroZeroZeroOuncesOfGoldMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" id="emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SlidingscaleRoyaltyMember" id="emx_SlidingscaleRoyaltyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" id="emx_CommencingOnTheFirstAnniversaryOfTheExerciseOfTheOptionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" id="emx_UponCompletionOfAnOrderOfMagnitudeStudyOmsOrPreliminaryEconomicAssessmentPeaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="OptionalOnetimePaymentMember" id="emx_OptionalOnetimePaymentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UponCompletionOfAPrefeasibilityStudyMember" id="emx_UponCompletionOfAPrefeasibilityStudyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UponCompletionOfAFeasibilityStudyMember" id="emx_UponCompletionOfAFeasibilityStudyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ProceedsFromAnnualOptionPayment" id="emx_ProceedsFromAnnualOptionPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="CapitalizedCostOfPropertiesTransferred" id="emx_CapitalizedCostOfPropertiesTransferred" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="NetSmelterReturnsRoyaltyTerminated" id="emx_NetSmelterReturnsRoyaltyTerminated" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NumberOfEquityInterestsInSubsidiaryAcquired" id="emx_NumberOfEquityInterestsInSubsidiaryAcquired" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="DescriptionOfEquityOwnershipContinuingObligation" id="emx_DescriptionOfEquityOwnershipContinuingObligation" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ProceedsFromReimbursementOfAmountsPaid" id="emx_ProceedsFromReimbursementOfAmountsPaid" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="DescriptionOfTermsOfNetSmelterReturnRoyalty" id="emx_DescriptionOfTermsOfNetSmelterReturnRoyalty" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="DescriptionOfAnnualAdvanceRoyaltyPayments" id="emx_DescriptionOfAnnualAdvanceRoyaltyPayments" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="EquityInterestsOfAcquirerValuePerShare" id="emx_EquityInterestsOfAcquirerValuePerShare" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="credit"/>
  <xsd:element name="PaymentOfFindersFee" id="emx_PaymentOfFindersFee" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="NumberOfEquityInterestsOfSubsidiaryHeld" id="emx_NumberOfEquityInterestsOfSubsidiaryHeld" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="GainOnDisposalOfSubsidiary" id="emx_GainOnDisposalOfSubsidiary" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="OptionAgreementInterest" id="emx_OptionAgreementInterest" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="OptionAgreementSubsequentInterest" id="emx_OptionAgreementSubsequentInterest" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="OptionAgreementSharesReceived" id="emx_OptionAgreementSharesReceived" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="OptionAgreementValueOfSharesReceived" id="emx_OptionAgreementValueOfSharesReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="OptionAgreementExplorationExpendituresRequired" id="emx_OptionAgreementExplorationExpendituresRequired" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="NetSmelterReturnRoyalty" id="emx_NetSmelterReturnRoyalty" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="DescriptionOfTermsOfOptionAgreement" id="emx_DescriptionOfTermsOfOptionAgreement" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ProceedsFromOptionAgreement" id="emx_ProceedsFromOptionAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ProceedsFromTerminationOfOptionAgreement" id="emx_ProceedsFromTerminationOfOptionAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ValueOfQuitClaimDeedInLieuOfOptionPayment" id="emx_ValueOfQuitClaimDeedInLieuOfOptionPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ExplorationLicenseOwnershipAcquired" id="emx_ExplorationLicenseOwnershipAcquired" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ExplorationLicenseOwnershipPercentage" id="emx_ExplorationLicenseOwnershipPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="ProceedsFromAnnualAdvanceMinimumRoyalty" id="emx_ProceedsFromAnnualAdvanceMinimumRoyalty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="AmountAppliedAgainstCapitalizedCosts" id="emx_AmountAppliedAgainstCapitalizedCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ProceedsFromMilestonePayments" id="emx_ProceedsFromMilestonePayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="AdvancedProductionPayments" id="emx_AdvancedProductionPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="DisposalOfSubsidiaryDecreaseInOwnershipPercentage" id="emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" id="emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AccretedInterestIncomeReceivable" id="emx_AccretedInterestIncomeReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/>
  <xsd:element name="LongTermGoldPriceUsedForCalculations" id="emx_LongTermGoldPriceUsedForCalculations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/>
  <xsd:element name="DisposalOfSubsidiaryNetAssetsOfSubsidiary" id="emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ProceedsFromSharePurchaseAgreement" id="emx_ProceedsFromSharePurchaseAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="OuncesOfGoldEquivalentToPayment" id="emx_OuncesOfGoldEquivalentToPayment" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="PaymentsForExplorationAndEvaluationAssets" id="emx_PaymentsForExplorationAndEvaluationAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="GainOnAcquisitionOfExplorationAndEvaluationAssets" id="emx_GainOnAcquisitionOfExplorationAndEvaluationAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="AnnualCashPaymentsFromSharePurchaseAgreement" id="emx_AnnualCashPaymentsFromSharePurchaseAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/>
  <xsd:element name="ConditionOfSharePurchaseAgreementProductionReturns" id="emx_ConditionOfSharePurchaseAgreementProductionReturns" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" id="emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="ProceedsFromAdvanceRoyaltyPayment" id="emx_ProceedsFromAdvanceRoyaltyPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ProceedsFromAnAdjustedRoyaltyPayment" id="emx_ProceedsFromAnAdjustedRoyaltyPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="GolcukTransferAndRoyaltyAgreementSharesReceived" id="emx_GolcukTransferAndRoyaltyAgreementSharesReceived" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" id="emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" id="emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ProceedsFromSaleOfExplorationAndEvaluationAssets" id="emx_ProceedsFromSaleOfExplorationAndEvaluationAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
  <xsd:element name="ExplorationIncomeAsOptionPayments" id="emx_ExplorationIncomeAsOptionPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="RoyaltyInterestsAxis" id="emx_RoyaltyInterestsAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="RoyaltyInterestsDomain" id="emx_RoyaltyInterestsDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="MaggieCreekMember" id="emx_MaggieCreekMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="AfganMember" id="emx_AfganMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="LeevilleMineMember" id="emx_LeevilleMineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="EastOreBodyMineMember" id="emx_EastOreBodyMineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NorthPipelineMember" id="emx_NorthPipelineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" id="emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" id="emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="NetSmelterReturnRoyaltyAcquired" id="emx_NetSmelterReturnRoyaltyAcquired" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrossSmelterReturnRoyalty" id="emx_GrossSmelterReturnRoyalty" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="DescriptionOfProductionRoyalty" id="emx_DescriptionOfProductionRoyalty" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GoldTaxPercentage" id="emx_GoldTaxPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="StockOptionsByDateGrantedAxis" id="emx_StockOptionsByDateGrantedAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="StockOptionsByDateGrantedDomain" id="emx_StockOptionsByDateGrantedDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedJulyFiveTwoZeroOneTwoMember" id="emx_GrantedJulyFiveTwoZeroOneTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedAugustTwoTwoTwoZeroOneTwoMember" id="emx_GrantedAugustTwoTwoTwoZeroOneTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedOctoberOneSixTwoZeroOneTwoMember" id="emx_GrantedOctoberOneSixTwoZeroOneTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedAprilTwoFiveTwoZeroOneFourMember" id="emx_GrantedAprilTwoFiveTwoZeroOneFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedJuneTwoSixTwoZeroOneFourMember" id="emx_GrantedJuneTwoSixTwoZeroOneFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedDecemberTwoTwoTwoZeroOneFourMember" id="emx_GrantedDecemberTwoTwoTwoZeroOneFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedJuneEightTwoZeroOneFiveMember" id="emx_GrantedJuneEightTwoZeroOneFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedOctoberOneEightTwoZeroOneSixMember" id="emx_GrantedOctoberOneEightTwoZeroOneSixMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="GrantedAugustTwoEightTwoZeroOneSevenMember" id="emx_GrantedAugustTwoEightTwoZeroOneSevenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SharesIssuedForServicesMember" id="emx_SharesIssuedForServicesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CommitmentToIssueBonusSharesMember" id="emx_CommitmentToIssueBonusSharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="RestrictedShareUnitsVestedMember" id="emx_RestrictedShareUnitsVestedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="FairValueOfStockOptionsGrantedMember" id="emx_FairValueOfStockOptionsGrantedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="EquityIssuancePricePerUnit" id="emx_EquityIssuancePricePerUnit" type="num:perShareItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="ShareIssueCosts" id="emx_ShareIssueCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" id="emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" id="emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="SharesIssuedPursuantToAnIncentiveStockGrantProgram" id="emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" id="emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="IncreaseDecreaseThroughEmploymentAndConsultingAgreements" id="emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="IncreaseDecreateThroughSharesIssuedForPropertyShares" id="emx_IncreaseDecreateThroughSharesIssuedForPropertyShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="IncreaseDecreateThroughSharesIssuedForProperty" id="emx_IncreaseDecreateThroughSharesIssuedForProperty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="DescriptionOfStockOptionPlan" id="emx_DescriptionOfStockOptionPlan" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="DescriptionOfOptionVestingSchedule" id="emx_DescriptionOfOptionVestingSchedule" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="RestrictedShareUnitsFairValuePerUnitOnGrantDate" id="emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="WeightedAverageFairValueOfTheStockOptionsGranted" id="emx_WeightedAverageFairValueOfTheStockOptionsGranted" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="credit"/>
  <xsd:element name="IncomeTaxRatesAxis" id="emx_IncomeTaxRatesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="IncomeTaxRatesDomain" id="emx_IncomeTaxRatesDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" id="emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" id="emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration"/>
  <xsd:element name="WorkingCapital" id="emx_WorkingCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant" xbrli:balance="debit"/>
  <xsd:element name="PotentialChangeInMarketPrices" id="emx_PotentialChangeInMarketPrices" type="num:percentItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="instant"/>
  <xsd:element name="RoyalInterestCumulativeTranslationAdjustments" id="emx_RoyalInterestCumulativeTranslationAdjustments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" xbrli:balance="debit"/>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762159792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2017<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">emx<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">EMX Royalty Corp<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001285786<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Non-accelerated Filer<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">79,746,271<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well Known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2017<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762746992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>Current Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 3,533,611<span></span>
</td>
<td class="nump">$ 3,199,686<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Investments</a></td>
<td class="nump">1,139,447<span></span>
</td>
<td class="nump">262,756<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Receivables</a></td>
<td class="nump">3,376,411<span></span>
</td>
<td class="nump">3,430,006<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepaidExpenses', window );">Prepaid expenses</a></td>
<td class="nump">45,194<span></span>
</td>
<td class="nump">28,496<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total current assets</a></td>
<td class="nump">8,094,663<span></span>
</td>
<td class="nump">6,920,944<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsAbstract', window );"><strong>Non-current Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">771,434<span></span>
</td>
<td class="nump">359,172<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Receivables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,412,727<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment</a></td>
<td class="nump">450,278<span></span>
</td>
<td class="nump">471,704<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLoansAndReceivables', window );">Notes receivable</a></td>
<td class="nump">429,973<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investment in associated companies</a></td>
<td class="nump">7,578,989<span></span>
</td>
<td class="nump">4,992,823<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StrategicInvestments', window );">Strategic investments</a></td>
<td class="nump">2,199,199<span></span>
</td>
<td class="nump">212,798<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Exploration and evaluation assets</a></td>
<td class="nump">1,841,966<span></span>
</td>
<td class="nump">2,145,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterest', window );">Royalty interest</a></td>
<td class="nump">21,943,743<span></span>
</td>
<td class="nump">25,831,152<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclamationBonds', window );">Reclamation bonds</a></td>
<td class="nump">515,748<span></span>
</td>
<td class="nump">639,427<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">1,820,307<span></span>
</td>
<td class="nump">4,753,324<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentAssets', window );">Other assets</a></td>
<td class="nump">104,484<span></span>
</td>
<td class="nump">104,484<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Total non-current assets</a></td>
<td class="nump">37,656,121<span></span>
</td>
<td class="nump">40,922,611<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">45,750,784<span></span>
</td>
<td class="nump">47,843,555<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>Current Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">749,865<span></span>
</td>
<td class="nump">577,265<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdvancesFromJointVenturePartners', window );">Advances from joint venture partners</a></td>
<td class="nump">808,905<span></span>
</td>
<td class="nump">341,361<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="nump">1,558,770<span></span>
</td>
<td class="nump">918,626<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilitiesAbstract', window );"><strong>Non-current Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liability</a></td>
<td class="nump">1,820,307<span></span>
</td>
<td class="nump">4,753,324<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">TOTAL LIABILITIES</a></td>
<td class="nump">3,379,077<span></span>
</td>
<td class="nump">5,671,950<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>SHAREHOLDERS' EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Capital stock</a></td>
<td class="nump">124,062,091<span></span>
</td>
<td class="nump">117,504,585<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CommitmentToIssueShares', window );">Commitment to issue shares</a></td>
<td class="nump">23,825<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReserves', window );">Reserves</a></td>
<td class="nump">22,668,535<span></span>
</td>
<td class="nump">21,656,380<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Deficit</a></td>
<td class="num">(104,382,744)<span></span>
</td>
<td class="num">(96,989,360)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">TOTAL SHAREHOLDERS' EQUITY</a></td>
<td class="nump">42,371,707<span></span>
</td>
<td class="nump">42,171,605<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</a></td>
<td class="nump">$ 45,750,784<span></span>
</td>
<td class="nump">$ 47,843,555<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdvancesFromJointVenturePartners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advances from joint venture partners</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdvancesFromJointVenturePartners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CommitmentToIssueShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commitment to issue shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CommitmentToIssueShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ReclamationBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reclamation bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ReclamationBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StrategicInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Strategic investments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StrategicInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaidExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaidExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLoansAndReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current loans and receivables. [Refer: Loans and receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_c&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLoansAndReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets that the entity does not separately disclose in the same statement or note. [Refer: Non-current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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</body>
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<DOCUMENT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762874896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF LOSS - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRoyalties', window );">ROYALTY INCOME</a></td>
<td class="nump">$ 2,857,927<span></span>
</td>
<td class="nump">$ 2,227,322<span></span>
</td>
<td class="nump">$ 1,609,553<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CostOfSalesAbstract', window );"><strong>Cost of sales</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GoldTax', window );">Gold tax</a></td>
<td class="num">(120,618)<span></span>
</td>
<td class="num">(111,366)<span></span>
</td>
<td class="num">(80,478)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_Depletion', window );">Depletion</a></td>
<td class="num">(2,282,276)<span></span>
</td>
<td class="num">(2,163,221)<span></span>
</td>
<td class="num">(1,716,848)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Net royalty (loss) income</a></td>
<td class="nump">455,033<span></span>
</td>
<td class="num">(47,265)<span></span>
</td>
<td class="num">(187,773)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">EXPLORATION EXPENDITURES</a></td>
<td class="nump">6,334,119<span></span>
</td>
<td class="nump">6,415,533<span></span>
</td>
<td class="nump">5,948,802<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Less: recoveries</a></td>
<td class="num">(1,863,045)<span></span>
</td>
<td class="num">(1,415,574)<span></span>
</td>
<td class="num">(1,584,127)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net exploration expenditures</a></td>
<td class="nump">4,471,074<span></span>
</td>
<td class="nump">4,999,959<span></span>
</td>
<td class="nump">4,364,675<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseByNatureAbstract', window );"><strong>GENERAL AND ADMINISTRATIVE EXPENSES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Administrative and office</a></td>
<td class="nump">724,519<span></span>
</td>
<td class="nump">721,645<span></span>
</td>
<td class="nump">900,453<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="nump">28,622<span></span>
</td>
<td class="nump">114,489<span></span>
</td>
<td class="nump">116,119<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_InvestorRelationsAndShareholderInformation', window );">Investor relations and shareholder information</a></td>
<td class="nump">389,222<span></span>
</td>
<td class="nump">274,966<span></span>
</td>
<td class="nump">218,731<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfessionalFeesExpense', window );">Professional fees</a></td>
<td class="nump">664,295<span></span>
</td>
<td class="nump">510,533<span></span>
</td>
<td class="nump">574,067<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WagesAndSalaries', window );">Salaries and consultants</a></td>
<td class="nump">1,023,831<span></span>
</td>
<td class="nump">894,166<span></span>
</td>
<td class="nump">961,108<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees', window );">Share-based payments</a></td>
<td class="nump">676,054<span></span>
</td>
<td class="nump">467,939<span></span>
</td>
<td class="nump">470,116<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_TransferAgentAndFilingFees', window );">Transfer agent and filing fees</a></td>
<td class="nump">168,445<span></span>
</td>
<td class="nump">165,040<span></span>
</td>
<td class="nump">107,566<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TravelExpense', window );">Travel</a></td>
<td class="nump">90,041<span></span>
</td>
<td class="nump">71,561<span></span>
</td>
<td class="nump">187,374<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Total general and administrative expenses</a></td>
<td class="nump">3,765,029<span></span>
</td>
<td class="nump">3,220,339<span></span>
</td>
<td class="nump">3,535,534<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Loss from operations</a></td>
<td class="num">(7,781,070)<span></span>
</td>
<td class="num">(8,267,563)<span></span>
</td>
<td class="num">(8,087,982)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Change in fair value of fair value throught profit or loss investments</a></td>
<td class="nump">122,191<span></span>
</td>
<td class="nump">258,702<span></span>
</td>
<td class="num">(427,022)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax', window );">Permanent loss recorded in the fair value of available for sale investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(697,675)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets', window );">Gain on acquisition and sale of exploration and evaluation assets</a></td>
<td class="nump">1,305,237<span></span>
</td>
<td class="nump">6,834,999<span></span>
</td>
<td class="nump">5,393,305<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity loss in associated companies</a></td>
<td class="num">(994,548)<span></span>
</td>
<td class="num">(1,295,568)<span></span>
</td>
<td class="num">(1,062,146)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DilutionGainInAssociatedCompanies', window );">Dilution gain in associated companies</a></td>
<td class="nump">503,543<span></span>
</td>
<td class="nump">982,634<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Foreign exchange gain (loss)</a></td>
<td class="num">(659,473)<span></span>
</td>
<td class="num">(159,862)<span></span>
</td>
<td class="nump">1,220,085<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfInvestments', window );">Realized gain (loss) on sale of investments</a></td>
<td class="nump">83,345<span></span>
</td>
<td class="num">(287,204)<span></span>
</td>
<td class="num">(58,360)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Interest and other gains on derivative instruments</a></td>
<td class="nump">246,728<span></span>
</td>
<td class="nump">16,328<span></span>
</td>
<td class="num">(172,168)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ImpairmentOfRoyaltyInterest', window );">Impairment of royalty interest</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(3,973,699)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WriteOffOfExplorationAndEvaluationAssets', window );">Write-off of exploration and evaluation assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(56,085)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables', window );">Impairment of accounts receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(51,302)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill', window );">Writedown of goodwill</a></td>
<td class="num">(2,709,239)<span></span>
</td>
<td class="num">(1,518,328)<span></span>
</td>
<td class="num">(3,047,605)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment', window );">Gain (loss) on derecognition and sale of property and equipment</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">10,723<span></span>
</td>
<td class="nump">15,892<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Loss before income taxes</a></td>
<td class="num">(9,883,286)<span></span>
</td>
<td class="num">(4,122,814)<span></span>
</td>
<td class="num">(10,307,087)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncome', window );">Deferred income tax recovery</a></td>
<td class="nump">2,489,902<span></span>
</td>
<td class="nump">1,439,332<span></span>
</td>
<td class="nump">3,431,230<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">$ (7,393,384)<span></span>
</td>
<td class="num">$ (2,683,482)<span></span>
</td>
<td class="num">$ (6,875,857)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicAndDilutedEarningsLossPerShare', window );">Basic and diluted loss per share</a></td>
<td class="num">$ (0.09)<span></span>
</td>
<td class="num">$ (0.04)<span></span>
</td>
<td class="num">$ (0.09)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Weighted average number of common shares outstanding</a></td>
<td class="nump">78,002,082<span></span>
</td>
<td class="nump">73,874,415<span></span>
</td>
<td class="nump">73,480,833<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CostOfSalesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost of sales</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CostOfSalesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_Depletion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Depletion</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_Depletion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DilutionGainInAssociatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dilution gain in associated companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DilutionGainInAssociatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) on acquisition and sale of exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GoldTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gold tax</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GoldTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ImpairmentOfRoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ImpairmentOfRoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_InvestorRelationsAndShareholderInformation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investor relations and shareholder information</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_InvestorRelationsAndShareholderInformation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NetExplorationExpenditures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net exploration expenditures</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetExplorationExpenditures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_TransferAgentAndFilingFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transfer agent and filing fees</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_TransferAgentAndFilingFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WriteOffOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Write-off of exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WriteOffOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity classifies as being administrative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicAndDilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of earnings per share when the basic and diluted measurements are equal. [Refer: Basic earnings (loss) per share; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicAndDilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseByNatureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseByNatureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from share-based payment transactions with employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnDisposalsOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on disposals of investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnDisposalsOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on disposals of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Section A Statement of cash flows for an entity other than a financial institution<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=sect_AStatementofcashflowsforanentityotherthanafinancialinstitution&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2017-01-01<br> -Paragraph 52<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=21&amp;date=2017-03-01&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for goodwill. [Refer: Impairment loss recognised in profit or loss; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for trade receivables. [Refer: Impairment loss recognised in profit or loss; Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources, after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense arising from interest. [Refer: Interest expense; Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfessionalFeesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable for professional services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfessionalFeesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2017-01-01<br> -Paragraph IE33<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=32&amp;date=2017-03-01&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reclassification adjustments related to available-for-sale financial assets, net of tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 92<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_92&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRoyalties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from royalties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_iv&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRoyalties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TravelExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from travel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TravelExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WagesAndSalaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 9<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WagesAndSalaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6751391968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">$ (7,393,384)<span></span>
</td>
<td class="num">$ (2,683,482)<span></span>
</td>
<td class="num">$ (6,875,857)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAbstract', window );"><strong>Other comprehensive income (loss)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Change in fair value of available-for-sale investments</a></td>
<td class="nump">609,733<span></span>
</td>
<td class="nump">88,515<span></span>
</td>
<td class="num">(105,714)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax', window );">Permanent loss on financial instruments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">697,675<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Currency translation adjustment</a></td>
<td class="num">(1,424,814)<span></span>
</td>
<td class="num">(862,335)<span></span>
</td>
<td class="nump">4,350,667<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Comprehensive loss for the year</a></td>
<td class="num">$ (8,208,465)<span></span>
</td>
<td class="num">$ (2,759,627)<span></span>
</td>
<td class="num">$ (2,630,904)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on remeasuring available-for-sale financial assets, net of tax. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_91_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reclassification adjustments related to available-for-sale financial assets, net of tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 92<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_92&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763657824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">$ (7,393,384)<span></span>
</td>
<td class="num">$ (2,683,482)<span></span>
</td>
<td class="num">$ (6,875,857)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ItemsNotAffectingOperatingActivitiesAbstract', window );"><strong>Items not affecting operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForInterestIncome', window );">Interest income received</a></td>
<td class="num">(254,261)<span></span>
</td>
<td class="num">(5,590)<span></span>
</td>
<td class="num">(22,270)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents', window );">Unrealized foreign exchange effect on cash and cash equivalents</a></td>
<td class="num">(173,740)<span></span>
</td>
<td class="num">(71,562)<span></span>
</td>
<td class="nump">290,504<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract', window );"><strong>Items not affecting cash:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments', window );">Change in fair value of fair value throught profit or loss investments</a></td>
<td class="num">(122,191)<span></span>
</td>
<td class="num">(258,702)<span></span>
</td>
<td class="nump">427,022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForCommitmentToIssueShares', window );">Commitment to issue shares</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">27,462<span></span>
</td>
<td class="nump">66,089<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForPermanentLossOnFinancialInstruments', window );">Permanent loss on financial instruments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">697,675<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForInterestOnNotesReceivable', window );">Interest on notes receivable</a></td>
<td class="num">(81,850)<span></span>
</td>
<td class="num">(58,342)<span></span>
</td>
<td class="num">(53,222)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForAccretionInterestOnLongTermReceivable', window );">Accretion interest on receivable</a></td>
<td class="num">(167,718)<span></span>
</td>
<td class="num">(72,806)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForDerivativeLossOnAccountsReceivable', window );">Derivative loss on accounts receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">120,900<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Share - based payments</a></td>
<td class="nump">1,415,639<span></span>
</td>
<td class="nump">943,334<span></span>
</td>
<td class="nump">476,424<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDeferredTaxExpense', window );">Deferred income tax recovery</a></td>
<td class="num">(2,489,902)<span></span>
</td>
<td class="num">(1,439,332)<span></span>
</td>
<td class="num">(3,431,230)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense', window );">Depreciation</a></td>
<td class="nump">39,344<span></span>
</td>
<td class="nump">136,200<span></span>
</td>
<td class="nump">150,782<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForDepletion', window );">Depletion</a></td>
<td class="nump">2,282,276<span></span>
</td>
<td class="nump">2,163,221<span></span>
</td>
<td class="nump">1,716,848<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForImpairmentOfRoyaltyInterest', window );">Impairment of royalty interest</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,973,699<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill', window );">Writedown of goodwill</a></td>
<td class="nump">2,709,239<span></span>
</td>
<td class="nump">1,518,328<span></span>
</td>
<td class="nump">3,047,605<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables', window );">Impairment of receivables</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">51,302<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments', window );">Realized (gain) loss on sale of investments</a></td>
<td class="num">(83,345)<span></span>
</td>
<td class="nump">287,204<span></span>
</td>
<td class="nump">58,360<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets', window );">Gain on acquistion and sale of exploration and evalution assets</a></td>
<td class="num">(1,305,237)<span></span>
</td>
<td class="num">(6,834,999)<span></span>
</td>
<td class="num">(5,393,305)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment', window );">(Gain) loss on derecognition and sale of property and equipment</a></td>
<td class="num">(29,766)<span></span>
</td>
<td class="num">(10,723)<span></span>
</td>
<td class="num">(15,892)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets', window );">Write-off of exploration and evaluation assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">56,086<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod', window );">Equity loss in associated companies</a></td>
<td class="nump">994,548<span></span>
</td>
<td class="nump">1,295,568<span></span>
</td>
<td class="nump">1,062,146<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForDilutionGainInAssociatedCompanies', window );">Dilution gain in associated companies</a></td>
<td class="num">(503,543)<span></span>
</td>
<td class="num">(982,634)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains', window );">Unrealized foreign exchange (gain) loss</a></td>
<td class="nump">597<span></span>
</td>
<td class="num">(67,249)<span></span>
</td>
<td class="num">(466,587)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries', window );">Shares received from joint venture partners included in exploration recoveries</a></td>
<td class="num">(810,521)<span></span>
</td>
<td class="num">(134,738)<span></span>
</td>
<td class="num">(115,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ChangesInNonCashWorkingCapitalItemsAbstract', window );"><strong>Changes in non-cash working capital items:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable', window );">Receivables</a></td>
<td class="nump">1,908,945<span></span>
</td>
<td class="num">(6,343)<span></span>
</td>
<td class="nump">101,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets', window );">Prepaid expenses</a></td>
<td class="num">(16,698)<span></span>
</td>
<td class="nump">3,848<span></span>
</td>
<td class="nump">21,366<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">172,600<span></span>
</td>
<td class="num">(86,317)<span></span>
</td>
<td class="nump">83,056<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners', window );">Advances from joint venture partners</a></td>
<td class="nump">467,544<span></span>
</td>
<td class="nump">203,536<span></span>
</td>
<td class="num">(291,350)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Total cash used in operating activities</a></td>
<td class="num">(3,441,424)<span></span>
</td>
<td class="num">(5,315,543)<span></span>
</td>
<td class="num">(5,082,224)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived', window );">Acquisition and sale of exploration and evaluation assets, net of option payments received</a></td>
<td class="nump">161,048<span></span>
</td>
<td class="nump">3,005,280<span></span>
</td>
<td class="nump">5,297,357<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestReceivedClassifiedAsInvestingActivities', window );">Interest received on cash and cash equivalents</a></td>
<td class="nump">86,543<span></span>
</td>
<td class="nump">5,590<span></span>
</td>
<td class="nump">22,270<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities', window );">Notes receivable</a></td>
<td class="num">(1,405,277)<span></span>
</td>
<td class="num">(542,622)<span></span>
</td>
<td class="num">(973,236)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod', window );">Proceeds from sale of fair value through profit and loss investments, net</a></td>
<td class="nump">139,365<span></span>
</td>
<td class="nump">130,737<span></span>
</td>
<td class="nump">136,263<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments', window );">Proceeds of available-for-sale financial instruments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">17,375<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod', window );">Purchase of investments in associated companies</a></td>
<td class="num">(2,059,631)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="num">(412,262)<span></span>
</td>
<td class="num">(89,402)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_PurchaseAndSaleOfPropertyAndEquipmentNet', window );">Purchase and sale of property and equipment, net</a></td>
<td class="num">(24,784)<span></span>
</td>
<td class="num">(16,999)<span></span>
</td>
<td class="nump">2,403<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_PurchaseAndProceedsFromReclamationBonds', window );">Reclamation bonds</a></td>
<td class="nump">123,679<span></span>
</td>
<td class="nump">171,307<span></span>
</td>
<td class="nump">71,964<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Total cash provided by (used in) investing activities</a></td>
<td class="num">(3,391,319)<span></span>
</td>
<td class="nump">2,681,266<span></span>
</td>
<td class="nump">4,557,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds received from private placement, net of share issue costs</a></td>
<td class="nump">6,907,228<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromExerciseOfOptions', window );">Proceeds from exercise of options</a></td>
<td class="nump">85,700<span></span>
</td>
<td class="nump">127,800<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Total cash provided by financing activities</a></td>
<td class="nump">6,992,928<span></span>
</td>
<td class="nump">127,800<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of exchange rate changes on cash and cash equivalents</a></td>
<td class="nump">173,740<span></span>
</td>
<td class="nump">71,562<span></span>
</td>
<td class="num">(290,504)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Change in cash and cash equivalents</a></td>
<td class="nump">333,925<span></span>
</td>
<td class="num">(2,434,915)<span></span>
</td>
<td class="num">(815,707)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents, beginning</a></td>
<td class="nump">3,199,686<span></span>
</td>
<td class="nump">5,634,601<span></span>
</td>
<td class="nump">6,450,308<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents, ending</a></td>
<td class="nump">$ 3,533,611<span></span>
</td>
<td class="nump">$ 3,199,686<span></span>
</td>
<td class="nump">$ 5,634,601<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition and sale of exploration and evaluation assets, net option payments received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AcquisitionAndSaleOfExplorationAndEvaluationAssetsNetOptionPaymentsReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForAccretionInterestOnLongTermReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accretion interest on receivable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForAccretionInterestOnLongTermReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in fair value of fair value through profit or loss investments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForChangeInFairValueOfFairValueThroughProfitOrLossInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForCommitmentToIssueShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commitment to issue shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForCommitmentToIssueShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForDepletion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Depletion</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForDepletion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForDerivativeLossOnAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative loss on accounts receivable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForDerivativeLossOnAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForDilutionGainInAssociatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dilution gain in associated companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForDilutionGainInAssociatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain on acquistion and sale of exploration and evalution assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForGainOnAcquistionAndSaleOfExplorationAndEvalutionAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForImpairmentOfRoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForImpairmentOfRoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advances from joint venture partners</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForIncreaseDecreaseInAdvancesFromJointVenturePartners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForInterestOnNotesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest on notes receivable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForInterestOnNotesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForPermanentLossOnFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Permanent loss on financial instruments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForPermanentLossOnFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Realized (gain) loss on sale of investments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForRealizedGainLossOnSaleOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares received from joint venture partners included in exploration recoveries</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForSharesReceivedFromJointVenturePartnersIncludedInExplorationRecoveries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrealized foreign exchange effect on cash and cash equivalents</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForUnrealizedForeignExchangeEffectOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Write-off of exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdjustmentsForWriteOffOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ChangesInNonCashWorkingCapitalItemsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in non-cash working capital items:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ChangesInNonCashWorkingCapitalItemsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ItemsNotAffectingOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Items not affecting operating activities:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ItemsNotAffectingOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds of available-for-sale financial instruments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsPurchaseOfAvailableForSaleFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_PurchaseAndProceedsFromReclamationBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reclamation bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_PurchaseAndProceedsFromReclamationBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_PurchaseAndSaleOfPropertyAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchase and sale of property and equipment, net</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_PurchaseAndSaleOfPropertyAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in other current assets to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Other current assets; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in trade accounts receivable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDeferredTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for deferred tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deferred tax expense (income); Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDeferredTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Depreciation and amortisation expense; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gain (loss) on disposals of property, plant and equipment to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss); Property, plant and equipment; Disposals, property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for impairment loss on goodwill recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Goodwill; Impairment loss; Impairment loss recognised in profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for impairment loss (reversal of impairment loss) on trade and other receivables recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Trade and other receivables; Impairment loss; Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss; Impairment loss (reversal of impairment loss) recognised in profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in trade accounts payable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForInterestIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for interest income expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Interest income; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForInterestIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for undistributed profits of investments accounted for using the equity method to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for unrealised foreign exchange losses (gains) to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash advances and loans made to other parties (other than advances and loans made by a financial institution), classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivedClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from interest received, classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivedClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of investments other than investments accounted for using the equity method. [Refer: Investments accounted for using equity method; Investments other than investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of interests in investments accounted for using the equity method. [Refer: Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6764079936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY - CAD ($)<br></strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Capital stock [Member]</div></th>
<th class="th"><div>Commitment to issue shares [Member]</div></th>
<th class="th"><div>Share-based payments [Member]</div></th>
<th class="th"><div>Accumulated other comprehensive gain (loss) [Member]</div></th>
<th class="th"><div>Deficit [Member]</div></th>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Beginning Balance at Dec. 31, 2014</a></td>
<td class="nump">$ 45,086,327<span></span>
</td>
<td class="nump">$ 116,766,102<span></span>
</td>
<td class="nump">$ 306,999<span></span>
</td>
<td class="nump">$ 9,562,905<span></span>
</td>
<td class="nump">$ 5,880,342<span></span>
</td>
<td class="num">$ (87,430,021)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Beginning Balance (Shares) at Dec. 31, 2014</a></td>
<td class="nump">73,371,710<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants', window );">Shares issued as incentive stock grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">233,950<span></span>
</td>
<td class="num">(233,950)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares', window );">Shares issued as incentive stock grants (Shares)</a></td>
<td class="nump">163,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Shares issued for exercise of options</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions', window );">Shares issued for exercise of options (Shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments', window );">Equity investment share-based payments</a></td>
<td class="nump">$ 322,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">322,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughCommitmentToIssueShares', window );">Commitment to issue shares</a></td>
<td class="nump">66,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share - based payments</a></td>
<td class="nump">476,424<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">476,424<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Foreign currency translation adjustment</a></td>
<td class="nump">4,350,667<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,350,667<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Change in fair value of financial instruments</a></td>
<td class="num">(105,714)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(105,714)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax', window );">Permanent loss on financial instruments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">(6,875,857)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,875,857)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Ending Balance at Dec. 31, 2015</a></td>
<td class="nump">$ 43,320,836<span></span>
</td>
<td class="nump">117,000,052<span></span>
</td>
<td class="nump">139,138<span></span>
</td>
<td class="nump">10,362,229<span></span>
</td>
<td class="nump">10,125,295<span></span>
</td>
<td class="num">(94,305,878)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Ending Balance (Shares) at Dec. 31, 2015</a></td>
<td class="nump">73,534,710<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest', window );">Shares issued for acquisition of a royalty interest</a></td>
<td class="nump">$ 145,000<span></span>
</td>
<td class="nump">145,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares', window );">Shares issued for acquisition of a royalty interest (Shares)</a></td>
<td class="nump">250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants', window );">Shares issued as incentive stock grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">166,600<span></span>
</td>
<td class="num">(166,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares', window );">Shares issued as incentive stock grants (Shares)</a></td>
<td class="nump">140,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Shares issued for exercise of options</a></td>
<td class="nump">$ 127,800<span></span>
</td>
<td class="nump">127,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions', window );">Shares issued for exercise of options (Shares)</a></td>
<td class="nump">165,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments', window );">Equity investment share-based payments</a></td>
<td class="nump">$ 366,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">366,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughCommitmentToIssueShares', window );">Commitment to issue shares</a></td>
<td class="nump">970,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,462<span></span>
</td>
<td class="nump">943,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclassOfReservesOnExerciseOfOptions', window );">Reclass of reserves on exercise of options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">65,133<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(65,133)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Foreign currency translation adjustment</a></td>
<td class="num">(862,335)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(862,335)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Change in fair value of financial instruments</a></td>
<td class="nump">88,515<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">88,515<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax', window );">Permanent loss on financial instruments</a></td>
<td class="nump">697,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">697,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">(2,683,482)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,683,482)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Ending Balance at Dec. 31, 2016</a></td>
<td class="nump">$ 42,171,605<span></span>
</td>
<td class="nump">117,504,585<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,607,230<span></span>
</td>
<td class="nump">10,049,150<span></span>
</td>
<td class="num">(96,989,360)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Ending Balance (Shares) at Dec. 31, 2016</a></td>
<td class="nump">74,089,710<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Shares issued for exercise of options</a></td>
<td class="nump">$ 85,700<span></span>
</td>
<td class="nump">85,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions', window );">Shares issued for exercise of options (Shares)</a></td>
<td class="nump">75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Shares issued for private placement</a></td>
<td class="nump">$ 7,000,000<span></span>
</td>
<td class="nump">6,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued for private placement (Shares)</a></td>
<td class="nump">5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits', window );">Finder's fees in units</a></td>
<td class="nump">$ 345,246<span></span>
</td>
<td class="nump">305,789<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares', window );">Finder's fees in units (Shares)</a></td>
<td class="nump">246,604<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share - based payments</a></td>
<td class="nump">$ 1,415,639<span></span>
</td>
<td class="nump">358,490<span></span>
</td>
<td class="nump">23,825<span></span>
</td>
<td class="nump">1,033,324<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions', window );">Share - based payments (Shares)</a></td>
<td class="nump">313,873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits', window );">Share issuance costs in units</a></td>
<td class="num">$ (345,246)<span></span>
</td>
<td class="num">(345,246)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Share issuance costs in cash</a></td>
<td class="num">(92,772)<span></span>
</td>
<td class="num">(92,772)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclassOfReservesOnExerciseOfOptions', window );">Reclass of reserves on exercise of options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(45,545)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Foreign currency translation adjustment</a></td>
<td class="num">(1,424,814)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,424,814)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Change in fair value of financial instruments</a></td>
<td class="nump">609,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">609,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnAvailableforsaleFinancialAssetsNetOfTax', window );">Permanent loss on financial instruments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">(7,393,384)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,393,384)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Ending Balance at Dec. 31, 2017</a></td>
<td class="nump">$ 42,371,707<span></span>
</td>
<td class="nump">$ 124,062,091<span></span>
</td>
<td class="nump">$ 23,825<span></span>
</td>
<td class="nump">$ 13,434,466<span></span>
</td>
<td class="nump">$ 9,234,069<span></span>
</td>
<td class="num">$ (104,382,744)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Ending Balance (Shares) at Dec. 31, 2017</a></td>
<td class="nump">79,725,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for exercise of options (shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughCommitmentToIssueShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commitment to issue shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughCommitmentToIssueShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity investment share-based payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Finder's fees in units</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughFinderSFeesInUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Finder's fees in units (Shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share issuance costs in units</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughShareIssuanceCostsInUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued as incentive stock grants</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued as incentive stock grants (Shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for acquisition of a royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for acquisition of a royalty interest (Shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ReclassOfReservesOnExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reclass of reserves on exercise of options</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ReclassOfReservesOnExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on remeasuring available-for-sale financial assets, net of tax. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_91_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of shares outstanding. [Refer: Number of shares outstanding]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reclassification adjustments related to available-for-sale financial assets, net of tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 92<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_92&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749907888">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NATURE OF OPERATIONS AND GOING CONCERN<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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      <b>1. NATURE OF OPERATIONS AND GOING CONCERN</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">EMX Royalty Corporation (the &#8220;Company&#8221; or &#8220;EMX&#8221;) and its subsidiaries operates as a royalty and prospect generator engaged in the exploring for, and generating royalties from, metals and minerals properties. The Company&#8217;s royalty and exploration portfolio mainly consists of properties in North America, Turkey, Europe, Haiti, Australia, and New Zealand. The Company&#8217;s common shares are listed on the TSX Venture Exchange (&#8220;TSX-V&#8221;) and the NYSE MKT under the symbol of &#8220;EMX&#8221;. The Company&#8217;s head office is located at 501 - 543 Granville Street, Vancouver, British Columbia, Canada V6C 1X8.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">On July 19, 2017 the Company officially changed its name to EMX Royalty Corporation, formerly Eurasian Minerals Inc.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">These consolidated financial statements have been prepared using International Financial Reporting Standards (&#8220;IFRS&#8221;) applicable to a going concern, which assumes that the Company will be able to realize its assets, discharge its liabilities and continue in operation for the following twelve months.</p>
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      With its current plans for the year and the budgets associated with those plans, in order to continue funding its administrative and royalty generation programs from the date of these consolidated financial statements, management believes it will require additional working capital to undertake it&#8217;s current business plan. The Company has incurred recurring losses and has an accumulated deficit of $104,382,744. In order to maintain or adjust the capital structure, the Company may issue new shares through public and/or private placements, sell assets, or return capital to shareholders. These uncertainties may cast doubt upon the Company&#8217;s ability to continue as a going concern.
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Some of the Company&#8217;s activities for exploration and evaluation assets are located in emerging nations and, consequently, may be subject to a higher level of risk compared to other developed countries. Operations, the status of mineral property rights and the recoverability of investments in emerging nations can be affected by changing economic, legal, regulatory and political situations.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">At the date of these consolidated financial statements, the Company has not identified a known body of commercial grade mineral on any of its exploration and evaluation assets. The ability of the Company to realize the costs it has incurred to date on these exploration and evaluation assets is dependent upon the Company identifying a commercial mineral body, to finance its development costs and to resolve any environmental, regulatory or other constraints which may hinder the successful development of the exploration and evaluation assets.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">These consolidated financial statements of the Company are presented in Canadian dollars unless otherwise noted, which is the functional currency of the parent company and its subsidiaries except as to Bullion Monarch Mining, Inc., the holder of a royalty income stream whose functional currency is the United States (&#8220;US&#8221;) dollar.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the basis used for the preparation of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6750021520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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      <b>Statement of Compliance</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">These consolidated financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board (&#8220;IASB&#8221;) and interpretations of the International Financial Reporting Interpretations Committee (&#8220;IFRIC&#8221;).</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">These consolidated financial statements have been prepared on a historical cost basis, except for financial instruments classified as fair value through profit or loss or available for sale, which are stated at their fair value. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting except for cash flow information.</p>
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      <b>Summary of Significant Accounting Policies</b>
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          <b>Basis of Consolidation</b>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The consolidated financial statements comprise the accounts of EMX Royalty Corp., the parent company, and its controlled subsidiaries, after the elimination of all significant intercompany balances and transactions.</p>
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          <i>Subsidiaries</i>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Subsidiaries are all entities over which the Company has exposure to variable returns from its involvement and has the ability to use power over the investee to affect its returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Company controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company until the date on which control ceases.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The accounts of subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. Inter-company transactions, balances and unrealized gains or losses on transactions are eliminated. The Company&#8217;s principal operating subsidiaries are as follows:</p>
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                </tr>
                <tr valign="top">
                  <td align="left" bgcolor="#e6efff" valign="bottom">Bullion Monarch Mining, Inc</td>
                  <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Utah, USA</td>
                  <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" valign="bottom">EMX (USA) Services Corp.</td>
                  <td align="left" valign="bottom" width="25%">Nevada, USA</td>
                  <td align="right" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" bgcolor="#e6efff" valign="bottom">Bronco Creek Exploration Inc.</td>
                  <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Arizona, USA</td>
                  <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" valign="bottom">Eurasia Madencilik Ltd. Sirketi</td>
                  <td align="left" valign="bottom" width="25%">Turkey</td>
                  <td align="right" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" bgcolor="#e6efff" valign="bottom">Azur Madencilik Ltd. Sirketi</td>
                  <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Turkey</td>
                  <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" valign="bottom">Eurasian Minerals Cooperatief U.A.</td>
                  <td align="left" valign="bottom" width="25%">Netherlands</td>
                  <td align="right" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" bgcolor="#e6efff" valign="bottom">Eurasian Minerals Sweden AB</td>
                  <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Sweden</td>
                  <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" valign="bottom">Viad Royalties AB</td>
                  <td align="left" valign="bottom" width="25%">Sweden</td>
                  <td align="right" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
                <tr valign="top">
                  <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Waikato Gold Limited</td>
                  <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%">New Zealand</td>
                  <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%">
                    100%
                  </td>
                </tr>
            </table>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Functional and Reporting Currency</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          The functional currency is the currency of the primary economic environment in which the entity operates. The functional currency for the Company and its subsidiaries is the Canadian dollar except the functional currency of the operations of Bullion Monarch which is the US dollar. The functional currency determinations were conducted through an analysis of the consideration factors identified in IAS
          21, The Effects of Changes in Foreign Exchange Rates.
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <i>Translation of transactions and balances</i>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Monetary assets and liabilities denominated in foreign currencies are re-measured at the rate of exchange at each financial position date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">On translation of the entities whose functional currency is other than the Canadian dollar, revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Assets and liabilities are translated at the rate of exchange at the reporting date. Exchange gains and losses, including results of re-translation, are recorded in the foreign currency translation reserve.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Financial Instruments</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">All financial instruments are classified into one of the following four categories:</p>
        <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr>
              <td width="5%">&#160;</td>
              <td valign="top" width="5%">(a)</td>
              <td>Financial assets and financial liabilities at fair value through profit or loss (&#8220;FVTPL&#8221;)</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>&#160;</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>Financial assets and financial liabilities classified as FVTPL are acquired or incurred principally for the purpose of selling or repurchasing them in the near term. They are recognized at fair value based on market prices, with any resulting gains and losses reflected in profit or loss for the period in which they arise.</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>&#160;</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td valign="top" width="5%">(b)</td>
              <td>Held-to-maturity financial assets</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>&#160;</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>Held-to-maturity financial assets are non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity. They are measured at amortized cost using the effective interest rate method less any impairment loss. A gain or loss is recognized in profit or loss when the financial asset is derecognized or impaired, and through the amortization process.</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>&#160;</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td valign="top" width="5%">(c)</td>
              <td>Available for sale financial assets</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>&#160;</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>Available for sale (&#8220;AFS&#8221;) financial assets are non-derivative financial assets that are designated as available for sale, or that are not classified as loans and receivables, held-to-maturity investments, or FVTPL. They are measured at fair value. Fair value is determined based on market prices. Equity instruments that do not have a quoted market price in an active market are measured at cost. Gains and losses are recognized directly in other comprehensive income (loss) until the financial asset is derecognized, at which time the cumulative gain or loss previously recognized in accumulated other comprehensive income (loss) is recognized in profit or loss for the period.</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>&#160;</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td valign="top" width="5%">(d)</td>
              <td>Loans and receivables and other financial liabilities</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>&#160;</td>
            </tr>
            <tr>
              <td width="5%">&#160;</td>
              <td width="5%">&#160;</td>
              <td>Loans and receivables and other financial liabilities are measured at amortized cost, using the effective interest rate method less any impairment loss.</td>
            </tr>
        </table>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s financial instruments consist of cash and cash equivalents, investments, receivables, restricted cash, reclamation bonds, notes receivable, strategic investments, accounts payable and accrued liabilities, and advances from joint venture partners. Unless otherwise noted the fair value of these financial instruments approximates their carrying values.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Cash and cash equivalents are classified as loans and receivables. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Warrants held through investments are classified as derivative financial assets at FVTPL and are accounted for at fair value. For warrants that are not traded on an exchange, no market value is readily available. When there are sufficient and reliable observable market inputs, a valuation technique is used; if no such market inputs are available, the warrants are valued at intrinsic value, which is equal to the higher of the market value of the underlying security less the exercise price of the warrant, or zero.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Investments (Marketable securities) classified as FVTPL are measured at fair market value. Changes in fair value of FVTPL assets are reflected in profit or loss in the period in which they occur. Changes in fair value of AFS assets are reflected in accumulated other comprehensive income on the statement of financial position until sold or if there is an other than temporary impairment in value.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Reclamation bonds are classified as financial assets held-to-maturity.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company classifies its restricted cash and certain receivables as loans and receivables and its accounts payable and accrued liabilities and advances from joint venture partners as other financial liabilities.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Certain receivables related to the sale of Akarca (Note 4) are considered to be derivative financial assets as they are subject to variations in gold price per ounce on record date and final price received and are accordingly classified as FVTPL. The derivative receivable is recorded at fair value each period until final settlement occurs, with changes in fair value reflected in profit or loss for the period in which they arise.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Impairment of Financial Assets</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows of the financial assets have been impacted.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">For all financial assets, objective evidence of impairment could include:</p>
        <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td width="5%">&#160;</td>
              <td align="left">&#8226;</td>
              <td align="left" width="90%">Significant financial difficulty of the issuer or counterparty;</td>
            </tr>
            <tr valign="top">
              <td width="5%">&#160;</td>
              <td align="left">&#8226;</td>
              <td align="left" width="90%">Default or delinquency in interest or principal payments; or,</td>
            </tr>
            <tr valign="top">
              <td width="5%">&#160;</td>
              <td align="left">&#8226;</td>
              <td align="left" width="90%">It becoming probable that the borrower will enter bankruptcy or financial re-organization.</td>
            </tr>
        </table>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">For certain categories of financial assets that are assessed not to be impaired individually, they are subsequently assessed for impairment on a collective basis. The carrying amount of financial assets is reduced by the impairment loss directly for all financial assets with the exception of receivables, where the carrying amount is reduced through the use of an allowance account. When a receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">With the exception of FVTPL marketable securities, if in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. In respect of AFS marketable securities, impairment losses previously recognized through profit or loss are not reversed through profit or loss. Any increase in fair value subsequent to an impairment loss is recognized directly in equity.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Convertible Notes Receivable</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The notes receivable are hybrid financial assets that consist of a note receivable component and a separate equity conversion component. The conversion feature is measured at fair value on initial recognition by discounting the stream of future interest and principal payments at the rate of interest prevailing at the date of the issue for instruments of similar term and risk. Interest income based on the rate of the note will be receivable on maturity are recognized through profit and loss as interest income. The equity conversion option is an embedded derivative that has been separated from the notes receivable and is valued based on residual value.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Investments in Associated Companies</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company accounts for its long-term investments in affiliated companies over which it has significant influence using the equity basis of accounting, whereby the investment is initially recorded at cost, adjusted to recognize the Company&#8217;s share of earnings or losses and reduced by dividends received.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company assesses its equity investments for impairment if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the equity investment and that the event or events has an impact on the estimated future cash flow of the investment that can be reliably estimated. Objective evidence of impairment of equity investments includes:</p>
        <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td width="5%">&#160;</td>
              <td align="left">&#8226;</td>
              <td align="left" width="90%">Significant financial difficulty of the associated companies;</td>
            </tr>
            <tr valign="top">
              <td width="5%">&#160;</td>
              <td align="left">&#8226;</td>
              <td align="left" width="90%">Becoming probable that the associated companies will enter bankruptcy or other financial reorganization; or,</td>
            </tr>
            <tr valign="top">
              <td width="5%">&#160;</td>
              <td align="left">&#8226;</td>
              <td align="left" width="90%">National or local economic conditions that correlate with defaults of the associated companies.</td>
            </tr>
        </table>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Exploration and evaluation assets and exploration expenditures</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Acquisition costs for exploration and evaluation assets, net of recoveries, are capitalized on a property-by-property basis. Acquisition costs include cash consideration and the value of common shares, based on recent issue prices, issued for exploration and evaluation assets pursuant to the terms of the agreement. Exploration expenditures, net of recoveries, are charged to operations as incurred. After a property is determined by management to be commercially feasible, an impairment test is conducted and subsequent development expenditures on the property will be capitalized.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">When there is little prospect of further work on a property being carried out by the Company or its partners, when a property is abandoned, or when the capitalized costs are no longer considered recoverable, the related property costs are written down to management&#8217;s estimate of their net recoverable amount. The costs related to a property from which there is production, together with the costs of production equipment, will be depleted and amortized using the unit-of-production method.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">An exploration and evaluation asset acquired under an option agreement, where payments are made at the sole discretion of the Company, is capitalized at the time of payment. Option payments received are treated as a reduction of the carrying value of the related acquisition cost for the mineral property until the payments are in excess of acquisition costs, at which time they are then credited to profit or loss. Option payments are at the discretion of the optionee and, accordingly, are accounted for when receipt is reasonably assured.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Revenue recognition</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          The Company recognizes revenue in accordance with
          <i>IAS 18 Revenue</i>
          and based upon amounts contractually due pursuant to the underlying royalty agreements. Specifically, royalty revenue is recognized in accordance with the terms of the underlying royalty agreements subject to (i) when persuasive evidence of an arrangement exists; (ii) the risks and rewards of ownership have been transferred; (iii) the royalty or stream being fixed or determinable; and (iv) the collectability of the royalty being reasonably assured. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of revenue and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Royalty revenue may be subject to adjustment upon final settlement of estimated metal prices, weights, and assays. Adjustments to revenue from metal prices are recorded monthly and other adjustments are recorded on final settlement and are offset against revenue when incurred.
        </p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Royalty interests</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          Royalty interests in mineral properties include acquired royalty interests in production stage and exploration stage properties. In accordance with
          <i>IAS 38 Intangible Assets</i>
          , the cost of acquired royalty interests in mineral properties is capitalized as intangible assets.
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Acquisition costs of production stage royalty interests are depleted using the units of production method over the life of the related mineral property, which is calculated using estimated reserves. Acquisition costs of royalty interests on exploration stage mineral properties, where there are no estimated reserves, are not amortized. At such time as the associated exploration stage mineral interests are converted to estimated reserves, the cost basis is amortized over the remaining life of the mineral property, using the estimated reserves. The carrying values of exploration stage mineral interests are evaluated for impairment at such time as information becomes available indicating that production will not occur in the future.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Goodwill</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Goodwill represents the excess of the price paid for the acquisition of a consolidated entity over the fair value of the net identifiable tangible and intangible assets and liabilities acquired in a business combination. Goodwill is allocated to the cash generating unit to which it relates.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Property and equipment</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          Property and equipment is recorded at cost. Buildings are depreciated using a
          5
          year straightline method. Equipment is depreciated over its estimated useful life using the declining balance method at a rate of
          20% per annum. Depreciation on equipment used directly on exploration projects is included in exploration expenditures for that mineral property.
        </p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Decommissioning liabilities</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Decommissioning liabilities are recognized for the expected obligations related to the retirement of long-lived tangible assets that arise from the acquisition, construction, development or normal operation of such assets. A decommissioning liability is recognized in the period in which it is incurred and when a reasonable estimate of the fair value of the liability can be made with a corresponding decommissioning cost recognized by increasing the carrying amount of the related long-lived asset. The decommissioning cost is subsequently allocated in a rational and systematic method over the underlying asset&#8217;s useful life.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The initial fair value of the liability is accreted, by charges to profit or loss, to its estimated future value.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Environmental disturbance restoration</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the operating life of an asset, events such as infractions of environmental laws or regulations may occur. These events are not related to the normal operation of the asset and are referred to as environmental disturbance restoration provisions. The costs associated with these provisions are accrued and charged to profit or loss in the period in which the event giving rise to the liability occurs. Any subsequent adjustments to these provisions due to changes in estimates are also charged to profit or loss in the period of adjustment. These costs are not capitalized as part of the long-lived assets&#8217; carrying value.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Impairment of assets</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Events or changes in circumstances can give rise to significant impairment charges or reversals of impairment in a particular year. The Company assesses its cash generating units annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, an estimate of the recoverable amount is made, which is the higher of the fair value less costs to sell and value in use. The determination of the recoverable amount for value in use requires the use of estimates and assumptions such as long-term commodity prices, discount rates, future capital requirements, exploration potential and future operating performance. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm&#8217;s length transaction between knowledgeable and willing parties.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Cash and cash equivalents</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Cash and cash equivalents include cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Share-based payments</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Share-based payments include option and stock grants granted to directors, employees and non-employees. The Company accounts for share-based compensation using a fair value based method with respect to all share-based payments measured and recognized, to directors, employees and non-employees. For directors and employees, the fair value of the options and stock grants is measured at the date of grant. For non-employees, the fair value of the options and stock are measured at the fair value of the goods or services received or the fair value of the equity instruments issued, if it is determined the fair value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received. For directors, employees and non-employees, the fair value of the options and stock grants is accrued and charged to operations, with the offsetting credit to share based payment reserve for options, and commitment to issue shares for stock grants over the vesting period. If and when the stock options are exercised, the applicable amounts are transferred from share-based payment reserve to share capital. When the stock grants are issued, the applicable fair value is transferred from commitment to issue shares to share capital. Option based compensation awards are calculated using the Black-Scholes option pricing model while stock grants are valued at the fair value on the date of grant.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has granted certain employees and non-employess restricted share units (&#8220;RSUs&#8221;) to be settled in shares of the Corporation. The fair value of the estimated number of RSUs that will eventually vest, determined at the date of grant, is recognized as share-based compensation expense over the vesting period, with a corresponding amount recorded as equity. The fair value of the RSUs is estimated using the market value of the underlying shares as well as assumptions related to the market and non-market conditions at the grant date.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Income taxes</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Income tax expense consists of current and deferred tax. Income tax expense is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is calculated providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Deferred tax is not recognized on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable income nor loss. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">A deferred tax asset is recognized to the extent that it is probable that future taxable income will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Income (loss) per share</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Basic income or loss per share is calculated by dividing the net income or loss for the year by the weighted average number of shares outstanding during the year. Diluted income or loss per share is calculated whereby the weighted average number of shares outstanding used in the calculation of diluted income or loss per share assumes that the deemed proceeds received from the exercise of stock options, share purchase warrants and their equivalents would be used to repurchase common shares of the Company at the average market price during the year, if they are determined to have a dilutive effect.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Existing stock options and share purchase warrants have not been included in the current year computation of diluted loss per share as to do so would be anti-dilutive. For the years presented the basic and diluted losses per share are the same.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Valuation of equity units issued in private placements</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The fair value of the common shares issued in the private placements was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted bid price on the day prior to the issuance date. The balance, if any, was allocated to the attached warrants. Any fair value attributed to the warrants is recorded in reserves.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Segment reporting</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segment, has been identified as the Chief Executive Officer.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Accounting pronouncements not yet effective</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The following standards and pronouncements have been issued by the IASB and have not yet been adopted by the Company.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">IFRS 9 requires financial assets to be classified into three measurement categories on initial recognition: those measured at fair value through profit and loss, those measured at fair value through other comprehensive income and those measured at amortized cost. Measurement and classification of financial assets is dependent on the entity&#8217;s business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. For financial liabilities, the standard retains most of the IAS 39 requirements.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">In May 2014, the IASB issued IFRS 15 Revenue from Contracts with Customers ("IFRS 15"), which supersedes IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and SIC 31 Revenue - Barter Transactions involving Advertising Services. IFRS 15 establishes a single five-step model framework for determining the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. The standard is effective for annual periods beginning on or after January 1, 2018, with early adoption permitted.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">IFRS 16 Leases was issued in January 2016 (effective January 1, 2019) and provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company expects that these new IFRS standards will have an insignificant effect on its consolidated financial statements other than increased note disclosure.</p>
              <p align="justify" style="font-family: times,serif; font-size: 10pt;">
          <b>Critical Accounting Judgments and Significant Estimates and Uncertainties</b>
        </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The preparation of the consolidated financial statements requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported revenue and expenses during the periods presented therein. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, royalty revenues and expenses. Management bases its judgments and estimates on historical experience and on other various factors it believes to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions and conditions.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has identified the following critical accounting policies in which significant judgments, estimates and assumptions are made and where actual results may differ from these estimates under different assumptions and conditions and may materially affect financial results or the financial position reported in future periods. Further details of the nature of these assumptions and conditions may be found in the relevant notes to the consolidated financial statements.</p>
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                <i>a)</i>
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              <td>
                <i>Royalty interest and related depletion</i>
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            </tr>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">In accordance with the Company&#8217;s accounting policy, royalty interests are evaluated on a periodic basis to determine whether there are any indications of impairment. If any such indication exists, a formal estimate of recoverable amount is performed and an impairment loss recognized to the extent that carrying amount exceeds recoverable amount. The recoverable amount of a royalty asset is measured at the higher of fair value less costs to sell and value in use. The determination of fair value and value in use requires management to make estimates and assumptions about expected production and sales volumes, the proportion of areas subject to royalty rights, commodity prices (considering current and historical prices, price trends and related factors), and reserves. These estimates and assumptions are subject to risk and uncertainty; hence there is a possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances, some or all of the carrying value of the assets may be further impaired or the impairment charge reduced with the impact recorded in profit or loss.</p>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount. The assessment of the recoverable amount used in the goodwill impairment analysis is subject to similar judgments and estimates as described above for property and equipment and royalty interests.</p>
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                <i>c)</i>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Recorded costs of exploration and evaluation assets are not intended to reflect present or future values of exploration and evaluation assets. The recorded costs are subject to measurement uncertainty and it is reasonably possible, based on existing knowledge, that a change in future conditions could require a material change in the recognized amount.</p>
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                <i>d)</i>
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                <i>Taxation</i>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s accounting policy for taxation requires management&#8217;s judgment as to the types of arrangements considered to be a tax on income in contrast to an operating cost. Judgment is also required in assessing whether deferred tax assets and certain deferred tax liabilities are recognized on the statement of financial position.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Deferred tax assets, including those arising from unused tax losses, capital losses and temporary differences, are recognized only where it is considered probable that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Deferred tax liabilities arising from temporary differences caused principally by the expected royalty revenues generated by the royalty property are recognized unless expected offsetting tax losses are sufficient to offset the taxable income and therefore, taxable income is not expected to occur in the foreseeable future. Assumptions about the generation of future taxable profits depend on management&#8217;s estimates of future cash flows. These depend on estimates of future production and sales volumes, commodity prices, and reserves. Judgments are also required about the application of income tax legislation in foreign jurisdictions. These judgments and assumptions are subject to risk and uncertainty, hence there is a possibility that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets and deferred tax liabilities recognized on the statement of financial position and the amount of other tax losses and temporary differences not yet recognized. In such circumstances, some or the entire carrying amount of recognized deferred tax assets and liabilities may require adjustment, resulting in a corresponding credit or charge to profit or loss.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements include, but are not limited to, the following:</p>
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                <i>a)</i>
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              <td>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The functional currency of each of the Company&#8217;s subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions, which determined the primary economic environment.</p>
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              <td valign="top" width="5%">b)</td>
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                <i>Classification of investments as subsidiaries, joint ventures, associated company and portfolio investments</i>
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          Classification of investments requires judgement as to whether the Company controls, has joint control of or significant influence over the strategic financial and operating decisions relating to the activity of the investee. In assessing the level of control or influence that the Company has over an investment, management considers ownership percentages, board representation as well as other relevant provisions in shareholder agreements. If an investor holds
          20% or more of the voting power of the investee, it is presumed that the investor has significant influence, unless it can be clearly demonstrated that this is not the case. Conversely, if the investor holds less than
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">For the years ended December 31, 2017 and 2016, the Company had the following investments:</p>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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                2,396,251
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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                1,139,447
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                2,396,251
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (1,256,804
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                1,139,447
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Marketable securities</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                2,287,141
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (87,942
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                2,199,199
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              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                4,683,392
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                (1,344,746
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                3,338,646
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                <b>Accumulated</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                1,641,751
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                (1,378,995
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                262,756
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                1,641,751
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (1,378,995
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                262,756
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Marketable securities</p>
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                910,473
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (697,675
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                212,798
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                2,552,224
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (2,076,670
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                475,554
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2017, the Company recorded a loss of $Nil
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                2,447,595
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                4,145,898
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                258,223
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              <td align="left" valign="bottom" width="1%">&#160;</td>
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                306,513
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                151,163
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                142,857
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                270,547
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              <td align="left" valign="bottom" width="1%">&#160;</td>
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                79,090
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                248,883
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                168,375
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            <tr valign="top">
              <td align="left" valign="bottom">
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              <td align="right" valign="bottom" width="12%">
                3,376,411
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                4,842,733
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            <tr valign="top">
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Less: Long term portion</p>
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (1,412,727
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
              </td>
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              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                3,376,411
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                3,430,006
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The carrying amounts of the Company&#8217;s current and non &#8211; current receivables are denominated in the following currencies:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                  <b>Currency</b>
                </p>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>December 31, 2017</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>December 31, 2016</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                280,925
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                48,448
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            <tr valign="top">
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                3,040,347
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                4,744,825
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            <tr valign="top">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                24,535
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                41,785
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                29,575
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                6,824
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              <td align="left" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                1,029
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                851
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            <tr valign="top">
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                3,376,411
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              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                4,842,733
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  <b>Total</b>
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <tr valign="top">
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  91,713
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  146,041
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  6,635
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  197,200
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  572,443
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  414,526
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  1,428,558
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  7,981
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  10,224
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  1,170
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  16,105
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  6,065
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  41,545
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (2,152
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (3,059
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (165,888
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (171,099
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2015</p>
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  99,694
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  154,113
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  4,746
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  47,417
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  578,508
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  414,526
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  1,299,004
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
                </td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  10,549
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  6,450
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  16,999
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (79,630
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (2,365
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (47,417
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (129,412
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              </tr>
              <tr valign="top">
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2016</p>
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  110,243
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  80,933
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  2,381
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  578,508
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  414,526
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  1,186,591
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  20,447
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  4,337
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  24,784
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (20,756
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (20,756
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2017</p>
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  110,243
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  60,177
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  2,381
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  &#160;
                  -
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  598,955
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  418,863
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  1,190,619
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
                </td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                    <b>Accumulated depreciation</b>
                  </p>
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2014</p>
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  91,713
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  106,850
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  3,958
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  157,625
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  317,183
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  &#160;
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  677,329
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  7,981
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  8,161
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  1,832
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  15,595
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  117,213
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  150,782
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (1,680
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (1,656
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (140,231
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (143,567
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2015</p>
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  99,694
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                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  684,544
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              <tr valign="top">
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                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  7,438
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  12,601
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                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
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                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  671
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                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  115,490
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                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
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                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="8%">
                  136,200
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (70,444
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (1,753
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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              <tr valign="top">
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                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2016</p>
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  107,132
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  55,488
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  2,381
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  549,886
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  714,887
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  3,111
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  7,104
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  29,129
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  -
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                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
                  39,344
                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
                </td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (13,890
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  -
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
                <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  (13,890
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                <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2017</p>
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  110,243
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  48,702
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  2,381
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  &#160;
                  -
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  579,015
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  &#160;
                  -
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  740,341
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
                </td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
                <td valign="bottom" width="1%">&#160;</td>
                <td valign="bottom" width="8%">&#160;</td>
                <td valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" bgcolor="#e6efff" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                    <b>Net book value</b>
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                </td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
                <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              </tr>
              <tr valign="top">
                <td align="left" valign="bottom">
                  <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                    <b>As at December 31, 2016</b>
                  </p>
                </td>
                <td align="left" valign="bottom" width="1%">$</td>
                <td align="right" valign="bottom" width="8%">
                  3,111
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">$</td>
                <td align="right" valign="bottom" width="8%">
                  25,445
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">$</td>
                <td align="right" valign="bottom" width="8%">
                  &#160;
                  -
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">$</td>
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                  &#160;
                  -
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                  28,622
                </td>
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                <td align="right" valign="bottom" width="8%">
                  414,526
                </td>
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                  471,704
                </td>
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                    <b>As at December 31, 2017</b>
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  &#160;
                  -
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  11,475
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  &#160;
                  -
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  &#160;
                  -
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  19,940
                </td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  418,863
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                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
                <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
                <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
                  450,278
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2017, the Company sold fully amortized equipment to an associated entity and recorded a gain on sale of $29,766
      and a corresponding receivable due from the investment in the associated entity. The sale value of the equipment was determined to be market value. Included in gain (loss) on acquisition and sale of exploration and evaluation assets was field equipment in Australia with a book value of $6,866.
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      During the year ended December 31, 2016, the Company sold certain foreign operations for a gain of $6,834,999. Included in this gain was property and equipment with a net book value of $23,555.
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      During the year ended December 31, 2015, the Company acquired and sold certain exploration and evaluation assets for a net gain of $5,393,305. Included in this gain was the acquisition of property and equipment with a net book value of $7,013. Also, during the year ended December 31, 2015 the Company sold property and equipment with a net book value of $21,041
      for total proceeds of $36,933
      for a net gain of $15,892, and included in exploration and evaluation expenditures is a loss on disposal of property and equipment with a net book value of $6,490.
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES RECEIVABLE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>7. NOTES RECEIVABLE</b>
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      On February 5, 2015, the Company entered into a convertible loan agreement with IG Copper, LLC (&#8220;IGC&#8221;), an associated company of EMX (Note 8) allowing IGC to borrow up to a maximum of US$500,000. The loan carried an interest rate of
      8% per annum and the full amount of the principal and interest was due January 3, 2017. The full US$500,000
      had been drawn and during the year ended December 31, 2016, the Company entered into an amended and restated loan agreement with IGC such that the IGC Loan shall include any additional sums that were advanced by the Company to, or paid by the Company on behalf of IGC from time to time prior to January 3, 2017. As such, US$198,953
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      At any time prior to the maturity date, the Company had the right to convert all or any part of the outstanding amount of the loan into membership units at US$6.00
      per unit. If IGC completed a financing at less than US$6.00
      per unit, the conversion price will be adjusted to the price used in the financing. Each membership unit represents a single membership interest in IGC. Additionally, if subsequent to the date of the Amended Agreement, IGC completes a financing and, as part of that financing, issues warrants to purchase Units or other securities of IGC, then the Company shall be entitled, upon conversion of the IGC Loan and accrued and unpaid interest, to also receive warrants to purchase Units or other securities of IGC on the same terms as the warrants issued in such financing.
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During fiscal 2016, the Company advanced an additional US$400,000. On August 15, 2016, the Company converted the full amount of the outstanding loan, US$1,184,511
      inclusive of accrued interest of US$85,558, at US$5.00
      per unit, which was the unit price of the most recently completed financing, into
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      During the year ended December 31, 2017, the Company issued convertible notes to IGC allowing IGC to borrow up to US$750,000. The notes carried an interest rate of
      8% per annum and the full amount of the principal and interest is due
      12
      months from the date of the note. The full US$750,000
      was drawn. At any time prior to the maturity date, the Company had the right to convert all or any part of the principal sums and accrued interest into membership Units of IGC at US$5.00
      per Unit. Each membership Unit consists of one Membership Interest and one warrant to purchase one Membership Interest for US$6.00
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      The notes receivable consisted of two components: the note receivable component and the equity conversion option. At initial recognition the fair value of the equity conversion option was estimated to be $79,220. The fair value of the note receivable component was estimated at $926,057. The note receivable component is accreted over its expected term using the effective interest method at an effective rate of approximately
      18%. For the year ended December 31, 2017, the Company recorded $51,877
      of interest income, as well as a foreign exchange loss of $38,401. On November 30, 2017, the Company converted the full amount of the outstanding loans, $1,017,540
      (US$789,967) inclusive of accrued interest of $51,877
      (US$39,967), at US$5.00
      per unit, which was the unit price of the most recently completed financing, into
      157,993
      membership units and
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      warrants of IGC.
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On October 16, 2017, the Company issued notes receivable to Revelo Resources Corp., a related party by way of a common director for the principal amount of $400,000. The note was due on December 31, 2017, together with accrued interest at a rate of
      1% per month and a bonus of $20,000. As at December 31, 2017, the balance owed to the Company pursuant to the note was $429,973
      including accrued interest and bonus fee. The Company is negotiating the terms of repayment.
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6750021520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS IN ASSOCIATED COMPANIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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      <b>8. INVESTMENTS IN ASSOCIATED COMPANIES</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Company has a
      41% (2016 &#8211;
      39%; 2015 &#8211;
      42%) equity investment in IGC. At December 31, 2017, including the conversion of convertible notes, cash purchases of shares, and interest on any balances due from IGC, the Company has invested an aggregate of US$11,354,977
      towards its investment (2016 - US$8,967,010
      ; 2015 - US$7,782,500). At December 31, 2017, the Company&#8217;s investment including dilution gains, less its share of accumulated equity losses was $7,578,989
      (2016 - $4,992,823). The Company&#8217;s share of the net loss for the year ended December 31, 2017 was $994,548
      (2016 - $1,295,568
      ; 2015 - $1,062,146).
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has a minority position on the Board of IGC, and does not control operational decisions. The Company&#8217;s judgment is that it has significant influence, but not control and accordingly equity accounting is appropriate.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">As at December 31, 2017, associated companies&#8217; aggregate assets, aggregate liabilities and net loss for the year ended are as follows:</p>
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                  <b>December 31, 2017</b>
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                6,127,735
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                (1,108,694
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (2,713,490
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            </tr>
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              <td align="right" valign="bottom" width="12%">
                41%
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              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">The Company's share of loss for the year</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (994,548
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">As at December 31, 2016, associated companies&#8217; aggregate assets, aggregate liabilities and net loss for the year are as follows:</p>
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                6,884,378
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                (1,471,260
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              <td align="left" valign="bottom" width="2%">)</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
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              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (3,216,120
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">The Company's ownership %</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                39%
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              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">The Company's share of loss for the year</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (1,295,568
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2017, the Company recognized a dilution gain of $503,543
      (2016 - $982,634) related to the Company&#8217;s change in ownership percentage as a result of IGC&#8217;s share issuance for cash proceeds and loan conversions.
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EXPLORATION AND EVALUATION ASSETS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>9. EXPLORATION AND EVALUATION ASSETS</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Acquisition Costs</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">At December 31, 2017 and 2016, the Company has capitalized the following acquisition costs on its exploration and evaluation assets:</p>
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="51%">
                <b>Properties</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>December 31, 2017</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>December 31, 2016</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">Asia Pacific</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Various</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                &#160;
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                81,124
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">Sweden</td>
              <td align="left" valign="bottom" width="51%">Various</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                16,671
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                16,671
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Viad royalties</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                421,084
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                421,084
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" valign="bottom" width="51%">Alankoy</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                153,960
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                153,960
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Sisorta</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">&#160;</td>
              <td align="left" valign="bottom" width="51%">Trab</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                78,587
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                78,587
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">United States</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Superior West, Arizona</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                867,096
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                1,000,479
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">of America</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="51%">Yerington, Nevada</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                304,568
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                393,095
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Total</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="51%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                1,841,966
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                2,145,000
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2017, the Company received a $133,383
      (US$100,000) annual option payment related to an exploration and option to purchase agreement for the Superior West project with Kennecott Exploration Company (&#8220;Kennecott&#8221;). The Company also received the annual option payment related to an option agreement with Mason Resources Corp (&#8220;Mason&#8221;) for $88,527
      (US$75,000) and applied against the Yerington project. Also during the year ended December 31, 2017, the Company sold the wholly owned Australian subsidiary that held the Koonenberry licences in Australia. As part of the sale, the Company transferred the ownership of the Koonenberry property which had a capitalized cost of $81,124.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended Dececmber 31, 2016, the Company received a $129,820
      (US$100,000) annual option payment related to an exploration and option to purchase agreement for the Superior West project with Kennecott Exploration Company (&#8220;Kennecott&#8221;) applied against the Superior West capitalized costs. Also during the year ended December 31, 2016, the Company sold its Sisorta project in Turkey and all capitalized costs were recovered.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2015 the Company wrote-off $56,085
      of capitalized exploration costs related to the termination of a
      1% net smelter returns royalty (&#8220;NSR&#8221;) agreement on one of its interests in Haiti.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>Sweden and Norway Licenses</u>
      </b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company holds certain exploration permits in Sweden and Norway. There are no specific spending commitments on the Swedish licenses and permits.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">On February 14, 2017, the Company completed an agreement to sell certain wholly owned subsidiaries in Sweden previously announced in November 2016, to Boreal Metals Corp. (&#8220;BMC&#8221;)(TSX-V: BMX), a British Columbia corporation. Pursuant to the agreement BMC acquired two wholly-owned subsidiaries of the Company that control the Gumsberg and Adak exploration assets in Sweden and the Tynset and Burfjord assets in Norway. In exchange for the transfer of its wholly-owned subsidiary Iekelvare AB, which owns the Gumsberg and Adak properties, and its entire interest in its wholly-owned subsidiary EMX Exploration Scandinavia AB, which owns the Tynset and Burfjord properties BMC must complete the following:</p>
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        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              BMC issued
              1,713,390
              common shares to EMX representing a
              19.9% equity ownership in BMC. BMC had thecontinuing obligation to issue additional shares of BMC to EMX to maintain its
              19.9% interest in Boreal, at no additional cost to EMX, until BMC raised CAD $5,000,000
              in equity (completed). EMX now has the right to participate pro-rata in future financings at its own cost to maintain its
              19.9% interest in Boreal.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              BMC also agreed to reimburse SEK
              550,000
              ($81,996, received) to the Company for license fees related to the Adak license.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              As part of the agreement, EMX will receive an uncapped
              3% NSR royalty on each of the properties. Within five years of the closing date, BMC has the right to buy down up to
              1% of the royalty on any given project by paying EMX US$2,500,000
              in cash and shares of BMC. Such buy down is project specific.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Additionally, EMX will receive annual advance royalty (&#8220;AAR&#8221;) payments of US$20,000
              for each of the properties commencing on the second anniversary of the closing, with each AAR payment increasing by US$5,000
              per year until reaching US$60,000
              per year, except that BMC may forgo AAR payments on two of the four Properties in years two and three.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              EMX will also receive a
              0.5% NSR royalty on any new mineral exploration projects generated by BMC in Sweden or Norway, excluding projects acquired from a third party containing a mineral resource or reserve or an existing mining operation. These royalties are not capped and not subject to a buy down.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">As part of the agreement, EMX also has the right to nominate one seat on the Board of Directors of BMC.</p>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Pursuant to the sale agreement, the Company received
      1,713,390
      shares of BMC on signing and valued the shares received at $0.05
      per share or $85,670, and paid a US$12,000
      ($15,862) finders fee. Subsequent to signing, pursuant to equity and private placements completed by BMC, BMC issued EMX a further
      7,492,492
      shares to EMX valued at $1,290,998. Pursuant to the sale agreement, EMX has recorded a total gain on sale of $1,393,224. As at December 31, 2017, EMX held
      9,205,882
      shares of BMC representing approximately a
      17.8% interest.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In December 2017, the Company executed an option agreement for the sale of the Sl&#228;ttberg licenses in Sweden to Sienna Resources Inc. (&#8220;Sienna&#8221;) (TSX-V: SIE). As part of the agreement, Sienna can earn a
      100% interest in the project during a one-year option period by completing the following:
    </p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              On signing the agreement, Sienna issued EMX
              3,000,000
              common shares of Sienna stock valued at $750,000
              ;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              As a condition to the exercise of the option, Sienna must undertake work commitments of at least $500,000
              on the project, including drilling of at least
              750
              meters.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Upon exercise of the option, issue to EMX an additional
              3,000,000
              common shares of Sienna, and EMX will receive a
              3% NSR royalty on the project.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              After exercise of the option, Sienna will use commercially reasonable efforts to raise $3,000,000
              for development of the project and other activities. Once Sienna has raised that amount, Sienna will issue an additional
              4,000,000
              common shares to EMX. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its interest in Sienna.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td>&#8226;</td>
          <td width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Within six years of the execution of the agreement, Sienna may purchase
              0.5% of the NSR royalty for $1,500,000,
              <br/>
              leaving EMX with a
              2.5% NSR royalty.
            </p>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>United States</u>
      </b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Aguila de Cobre, Arizona</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On July 30, 2015, the Company, through its wholly-owned subsidiary Bronco Creek Exploration Inc. (&#8220;BCE&#8221;), entered into an option agreement to sell the Aguila de Cobre property for a combination of cash payments and work commitments. The agreement grants Kennecott Exploration Company (&#8220;KEX&#8221;), part of the Rio Tinto Group, the option to acquire a
      100% interest in the property.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">During April 2016, KEX terminated its option to aquire the interest in the property.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Cathedral Well, Nevada</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In June 2014, the Company signed an exploration and option agreement through its wholly-owned subsidiary BCE, with Ely Gold and Minerals Inc. (&#8220;Ely Gold&#8221;) (TSX Venture: ELY) to earn a
      100% interest in the Cathedral Well project by paying EMX a total of US$100,000
      over the next three years after which the Company will retain a
      2.5% NSR royalty, inclusive of an underlying
      0.5% NSR royalty. Ely Gold completed their earn-in for the property in November of 2016 through a trade with EMX, whereby a subsidiary of Ely Gold executed a quit claim deed for certain mining claims adjacent to EMX&#8217;s Spring Canyon property in Nevada in lieu of its last US$25,000
      option payment. In December 2016, Ely Gold announced it had optioned the property to Colorado Resources Ltd. (TSX-V: CXO).
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Hardshell Skarn, Arizona</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Company holds a
      100% interest in the Hardshell Skarn property comprised of certain unpatented federal lode mining claims.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In October 2015, the Company signed an exploration and option agreement through its wholly-owned subsidiary FOBC LLC, with Arizona Mining Inc, to earn a
      100% interest in the project by paying the Company a total of US$85,000
      as follows: US$25,000
      (received) upon execution of the agreement and US$60,000
      (received) over the next three years. In 2017, Arizona Mining earned a
      100% interest in the project under the agreement by accelerating and completing the required US$85,000
      in cash payments. The Company now retains a
      2% NSR. After exercise of the option, annual advanced royalty payments of US$5,000
      commence on the first anniversary of the exercise of the option. After commencement of commercial production, the Company is due payments of US$5,000
      or the royalty coming due that year, whichever is greater.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Greenwood Peak, Arizona</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In November 2017, EMX executed an Option Agreement with a wholly owned subsidiary of Antofagasta plc (&#8220;Antofagasta&#8221;) (LSE: Anto) wherby Antofagasta can earn a
      100% interest in the Greenwood Peak project by: a) reimbursing EMX&#8217;s acquisition costs and making annual option payments, together totaling US$630,000
      ($30,000
      received), and b) completing US$4,500,000
      in work expenditures within the five year option period. Upon exercise of the option EMX will retain a
      2% NSR royalty on the project, which is not capped and not subject to buy-down. After exercise of the option, annual advance royalty and milestone payments will be due to EMX.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Copper Springs, Copper King, and Red Top Properties, Arizona</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In September 2013, the Company, through its wholly owned subsidiary BCE, entered into option agreements to sell the Copper Springs, Copper King, and Red Top projects for a combination of cash payments, work commitments, and common shares. The agreements grant Desert Star Resources Ltd. (&#8220;Desert Star&#8221;), a TSX-V listed company, the option to acquire a
      100% interest in each of the projects.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Desert Star delivered
      1,050,000
      common shares of Desert Star and is required to incur a minimum of US$5,000,000
      in exploration expenditures by the seventh anniversary of the signing date, and making additional milestone payments to the Company.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <u>Copper Springs, Arizona</u>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In January, 2015, Desert Star terminated its interest in the Copper Springs project and the Company regained
      100% control of the project.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On February 25, 2017, through BCE, the Company executed an Option Agreement for Copper Springs with Anglo American Exploration (USA), Inc. (&#8220;Anglo American&#8221;). Anglo American can earn a
      100% interest in the project by: a) reimbursing 2016 holding and permitting costs and making annual option payments, together totaling US$447,000
      ($82,000
      received), and b) completing US$5,000,000
      in exploration expenditures before the fifth anniversary of the agreement. Upon exercise of the option, Anglo American will pay EMX an additional US$110,000
      and EMX will retain a
      2% NSR royalty on the project. The royalty is not capped or purchasable, except over two parcels of Arizona State Land where Anglo American can buy a
      0.5% NSR royalty from EMX for US$2,000,000. After exercise of the option, annual advanced minimum royalty (&#8220;AMR&#8221;) payments and milestone payments will be due to EMX.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <u>Copper King, Arizona</u>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On September 1, 2014, and July 21, 2015 the Copper King agreement was amended, extending the 2
      <sup>nd</sup>
      anniversary payments and work commitments into 2016. On March 1, 2016, Desert Star terminated its option on the Copper King project. In October 2016, the Company, through BCE, entered into an option agreement to sell the Copper King property for a combination of cash payments and work commitments. The agreement grants Kennecott the option to acquire a
      100% interest in the property.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Pursuant to the Agreement, Kennecott can earn a
      100% interest in the Project by (a) reimbursing the 2016 holding costs and making option payments, together totaling US$504,314
      (US$79,314
      received), and (b) completing US$4,000,000
      in exploration expenditures before the fifth anniversary of the Agreement Upon exercise of the option EMX will retain a
      2% NSR royalty on the project which is not capped or purchasable.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">After exercise of the option, AMR payments and milestone payments will be due to EMX.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <u>Red Top, Arizona</u>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On September 1, 2014, and July 31, 2015 the Red Top agreement was amended extending the 2
      <sup>nd</sup>
      anniversary payments and work commitments into 2016. In January 2017 Desert Star terminated its option on the Red Top project and returned
      100% control of the project to BCE.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Buckhorn Creek and Frazier Creek Properties, Arizona and Nevada</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In October 2013, the Company, through its wholly owned subsidiary BCE, entered into option agreements to sell the Frazier Canyon and Buckhorn Creek projects for a combination of cash payments, work commitments, and common shares. The agreements granted Savant Explorations Ltd. (&#8220;Savant&#8221;), a TSX-V listed company, the option to acquire a
      100% interest in each of the projects.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On April 27, 2015, Savant terminated its option to acquire the Frazier Creek property and the Company relinquished all mineral rights on the Frazier Creek property. On September 24, 2015, Savant terminated its interest in the Buckhorn Creek property with the Company retaining
      100% ownership of the property.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Superior West, Arizona</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Company holds a
      100% interest in the mineral rights comprised of certain federal unpatented mining claims, located on Tonto National Forest lands and unpatented federal mining claims under option. The Company also may earn a
      100% interest in additional adjacent claims under option from a third party for cash payments totaling US$1,000,000
      on or before January 2017 and subject to a
      2% NSR Royalty,
      1% of which may be purchased for US$2,000,000
      in
      0.5% increments. The Company exercised the option in December 2016, and retains a
      100% interest in the project.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On May 4, 2015, the Company entered into an exploration and option to purchase agreement, through its wholly owned subsidiary BCE, for the Superior West project with Kennecott. Pursuant to the agreement, Kennecott can earn a
      100% interest in the project by making cash payment upon execution of the agreement of US$149,187
      (received), and thereafter completing US$5,500,000
      in exploration expenditures and paying annual option payments totaling US$1,000,000
      (US $100,000
      received in March 2016, and US$100,000
      received in January 2017 ) before the fifth anniversary of the agreement. For the execution payment, US$50,000
      ($52,500) was applied against the Superior West capitalized costs, and the balance of US$99,187
      was a direct reimbursement to the Company for holding costs to maintain the property in good standing. Upon exercise of the option EMX will retain a
      2% NSR royalty on the properties. Kennecott has the right to buy down
      1% of the NSR royalty from underlying claim holders by payment of US$4,000,000
      to EMX.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Kennecott has maintained or exceeded any minimum requirements for expenditures on the project and the agreement remains in good standing.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Mineral Hill, Wyoming</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In October 2016, the Company, through its wholly-owned subsidiary BCE, entered into an option agreement with Coeur Explorations, Inc., a subsidiary of Coeur Mining, Inc. (NYSE: CDE) (&#8220;Coeur&#8221;) to acquire a
      100% interest in the property. The Company&#8217;s Mineral Hill project is held under a pooling agreement with a private group, Mineral Hill L.P. (&#8220;MHL&#8221;), with all proceeds split 50:50, except for the sale of surface rights associated with several patented mining claims.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Pursuant to the Agreement, Coeur may acquire a
      100% interest in the Property by a) making yearly option payments, beginning upon execution of the Agreement, totaling US$435,000
      (US$10,000
      received upon execution, US$15,000
      received in October 2017), b) making exploration expenditures totaling US$1,550,000
      on or before the fifth anniversary of the agreement, and c) paying US$250,000
      upon exercise of the option.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Upon exercise of the option, EMX and MHL will retain a
      4% NSR royalty, of which Coeur may purchase up to
      1.5% of the NSR royalty if, within sixty days after the completion of a PEA, Coeur purchases the first
      0.5% for US$1,000,000. Coeur may purchase an additional
      0.5% or
      1% of the NSR royalty at any time thereafter for US$2,000,000
      per
      0.5% interest (maximum total buy down of
      1.5%), with EMX and MHL retaining a
      2.5% interest.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      After the option exercise, EMX and MHL will receive annual advance minimum royalties of US$150,000
      and, upon completion of a feasibility study, a milestone payment of US$1,000,000.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Ophir, Utah</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In October 2016, the Company completed the sale of five patented mining claims comprising its Ophir property in Utah, through its wholly owned subsidiary Bullion Monarch Mining Inc., to Kennecott. The terms of the sale include a cash payment of US$75,000
      (received) to EMX at closing, with the Company retaining a
      2% NSR royalty on the property.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Yerington West, Nevada</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Yerington West property is comprised of certain unpatented federal mining claims located on lands administered by the BLM. Yerington West is under an Option Agreement, dated September 24, 2009 originally with Entr&#233;e Gold Inc. ("Entr&#233;e"), and now is with Mason Resources Corp. ("Mason") (TSX: MNR) as a result of a 2017 "spin out" whereby Entr&#233;e transferred the Ann Mason project, which includes EMX's Yerington West property, into Mason, a newly incorporated company.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Under the agreement, Mason can earn up to an
      80% interest in the project by a) incurring expenditures of $1,000,000, making cash payments of $140,000, and issuing
      85,000
      shares within three years (completed by Entr&#233;e), b) making aggregate advance royalty payments totaling $375,000, being US$50,000
      per year between the fifth and seventh anniversaries (received), and $75,000
      per year between the eighth and tenth anniversaries ($75,000
      received during the year ended Dececmber
      31, 2017); and (c) delivering a feasibility study before the tenth anniversary of the agreement. Under the agreement, once earn-in has been completed, EMX can convert its interest to a
      2.5% NSR. Mason has the option to buy down
      1.5% of the NSR for US$4,500,000
      million.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Various</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company holds interests acquired by staking in several jurisdictions including Utah, Nevada, Arizona, Colorado and Wyoming.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>Turkey</u>
      </b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has acquired numerous exploration licenses in Turkey for which there are no specific spending commitments.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Akarca Property</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On June 20, 2013, the Company entered into an option agreement to sell its
      100% interest in AES Madencilik A.S. ("AES Turkey"), a Turkish corporation that controls the Akarca property, for a combination of cash payments, gold bullion, work commitments, and a royalty interest to &#199;olakoglu, a privately owned Turkish company.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Colakoglu paid $350,000
      and completed drilling requirements on the project and was required to pay additional amounts to earn its interest. In October, 2015, &#199;olakoglu advised EMX that it decided to forego exercising the option and the Company regained
      100% control of the Akarca project.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Effective July 29, 2016, the Company entered into a share purchase agreement for the sale of AES Madencilik A.S. (&#8220;AES&#8221;), the wholly-owned EMX subsidiary that controls the Akarca gold-silver project in western Turkey, to &#199;iftay in&#65533;?aat Taahh&#252;t veTicaret A.&#65533;?. ("&#199;iftay"), a privately owned Turkish company.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The terms of the sale provide payments to EMX as summarized below (gold payments can be made as gold bullion or the cash equivalent):</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              US$2,000,000
              cash payment ($2,630,760) to EMX upon closing of the sale (received);
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              500
              ounces of gold every six months commencing February 2, 2017 up to a cumulative total of
              7,000
              ounces of gold. Received US$601,825
              in February, 2017 and US$634,825
              in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of
              6,000
              ounces of gold (or the cash equivalent) to be paid to EMX.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              7,000
              ounces of gold within
              30
              days after the commencement of commercial production from the Property provided that prior gold payments will be credited against this payment;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              250
              ounces of gold upon production of
              100,000
              ounces of gold from the Property;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              250
              ounces of gold upon production of an aggregate of
              500,000
              ounces of gold from the Property;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">A sliding-scale royalty in the amount of the following percentages of production returns after certain deductions (&#8220;Royalty&#8221;) for ore mined from the Property:</p>
          </td>
        </tr>
    </table>
    <br/>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td width="15%">&#160;</td>
          <td align="left">o</td>
          <td align="left" width="79%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              For gold production:
              1.0% on the first
              100,000
              ounces of gold;
              2.0% on the next
              400,000
              ounces of gold;
              3.0% on all gold production in excess of
              500,000
              ounces produced from the Property, and;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td width="15%">&#160;</td>
          <td align="left">o</td>
          <td align="left" width="79%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              For all production other than gold production:
              3.0%.
            </p>
          </td>
        </tr>
    </table>
    <br/>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">The Royalty is uncapped and cannot be bought out or reduced.</td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In addition, &#199;iftay must conduct a drilling program of at least
      3,000
      meters on the Property during each 12-month period commencing on August 5, 2016 until commencement of commercial production.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Pursuant to the agreement, &#199;iftay has guaranteed the future payments of
      2,500
      ounces of gold, or cash equivalent. As at December 31, 2017, the Company has recorded a receivable of $2,447,595
      (including $167,718
      of accreted interest income) related to the guaranteed payments which was estimated using a valuation model that requires significant judgments and assumptions, including to future metal prices and discount rates. Included in the calculation for the year ended December 31, 2017, the Company used a long term gold price of US$1,332
      per ounce and a discount rate of
      6%.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The sale of AES resulted in a gain of $6,683,560, resulting from proceeds of $6,737,452, less the net assets of AES of $53,892
      which is included in the gain on acquisition and sale of exploration and evaluation assets for the year ended December 31, 2016.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Subsequent to December 31, 2017, EMX received a payment of US$665,525
      on February 5, 2018, as the cash equivalent to the third
      500
      ounce gold bullion payment to be made under the terms of the agreement.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Sisorta Property</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On April 2, 2012, the Company and Chesser Resources Ltd (&#8220;Chesser&#8221;) executed an agreement to sell the Sisorta property to &#199;olakoglu Ticari Yatrim A.S. (&#8220;&#199;olakoglu&#8221;) for a combination of option payments and expenditure requirements. &#199;olakoglu terminated the option effective March 21, 2013, leaving Chesser and the Company with a
      51% and
      49% interest in the Sisorta project, respectively. Until March 2015, the Company accounted for its
      49% interest as an Investment in Associated Company and had written down the value of the investment to $Nil
      due to the pick-up of its share of net losses in the associated company. On March 20, 2015, Chesser and the Company signed definitive agreements pursuant to which the Company acquired all of Chesser&#8217;s interest in the Sisorta project for a total purchase price of $156,800
      (AUD$162,092). As a result of the purchase, the Company recorded a gain on acquisition of $26,407, and $131,440
      of the purchase price was allocated to exploration and evaluation assets.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Effective July 1, 2016, the Company entered into a share purchase agreement for the sale of EBX Madencilik A.S. (&#8220;EBX&#8221;), a wholly-owned subsidiary that controlled the Sisorta gold property in Turkey, to Bahar Madencilik Sinayi ve Ticaret Ltd Sti ("Bahar"), a privately owned Turkish company.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The agreement provides for Bahar's staged payments to EMX as summarized below:</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              US$250,000
              cash payment ($332,969) to EMX upon closing of the sale (received).
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Annual cash payments of US$125,000
              (received) beginning on July 1, 2017 until commencement of commercial production from the Property.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              3.5% of production returns after certain deductions (&#8220;NSR Payment") for ore mined from the Property that is processed on-site (increased to
              5% if the ore is processed off-site).
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              The Advance Cash Payments will be credited at a rate of
              80% against the NSR Payment payable after commercial production commences.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">The NSR Payment is uncapped and cannot be bought out or reduced.</p>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Pursuant to the sale of Sisorta, during the year ended December 31, 2016, the Company paid a finders fee of US$48,740
      ($63,549) and recorded a gain on the sale of EBX of $86,041
      which is included in the gain (loss) on acquisition and sale of exploration and evaluation assets. The future annual cash payments are not accrued as there is no guarantee of payment, and the shares of EBX could be returned if the payments are not made.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <i>Balya Property</i>
      </b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      EMX holds an uncapped
      4% NSR royalty that it retained from the sale of the property to Dedeman Madencilik San ve Tic. A.S. ("Dedeman"), a privately owned Turkish company, in 2006. The Balya royalty due to EMX from 2016 production totaled US$154,299, from which Dedeman's earlier advance royalty payment of US$100,000
      was credited, resulting in an adjusted payment to EMX of US$54,299. Including applicable taxes in Turkey, $40,217
      (US$30,762) has been included in royalty income. The AMR&#8217;s and net royalty payments have been included in Royalty income.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Golcuk Transfer and Royalty Agreement</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On July 17, 2012, amended on January 29, 2013, and amended again by a second amending agreement dated as of November 8, 2016, the Company entered into an agreement with Pasinex Resources Limited (&#8220;PRL&#8221;) to transfer a
      100% interest in the Golcuk property in exchange for PRL issuing shares to the Company as follows,
    </p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              500,000
              PRL shares on the initial issuance date (received during the year ended December 31, 2013 and valued at $27,500
              or $0.055
              per share);
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              An additional
              500,000
              PRL shares on or before the first anniversary of the initial issuance date (received during the year ended December 31, 2014 and valued at $25,000
              or $0.05
              per share);
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              An additional
              1,000,000
              PRL shares on or before the second anniversary of the initial issuance date (received in February 2015 and valued at $115,000
              or $0.115
              per share); and,
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              An additional
              1,000,000
              PRL Shares on or before the third anniversary of the initial issuance date (received in February 2016 and valued at $55,000
              or $0.055
              per share).
            </p>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In addition to the transfer of shares, Pasinex will then pay the Company a
      2.9% NSR royalty from production. Pasinex may pay the first minimum royalty payment by delivering
      664,483
      common shares in the capital of PRL to the Royalty Holder on or before November 30, 2016 (received valued at $79,738). Pasinex has the option of purchasing
      0.9% of the royalty for US$1,000,000
      prior to the
      6
      <sup>th</sup>
      anniversary of the effective date of the agreement. In 2017 EMX received
      224,150
      shares of Pasinex and US$49,204
      in cash for the advance royalty payment due in September, 2017.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Tumad Agreement - Trab-23</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Trab-23 property is located in northeast Turkey. In February 2013 Tumad Madencilik San.Ve TIC, A.S. (&#8220;Tumad&#8221;), executed an option agreement (the &#8220;Trab-23 Agreement&#8221;) to acquire Trab-23 from the Company. The Trab-23 Agreement provides an upfront transfer of the two licenses to Tumad, in-ground spending requirements, a revenue stream of annual earn-in and pre-production payments, and a revenue stream based upon production. The Trab-23 Agreement is contingent upon approval by Turkey&#8217;s General Directorate of Mining Affairs ("MIGEM") to combine the two licenses into a single exploitation license. This license combination and transfer occurred on September 11, 2014 (the &#8220;Transfer Date&#8221;). Provided that Tumad has made the payments and performed the work described in the Trab-23 Agreement, on or before September 11, 2017 Tumad may exercise its option to retain the property, and after such election, shall pay annual minimum royalties of US$100,000
      commencing upon the first anniversary of such exercise. Upon production from the Trab-23 licenses, Tumad will pay the Company a
      3% NSR royalty from production. The annual minimum royalties will be credited to
      80% of the NSR royalty then payable.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Tumad's payment and drill requirements have not been met and Tumad terminated the agreement in 2017, and is currently in the process of returning the property to
      100% EMX control.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Ferrite Agreement - Alankoy</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On December 20, 2013, the Company signed an Exploration and Option Agreement (the &#8220;Alankoy Agreement&#8221;) with Ferrite Resources Ltd. (&#8220;Ferrite&#8221;), a privately-held Australian company, whereby Ferrite had the option to acquire the Company&#8217;s subsidiaries that hold the Alankoy project, with the Company retaining a
      3% NSR. To do so, Ferrite paid US$35,000
      upon signing and must expend at least US$200,000
      on exploration activities each year for the three years after June 3, 2014 (the Effective Date). In addition, Ferrite is required to make annual deliveries of gold bullion to the Company as Advanced Annual Royalties (AARs) on each anniversary of the Effective Date.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In October 2015, Ferrite informed the Company they would not continue with the option agreement and paid to EMX US$25,000
      ($33,205) related to reimbursement of expenditures owed by Ferrite.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Alankoy Property</b>
      <b>&#8211;</b>
      <b>Black Sea Copper &amp; Gold Agreement</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On November 23, 2015, the Company signed an Exploration and Option Agreement with Black Sea Copper &amp; Gold Corp. (&#8220;Black Sea&#8221;), a privately-held British Columbia corporation, for the Alankoy copper-gold property in northwestern Turkey, whereby Black Sea has the option to acquire the Company&#8217;s subsidiaries that hold the Alankoy project, with the Company retaining a
      3% production royalty. To do so, Black Sea paid US$25,000
      (received $35,408
      in January 2016) upon signing and must incur certain exploration expenditure milestones.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In February 2017, the Company received notification that 0955767 B.C Ltd (Formerly Black Sea) was terminating the Alankoy agreement and paid US$16,439
      to EMX for reimbursement of costs. EMX has regained
      100% control of the project.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Aktutan Property</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      EMX has a royalty interest in the Aktutan polymetallic project sold to Dedeman in 2007 for considerations that include a
      4% uncapped NSR and annual advance royalty payments. During the year ended December 31, 2017, EMX received two advanced royalty payments on its Aktutan property for $261,473
      (US$200,000) from Dedeman.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>Australia exploration licenses</u>
      </b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s Australian properties are comprised of contiguous exploration licenses along the Koonenberry gold belt in New South Wales, Australia. The Australian properties are acquired either directly through staking or through agreements with license holders.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Koonenberry Property</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In February 2014, the Company signed an exploration and option agreement with North Queensland Mining Pty Ltd. (&#8220;NQM&#8221;), a privately-held Australian company, giving NQM the right to acquire the Company&#8217;s Koonenberry exploration licenses in New South Wales, Australia. NQM will bear responsibility of satisfying all existing work commitments and honoring all underlying property agreements during the term of the agreement. NQM has the option to earn a
      100% interest in the EMX subsidiary that holds the licenses, with EMX retaining a
      3% production royalty.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In 2017, Koonenberry Gold Pty Ltd. (&#8220;KNB&#8221;) completed the earn-in requirements under the exploration and option Agreement between NQM and the Company, and elected to acquire EMX&#8217;s Koonenberry exploration licenses. KNB, a private Australian company, is the successor in interest to NQM under the agreement. The Company transferred its wholly-owned subsidiary, EMX Exploration Pty Ltd, the holder of the Koonenberry licenses, to KNB. EMX retains a
      3% royalty on all future production from the Koonenberry licenses. As a result of this transaction, all of EMX&#8217;s interests in the Koonenberry gold project have now been converted to royalties. As a result of the sale, the Company recorded a loss of $87,987
      being the capitalized costs of the Koonenberry property and field equipment with a book value of $6,866
      transferred to KNB at the time of sale.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>New Zealand exploration licenses</u>
      </b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In September 2014, and amended in December 2015 the Company signed an option agreement with Land &amp; Mineral Limited (&#8220;L&amp;M&#8221;), a privately-held Australian company, giving L&amp;M the right to acquire Hauraki Gold Ltd. (&#8220;Hauraki&#8221;), the wholly-owned EMX subsidiary that controls the Neavesville gold-silver property located in the Hauraki goldfield of New Zealand&#8217;s North Island. The purchase and sale agreement included an execution payment of $100,000
      ($50,000
      received on signing in 2015, and $50,000
      received in May 2016, being the balance of the execution payment) and a series of anniversary and milestone payments equal to a certain amount of troy ounces of gold. Pursuant to the agreement, In September 2016, the Company received a $129,562
      payment equivalent to a required payment of
      75
      troy ounces of gold.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>Haiti exploration permits</u>
      </b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Eurasian and joint venture partner Newmont Ventures Limited (&#8220;Newmont&#8221;), a wholly owned subsidiary of Newmont Mining Corporation (collectively, the &#8220;JV&#8221;), had the right to establish specific exploration areas along the trend of Haiti&#8217;s Massif du Nord mineral belt. Newmont was funding and managing six joint venture Designated Projects (&#8220;DP&#8217;s&#8221;) across the exploration areas. The Company&#8217;s work on the
      100% controlled Grand Bois gold-copper project is outside of the JV with Newmont.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      On November 2, 2015, the Company terminated the EMX &#8211;Newmont JV that covered the six designated exploration areas and sold its interest in Haiti to Newmont for a $5,277,542
      (US$4,000,000) cash payment and a retained
      0.5% NSR royalty interest.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Exploration Expenditures</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the year ended December 31, 2017, the Company incurred the following exploration expenditures by projects, which were expensed as incurred:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
                <b>Scandinavia</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="20%">
                <b>USA</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
                <b>Turkey</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="15%">
                <b>Asia Pacific</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
                <b>Other</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
                <b>Total</b>
              </td>
              <td align="center" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>
                  Kennecott
                  <br/>
                </strong>
                <b>Exploration</b>
                &#160;&#160;
              </td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                &#160;
                <strong>
                  Anglo
                  <br/>
                </strong>
                <b>American</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                &#160;
                <strong>
                  Other
                  <br/>
                  USA
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
                &#160;
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              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>
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                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                &#160;
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              </td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
                <strong>Total</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Administration Cost</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                67,159
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                74
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                292
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                185,833
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                186,199
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                65,877
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                40,765
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                10,669
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                51,434
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                6,073
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                376,742
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Assays</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                24,972
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                7,727
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                6,031
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                13,758
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                940
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                39,670
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Drilling / Trenching</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                13,509
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                370
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                89,142
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                89,512
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                103,021
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Land and Legal</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                73,870
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                198,126
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                198,126
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                23,062
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                3,511
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                15,334
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                18,845
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                9,534
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                323,437
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Logistics</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                26,040
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                8,326
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                6,168
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                187,423
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                201,917
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                1,379
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                229,336
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Personnel</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                566,367
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                35,565
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                18,052
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                1,593,930
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                1,647,547
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                175,649
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                13,606
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                106,659
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                120,265
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                44,619
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                2,554,447
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Property Cost</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                347,792
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                77,768
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                6,498
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                6,498
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                93,506
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                72,497
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                72,497
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                27,180
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                277,449
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              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Share Based Payments</p>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                111,887
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                52,362
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                17,921
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                10,370
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                2,554
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                12,924
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                34,506
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                34,506
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                31,873
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                97,224
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              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                118,904
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                735
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                104,249
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                104,984
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                11,584
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                1,567
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                6,844
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                4,419
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                248,302
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              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                1,446,189
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                63,530
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                63,908
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                3,751,377
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                3,878,815
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                451,489
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                68,732
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                300,203
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                368,935
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                188,691
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                6,334,119
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Recoveries</p>
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (239,088
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (69,812
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (167,690
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (166,028
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (403,530
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (21,338
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (26,434
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (31,578
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (58,012
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (721,968
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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            <tr valign="top">
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Operator fees</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                (7,451
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                (22,319
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                (29,770
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="5%">
                (29,770
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                  Option Payments &amp;
                  <br/>
                  Shares Received
                </p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (750,000
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (64,901
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (110,333
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (175,234
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (122,326
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
                (1,047,560
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other Property Income</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (2,090
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (714
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (55,594
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (58,398
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (5,349
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (5,349
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (63,747
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Recoveries</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (989,088
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (144,254
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (168,404
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (354,274
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (666,932
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (143,664
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (31,783
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (31,578
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (63,361
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                (1,863,045
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Net Expenditures</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                457,101
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (80,724
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (104,496
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                3,397,103
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                3,211,883
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                307,825
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                36,949
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                268,625
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                305,574
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                188,691
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
                4,471,074
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the year ended December 31, 2017, The Company:</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Received or accrued $239,088
              in expenditures recovered from Boreal in Sweden;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Received
              3,000,000
              common shares of Sienna valued at $750,000
              ;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Received a $65,368
              (US$50,000) option payment related to an exploration and option to purchase agreement for the Copper King project with Kennecott;
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Received as part of the Copper Springs option agreement with Anglo American, US$82,000
              ($106,436) as reimbursement of previously paid land holding costs; and
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Recorded an option payment from Pasinex pursuant to a property agreement on the Company&#8217;s Golcuk property for the equivalent to
              75
              ounces of gold in the form of $61,805
              (US$49,204) cash and
              224,150
              shares of Pasinex valued at $60,521.
            </p>
          </td>
        </tr>
    </table>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the year ended December 31, 2016, the Company incurred the following exploration expenditures by projects, which were expensed as incurred:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="left" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <b>Scandinavia</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%">
                <b>USA</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
                <b>Turkey</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
                <b>Asia Pacific</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <b>Other</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <b>Total</b>
              </td>
              <td align="left" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>
                  Kennecott
                  <br/>
                  Exploration&#160;
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                &#160;
                <strong>
                  Desert
                  <br/>
                  Star
                  <br/>
                  Resources
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                &#160;
                <strong>
                  Other
                  <br/>
                  USA
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <strong>Total</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>Akarca</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>Other</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <strong>Total</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                &#160;
                <strong>
                  New
                  <br/>
                  Zealand
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>Other</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <strong>Total</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Administration Cost</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                37,498
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                109
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                25
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                157,106
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                157,240
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                27,055
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                92,397
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                119,452
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                2,220
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                9,520
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                11,740
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                24,650
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                350,580
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Assays</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                8,596
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                845
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                6,635
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                7,480
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                676
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                676
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Technical Studies</p>
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                106,093
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                16,107
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                58,773
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                38,383
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                6,544
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                44,927
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                11,397
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                11,397
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                163,444
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                384,634
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              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                63,571
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                103,478
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                103,478
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                16,310
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                31,479
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                47,789
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                6,861
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                6,861
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                16,382
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                238,081
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              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                892,287
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                537,112
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                53,983
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                2,751,111
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                3,342,206
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                726,614
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                699,640
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                1,426,254
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                39,946
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                227,126
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                267,072
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                487,714
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                6,415,533
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              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Recoveries</p>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (555,217
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (51,833
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (21,938
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (628,988
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (43,550
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                (43,550
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (48,781
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                (48,781
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                (721,319
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              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Operator fees</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                (56,271
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                (1,263
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                (57,534
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                (57,534
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Option Payments *</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                (24,720
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (125,890
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                (150,610
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (170,146
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (170,146
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (180,476
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (180,476
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (501,232
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other Property Income</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (9,720
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (265
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (39,755
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (49,740
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (56,466
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (56,466
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (27,243
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (27,243
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (2,040
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (135,489
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Recoveries</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (645,928
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (53,361
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (187,583
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (886,872
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (43,550
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (226,612
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (270,162
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (207,719
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (48,781
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (256,500
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (2,040
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (1,415,574
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Net Expenditures</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                892,287
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (108,816
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                622
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                2,563,528
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                2,455,334
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                683,064
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                473,028
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                1,156,092
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (167,773
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                178,345
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                10,572
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                485,674
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                4,999,959
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      *The Company received a $129,820
      (US$100,000) annual option payment related to an exploration and option to purchase agreement for the Superior West project with Kennecott applied as to $105,100
      to the Superior West capitalized costs, and $24,720
      to exploration recoveries.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Significant components of &#8220;Other&#8221; total exploration expenditures for the year ended December 31, 2016 were Haiti - $148,455
      ; Austria - $48,767
      ; and other general exploration costs in Europe totalling - $146,159.
    </p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the year ended December 31, 2015, the Company incurred the following exploration expenditures by projects, which were expensed as incurred:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <b>Scandinavia</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%">
                <b>USA</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
                <b>Turkey</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
                <b>Asia Pacific</b>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <b>Other *</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <b>Total</b>
              </td>
              <td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>
                  Kennecott
                  <br/>
                  &#160;Exploration&#160;
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>
                  Desert
                  <br/>
                  Star
                </strong>
                <br/>
                <strong>Resources</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>
                  Other
                  <br/>
                  USA
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <strong>Total</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>Akarca</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>Other</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <strong>Total</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>
                  New
                  <br/>
                  Zealand
                </strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
                <strong>Other</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
                <strong>Total</strong>
              </td>
              <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Administration Cost</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                61,523
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                676
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                1,271
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                127,873
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                129,820
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                16,296
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                43,532
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                59,828
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                4,767
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                2,932
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                7,699
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                44,763
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                303,633
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Assays</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                5,307
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                1,825
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                142
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                22,472
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                24,439
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                5,509
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                5,509
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                1,480
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                36,735
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (1,793
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (1,793
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (20,811
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                72,397
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              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Technical Studies</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                28,083
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                77,485
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                5,151
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                68,265
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                150,901
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                17,183
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                17,183
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                3,508
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                25,407
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                28,915
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                112,739
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                337,821
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              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Travel</p>
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                59,934
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                128
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                27,107
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                27,235
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                28,263
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                28,263
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                3,781
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                10,609
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                14,390
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                27,590
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                157,412
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              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Expenditures</p>
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                811,260
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                354,100
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                109,240
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                2,250,137
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                2,713,477
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                476,337
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                987,558
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                1,463,895
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                100,885
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                208,084
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                308,969
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                651,201
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                5,948,802
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              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Recoveries</p>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (426,190
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (118,065
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (93,549
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (637,804
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (295,024
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (33,305
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (96,675
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                (1,062,808
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              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Operator fees</p>
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                (44,067
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              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                (4,258
              </td>
              <td align="left" valign="bottom" width="1%">)</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                (9,457
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                (57,782
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="2%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="4%">
                (57,782
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Option Payments</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (31,955
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (127,820
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (159,775
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                (242,820
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (242,820
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
                (402,595
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other Property Income</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (13,102
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (32,922
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (46,024
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (14,918
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (14,918
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                -
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (60,942
              </td>
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Recoveries</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (515,314
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (122,323
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (263,748
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (901,385
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (295,024
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (276,125
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (571,149
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (14,918
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (14,918
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (96,675
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                (1,584,127
              </td>
              <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Net Expenditures</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
                811,260
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (161,214
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
                (13,083
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">)</td>
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                1,986,389
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              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                1,812,092
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              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                181,313
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                711,433
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              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                892,746
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              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                85,967
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                208,084
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                294,051
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                554,526
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              <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                4,364,675
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      *Significant components of &#8220;Other&#8221; total exploration expenditures for the year ended December 31, 2015 were Haiti - $359,827
      ; Germany - $107,899
      ; Austria - $69,667
      ; and Russia - $32,137.
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ROYALTY INTEREST<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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      <b>10. ROYALTY INTEREST</b>
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                29,327,960
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              <td align="left" nowrap="nowrap" valign="bottom" width="12%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Depletion</p>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
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                (3,973,699
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustments</p>
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                5,161,567
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2015</p>
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                28,798,980
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Acquisition</p>
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                145,000
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (2,163,221
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                (949,607
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2016</p>
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                25,831,152
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Depletion</p>
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (2,282,276
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                (1,605,133
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2017</p>
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              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                21,943,743
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2016, the Company acquired a
      2% NSR royalty on all precious metals and a
      1% NSR royalty on all other minerals for the Maggie Creek property (non-producing) in Nevada, and a
      1% NSR royalty on all minerals for the Afgan property (non-producing) in Nevada from Golden Predator US Holdings Corp, a wholly-owned subsidiary of Till Capital Ltd. (&#8220;TCL&#8221;). In consideration of the acquisition, the Company issued
      250,000
      of its common shares to TCL valued at $145,000.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Carlin Trend Royalty Claim Block</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company holds an interest in the Carlin Trend Royalty Claim Block in Nevada which includes the following Royalty Properties:</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Leeville Mine: Located in Eureka County, Nevada, the Company is receiving a continuing
      1% gross smelter return royalty (&#8220;GSRR&#8221;).
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      East Ore Body Mine: Located in Eureka County, Nevada, the property is currently being mined and the Company is receiving a continuing
      1% GSRR.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      North Pipeline: Located in Lander County, Nevada. Should the property become producing, the Company will receive a production royalty of US$0.50
      per yard of ore processed or
      4% of net profit, whichever is greater.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2017, $2,857,927
      (2016 - $2,227,322
      ; 2015 - $1,609,553) in royalty income was included in operations offset by a
      5% direct gold tax and depletion.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Impairment of Non-Current Assets</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s policy for accounting for impairment of non-current assets is to use the higher of the estimates of fair value less cost of disposal of these assets or value in use. The Company uses valuation techniques that require significant judgments and assumptions, including those with respect to future production levels, future metal prices and discount rates.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Non-current assets are tested for impairment when events or changes in circumstances suggest that the carrying amount may not be recoverable. The Company continuously reviews the production of gold from the Carlin Trend Royalty Claim Block, expected long term gold prices to be realized, foreign exchange, and interest rates. As a result, periodically the Company revises its estimated annual gold production over the expected mine life and adjusts it&#8217;s long term gold price. As a result of these adjustments, the Company recorded $Nil
      (2016 - $Nil, 2015 - $3,973,699) in impairment charges for the year ended December 31, 2017 related to the Carlin Trend Royalty Claim Block.
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749840272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RECLAMATION BONDS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfReclamationBondsExplanatoryTextBlock', window );">RECLAMATION BONDS [Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>11. RECLAMATION BONDS</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Reclamation bonds are held as security towards future exploration work and the related future potential cost of reclamation of the Company&#8217;s land and unproven mineral interests. Once reclamation of the properties is complete, the bonds will be returned to the Company.</p>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>December 31, 2017</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Australia - various properties</p>
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
                &#160;
                -
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              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
                67,694
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Sweden - various properties</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                12,625
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                8,043
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Turkey - various properties</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                5,669
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                26,362
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">U.S.A - various properties</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                497,454
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                537,328
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
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              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                515,748
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                639,427
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of reclamation bonds explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762894320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>GOODWILL<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGoodwillExplanatory', window );">GOODWILL [Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>12. GOODWILL</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s goodwill represents the excess of the purchase price paid during fiscal 2012 for the acquisition of Bullion Monarch Mining Inc. over the fair value of the net identifiable tangible and intangible assets and liabilities acquired.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Changes in goodwill for the year ended December 31, 2017, 2016, and 2015:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2014</p>
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%">
                8,217,542
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" nowrap="nowrap" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Adjusted for:</p>
              </td>
              <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
              <td align="left" nowrap="nowrap" valign="bottom" width="12%">&#160;</td>
              <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Impairment charge</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (3,047,605
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustment</p>
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                1,331,949
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2015</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                6,501,886
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Adjusted for:</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Impairment charge</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (1,518,328
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustment</p>
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (230,234
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2016</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                4,753,324
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Adjusted for:</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="bottom" width="12%">&#160;</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Impairment charge</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                (2,709,239
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustment</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (223,778
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2017</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                1,820,307
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Company applies a one-step approach to determine if the Carlin Trend Royalty Claim Block and the related assets within the same Cash Generating Unit (&#8220;CGU&#8221;) are impaired (Note 10). The impairment loss is the amount by which the CGU&#8217;s carrying amount exceeds its recoverable amount. There was no impairment for the royalty interest and goodwill has been written down in conjunction with the decline of $2,709,239
      (2016 - $1,518,328, 2015 - $3,047,605) of the related deferred income tax liability.
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6758596000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ADVANCES FROM JOINT VENTURE PARTNERS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesExplanatory', window );">ADVANCES FROM JOINT VENTURE PARTNERS [Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>December 31, 2017</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                808,905
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                341,361
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                808,905
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                341,361
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of joint ventures. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B4<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B4_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6750043280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CAPITAL STOCK<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>14. CAPITAL STOCK</b>
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      <b>Authorized</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">As at December 31, 2017, the authorized share capital of the Company was an unlimited number of common and preferred shares without par value.</p>
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      <b>Common Shares</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the years ended December 31, 2017, 2016, and 2015, the Company:</p>
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            Completed a non-brokered private placement raising $7,000,000
            by the issuance of
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            per Unit. Each Unit was comprised of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share for $2.00
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            The Company incurred share issue costs totaling $438,018. Included in this amount was
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            Units (
            6% of the Units sold to investors introduced by finders) valued at $345,246
            and $92,772
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        <td align="left" width="90%">
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            The gross proceeds of the private placement were allocated using a residual value method with respect to the measurement of shares and warrants issued as private placement units. This resulted in $6,200,000
            recorded as share capital and $800,000
            being allocated to reserves. For the finders fees paid in Units, $305,789
            was allocated to capital and $39,457
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            Issued
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            Issued
            68,873
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            pursuant to employment and consulting agreements, of which the full amount has been included in exploration expenditures. Included in commitment to issue shares is $23,825
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            Issued
            245,000
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            (2016 - $166,600
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            Issued
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            (2016 - $145,000
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      <b>Stock Options</b>
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      The Company adopted a stock option plan (the &#8220;Plan&#8221;) pursuant to the policies of the TSX-V. The maximum number of shares that may be reserved for issuance under the plan is limited to
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            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              5,493,200
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              2.03
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            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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          <tr valign="top">
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              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Granted</p>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              1,341,500
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            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              0.66
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            <td align="left" valign="bottom" width="2%">&#160;</td>
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          <tr valign="top">
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Expired</p>
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            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              (1,406,200
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            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              2.12
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            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <tr valign="top">
            <td align="left" valign="bottom">
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            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              5,428,500
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              1.67
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Granted</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
              1,277,500
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
              1.30
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Exercised</p>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              (165,000
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            <td align="left" valign="bottom" width="2%">)</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              0.77
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            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Expired</p>
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              (1,729,500
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              2.66
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <tr valign="top">
            <td align="left" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2016</p>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              4,811,500
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              1.24
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Granted</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
              1,472,500
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
              1.20
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Exercised</p>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              (75,000
            </td>
            <td align="left" valign="bottom" width="2%">)</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="12%">
              1.14
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Expired</p>
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              (961,500
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              1.97
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2017</p>
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              5,247,500
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              1.10
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr>
            <td bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Number of options exercisable as at December 31, 2017</p>
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              5,235,000
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              1.10
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The following table summarizes information about the stock options which were outstanding and exercisable at December 31, 2017:</p>
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          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                <b>Date Granted</b>
              </p>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Number of Options</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Exercisable</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Exercise Price $</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Expiry Date</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">April 25, 2014</p>
            </td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
              1,290,500
            </td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
              1,290,500
            </td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
              1.20
            </td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">April 25, 2019</td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">June 26, 2014</p>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              17,500
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              17,500
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              0.88
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">June 26, 2019</td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">December 22, 2014</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              60,000
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              60,000
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              0.87
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">December 22, 2019</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">June 8, 2015</p>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              1,167,500
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              1,167,500
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              0.66
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">June 8, 2020</td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">October 18, 2016</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              1,239,500
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              1,239,500
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              1.30
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">October 18, 2021</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">August 28, 2017*</p>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              1,472,500
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              1,460,000
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              1.20
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">August 28, 2022</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr>
            <td bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="10%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="10%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="10%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="10%">&#160;</td>
            <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              5,247,500
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            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              5,235,000
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            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      *
      25,000
      Options granted for investor relations services vest
      25% every
      3
      months from the date of grant.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The weighted average remaining useful life of stock options is
      3.10
      years (2016 &#8211;
      2.92
      years; 2015 &#8211;
      3.56
      years).
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Restricted share units</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">In 2017, the Company introduced a long-term restricted share unit plan (&#8220;RSUs&#8221;). The RSU&#8217;s entitle employees, directors, or officers to common shares of the Company upon vesting based on vesting terms determined by the Company&#8217;s Board of Directors at the time of grant.</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Expiry Date</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">December 31, 2016</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">Granted</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">Vested</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">Expired/Cancelled</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">December 31, 2017</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">December 31, 2019</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
              -
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
              312,500
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
              -
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
              -
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
              312,500
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The total RSU share-based expense recognized in the consolidated statements of comprehensive loss was $27,575
      for the year ended December 31, 2017. The RSU&#8217;s had a a fair value of $1.01
      per unit on grant date.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Share-based Payments</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      During the year ended December 31, 2017, the Company recorded aggregate share-based payments of $1,415,639
      (2016 - $970,796
      ; 2015 - $542,513) as they relate to the fair value of stock options granted or vested during the period, fair value of incentive stock grants, the fair value of RSU&#8217;s vested during the period, and the accrual for the fair value of stock granted. Share-based payments for the years ended December 31, 2017, 2016, and 2015 are allocated to expense accounts as follow:
    </p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>General and</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" nowrap="nowrap" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" valign="bottom" width="10%">
              <b>Administrative</b>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" valign="bottom" width="10%">
              <b>Exploration</b>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                <b>Year ended December 31, 2017</b>
              </p>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Expenses</b>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Expenditures</b>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Total</b>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Shares issued for services</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              85,500
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              272,990
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              358,490
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Commitment to issue shares</p>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              -
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              23,825
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              23,825
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">RSU's vested</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              27,575
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              -
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              27,575
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Fair value of stock options granted</p>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              562,979
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              442,770
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              1,005,749
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              676,054
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              739,585
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              1,415,639
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
        </table>
    <br/>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>General and</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" nowrap="nowrap" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" valign="bottom" width="10%">
              <b>Administrative</b>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" valign="bottom" width="10%">
              <b>Exploration</b>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                <b>Year ended December 31, 2016</b>
              </p>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Expenses</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Expenditures</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Total</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Commitment to issue shares</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              27,462
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              &#160;
              -
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              27,462
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Fair value of stock options granted</p>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              440,477
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              502,857
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              943,334
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              467,939
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              502,857
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              970,796
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
        </table>
    <br/>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>General and</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" nowrap="nowrap" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" valign="bottom" width="10%">
              <b>Administrative</b>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" valign="bottom" width="10%">
              <b>Exploration</b>
            </td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="10%">&#160;</td>
            <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
                <b>Year ended December 31, 2015</b>
              </p>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Expenses</b>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Expenditures</b>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Total</b>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Commitment to issue shares</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              100,233
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              (34,144
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              66,089
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Fair value of stock options granted</p>
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              369,883
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              106,541
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              476,424
            </td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              100,233
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              (34,144
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              542,513
            </td>
            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The weighted average fair value of the stock options granted during the year ended December 31, 2017 was $0.70
      per stock option (2016 - $0.74
      ; 2015 - $0.36) . The fair value of stock options granted was estimated using the Black-Scholes option pricing model with weighted average assumptions as follows:
    </p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Year ended</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Year ended</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>Year ended</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>December 31, 2017</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>December 31, 2016</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              <b>December 31, 2015</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Risk free interest rate</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              1.53%
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              0.73%
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              1.02%
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Expected life (years)</p>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              5
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              5
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="10%">
              5
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" bgcolor="#e6efff" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Expected volatility</p>
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              70.81%
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              69.80%
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
              62.33%
            </td>
            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Dividend yield</p>
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              -
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              -
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              -
            </td>
            <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
        </table>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Warrants</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the years ended December 31, 2017, 2016, and 2015, the change in warrants outstanding is as follow:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%">
              <b>Weighted Average</b>
            </td>
            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr valign="top">
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
            </td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              <b>Number</b>
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            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
              9,175,533
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            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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            <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
              4.56
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            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              4.56
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          <tr valign="top">
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              <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2015 and 2016</p>
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              -
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            <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
              -
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            <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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          <tr valign="top">
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
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            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              2,623,306
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            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              2.00
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            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
              2,623,306
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              2.00
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            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The following table summarizes information about the warrants which were outstanding and exercisable at December 31, 2017:</p>
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            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              2,500,004
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            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
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              2.00
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            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
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              123,302
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              2.00
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            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
            <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">April 12, 2019</td>
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            <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
              2,623,306
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            <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                (4,159,013
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                (9,053,435
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                2,261,886
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                3,212,368
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              <td align="left" valign="bottom" width="1%">&#160;</td>
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                2,433,008
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                76,820
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              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                124,805
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                118,541
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (1,820,307
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (4,753,324
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (6,501,886
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">As at December 31, 2017, no deferred tax assets are recognized on the following temporary differences as it is not probable that sufficient future taxable profit will be available to realize such assets:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2017</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2016</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2015</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">Expiry Date Range</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Tax loss carry forwards</p>
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                42,094,000
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                39,318,000
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                37,728,000
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                2026
                -
                2037
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Exploration and evaluation assets</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                1,485,000
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                2,137,000
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                10,022,960
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">No expiry</td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                10,425,000
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                11,371,000
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                8,385,770
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">No expiry</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Income Tax Expense</b>
    </p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2017</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2016</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2015</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Current tax expense</p>
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                &#160;
                -
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                &#160;
                -
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                &#160;
                -
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Deferred tax recovery</p>
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (2,489,902
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (1,439,332
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (3,431,230
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (2,489,902
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (1,439,332
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (3,431,230
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
        </table>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The provision for income taxes differs from the amount calculated using the Canadian federal and provincial statutory income tax rates of
      27.00% (2016 &#8211;
      26%; 2015 &#8211;
      26.00%) as follows:
    </p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2017</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2016</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2015</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Expected income tax (recovery)</p>
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                (2,569,654
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                (886,149
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">)</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                (2,679,842
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Effect of lower tax rates in foreign jurisdictions</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                (1,534,592
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                (474,971
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                (2,393,803
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Permanent differences</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,007,427
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,010,562
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                2,594,459
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Change in unrecognized deductible temporary differences and other</p>
              </td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                260,595
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                (1,428,442
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                (60,006
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Foreign exchange</p>
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                346,322
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                339,668
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (892,038
              </td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
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              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (2,489,902
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (1,439,332
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                (3,431,230
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In September 2017, the British Columbia (BC) Government proposed changes to the general corporate income tax rate to increase the rate from
      11% to
      12% effective January 1, 2018 and onwards. This change in tax rate was substantively enacted on October 26, 2017. The relevant deferred tax balances have been remeasured to reflect the increase in the Company's combined Federal and Provincial (BC) general corporate income tax rate from
      26% to
      27%.
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      In December 2017, the United States Government proposed changes to the Federal corporate income tax rate to reduce the rate from
      35% to
      21% effective January 1, 2018 and onwards. This change in tax rate was substantively enacted on December 22, 2017. The relevant deferred tax balances have been remeasured to reflect the decrease in the Company's Federal income tax rate from
      35% to
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
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              <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
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              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Payments</b>
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              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
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              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                733,244
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                361,865
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,095,109
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" valign="bottom">
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                149,882
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                226,614
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                376,496
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Seabord Services Corp.</p>
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                357,600
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                357,600
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                1,240,726
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                588,479
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                1,829,205
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Share-based</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
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                  <b>For the year ended December 31, 2016</b>
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              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Salary or Fees</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Payments</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Total</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Management</p>
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                803,033
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                215,933
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,018,966
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" valign="bottom">
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                151,228
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                167,534.00
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                318,762
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Seabord Services Corp.</p>
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                357,600
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                357,600
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                1,311,861
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                383,467
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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                1,695,328
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,067,210
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                108,637
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,175,847
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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                158,257
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                79,898
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                238,155
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              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                413,700
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                -
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                413,700
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                1,639,167
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                188,535
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                1,827,702
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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      * Directors fees include US$5,000
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        <p align="justify" style="font-family: times,serif; font-size: 10pt;">Seabord Services Corp. (&#8220;Seabord&#8221;) is a management services company controlled by the Chairman of the Board of Directors of the Company. Seabord provides a Chief Financial Officer, a Corporate Secretary, accounting and administration staff, and office space to the Company. The Chief Financial Officer and Corporate Secretary are employees of Seabord and are not paid directly by the Company.</p>
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      Included in the table above for the year ended December 31, 2015 is $247,660
      in termination payments to a former officer of the Company. The amount has been included in Other expenses for that year.
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      Included in accounts payable and accrued liabilities at December 31, 2017 is $7,177
      (2016 - $5,913) owed to key management personnel and $23,568
      (2016 - $17,559) to other related parties. By way of a common director, included in Notes receivable (Note 7) are certain balances owing from a related party.
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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                &#160;
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              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
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              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
                81,124
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              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
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                437,755
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                437,755
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              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                232,547
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                232,547
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                1,171,664
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              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                1,393,574
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                1,841,966
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                2,145,000
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>December 31, 2016</b>
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                &#160;
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              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
                8,376
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              <td align="right" valign="bottom" width="12%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
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              <td align="right" valign="bottom" width="12%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                26,159
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                3,110
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                -
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              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                1,091
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              <td align="left" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                424,119
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              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                459,127
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
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              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                450,278
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                471,704
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Company&#8217;s royalty interest, goodwill, deferred income tax liability and royalty income and depletion are from a CGU located in the U.S.A, except for a $200,000
      royalty interest held in Serbia.
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RISK AND CAPITAL MANAGEMENT FINANCIAL INSTRUMENTS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>18. RISK AND CAPITAL MANAGEMENT: FINANCIAL INSTRUMENTS</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company considers items included in shareholders&#8217; equity as capital. The Company&#8217;s objective when managing capital is to safeguard the Company&#8217;s ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      As at December 31, 2017, the Company had working capital of $6,535,893
      (2016 - $6,002,318). The Company has continuing royalty income that will vary depending on royalty ounces received, the price of gold, and foreign exchange rates on US royalty payments. The Company manages the capital structure and makes adjustments in light of changes in economic conditions and the risk characteristics of the underlying assets. The Company estimates it will need additional financing within the next
      12
      months to undertake it&#8217;s current business plan. In order to maintain or adjust the capital structure, the Company may issue new shares through public and/or private placements, sell assets, or return capital to shareholders. The Company is not subject to externally imposed capital requirements.
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      <b>Fair Value</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company characterizes inputs used in determining fair value using a hierarchy that prioritizes inputs depending on the degree to which they are observable. The three levels of the fair value hierarchy are as follows:</p>
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            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">Level 1: inputs represent quoted prices in active markets for identical assets or liabilities. Active markets are those in which transactions occur in sufficient frequency and volume to provide pricing information on an ongoing basis.</p>
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          <td align="left">&#160;</td>
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            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">Level 2: inputs other than quoted prices that are observable, either directly or indirectly. Level 2 valuations are based on inputs, including quoted forward prices for commodities, market interest rates, and volatility factors, which can be observed or corroborated in the market place.</p>
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          <td align="left">&#160;</td>
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            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">Level 3: inputs that are less observable, unavoidable or where the observable data does not support the majority of the instruments&#8217; fair value.</p>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">As at December 31, 2017, there were no changes in the levels in comparison to December 31, 2016. Financial instruments measured at fair value on the statement of financial position are summarized in levels of the fair value hierarchy as follows:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <b>Assets</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Level 1</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Level 2</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Level 3</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>Total</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">Cash and cash equivalents</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                3,533,611
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              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                &#160;
                -
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                &#160;
                -
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                3,533,611
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" valign="bottom">Restricted cash</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                771,434
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                771,434
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">Fair value through profit or loss investments</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,139,447
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
                1,139,447
              </td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">Strategic investments</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                2,199,199
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                -
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="10%">
                2,199,199
              </td>
              <td align="left" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Accounts receivable</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                3,376,411
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                -
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                3,376,411
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Total</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                7,643,691
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                3,376,411
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                &#160;
                -
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              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                11,020,102
              </td>
              <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The carrying value of receivables (excluding the receivable related to the sale of certain Turkish subsidiaries in the year ended December 31, 2016), notes receivable, accounts payable and accrued liabilities, and advances from joint venture partners approximate their fair value because of the short-term nature of these instruments.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Accounts receivable, including both long and current portions related to the sale of certain Turkish subsidiaries in the year ended December 31, 2016 were valued using a pricing model which require a variety of inputs, such as expected gold prices and foreign exchange rates. Included in the calculation for the year ended December 31, 2017, the Company used a long term gold price of US$1,332
      per ounce and a discount rate of
      6%. These receivables are valued using observable market commodity prices and thereby classified within Level 2 of the fair value hierarchy.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s financial instruments are exposed to certain financial risks, including credit risk, interest rate risk, market risk, liquidity risk and currency risk.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Credit Risk</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company is exposed to credit risk by holding cash and cash equivalents and receivables. This risk is minimized by holding a significant portion of the funds in Canadian banks. The Company&#8217;s exposure with respect to its receivables is primarily related to royalty streams, recovery of exploration evaluation costs, and the sale of AES (Note 9).</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Interest Rate Risk</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company is exposed to interest rate risk because of fluctuating interest rates. Management believes the interest rate risk is low given interest rates on promissory notes is fixed and the current low global interest rate environment. Fluctuations in market rates is not expected to have a significant impact on the Company&#8217;s operations due to the short term to maturity and no penalty cashable feature of its cash equivalents.</p>
        <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Market Risk</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Company is exposed to market risk because of the fluctuating values of its publicly traded marketable securities and other company investments. The Company has no control over these fluctuations and does not hedge its investments. Based on the December 31, 2017 portfolio values, a
      10% increase or decrease in effective market values would increase or decrease net shareholders&#8217; equity by approximately $334,000.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Liquidity Risk</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Liquidity risk is the risk that the Company is unable to meet its financial obligations as they come due. The Company manages this risk by careful management of its working capital to ensure the Company&#8217;s expenditures will not exceed available resources.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Commodity Risk</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s royalty revenues are derived from a royalty interest and are based on the extraction and sale of precious and base minerals and metals. Factors beyond the control of the Company may affect the marketability of metals discovered. Metal prices have historically fluctuated widely. Consequently, the economic viability of the Company&#8217;s royalty interests cannot be accurately predicted and may be adversely affected by fluctuations in mineral prices.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Currency Risk</b>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Foreign exchange risk arises when future commercial transactions and recognized assets and liabilities are denominated in a currency that is not the entity&#8217;s functional currency. The Company operates in Canada, Turkey, Sweden, Australia and the U.S.A. The Company funds cash calls to its subsidiary companies outside of Canada in US dollars and a portion of its expenditures are also incurred in local currencies.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The exposure of the Company&#8217;s cash and cash equivalents, restricted cash, receivables, convertible notes receivable, and accounts payable and accrued liabilities to foreign exchange risk as at December 31, 2017 is as follows:</p>
              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <b>Accounts</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                <b>US dollars</b>
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              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">Cash and cash equivalents</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
                2,286,117
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              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
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              <td align="right" valign="bottom" width="12%">
                615,636
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
                2,442,545
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              <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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            <tr valign="top">
              <td align="left" valign="bottom">Accounts payable and accrued liabilities</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="right" valign="bottom" width="12%">
                (446,604
              </td>
              <td align="left" valign="bottom" width="2%">)</td>
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            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Advances from joint venture partners</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                (644,497
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Net exposure</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                4,253,198
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Canadian dollar equivalent</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
                5,338,027
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The balances noted above reflect the US dollar balances held within the parent company and any wholly owned subsidiaries. Balances denominated in another currency other than the functional currency held in foreign operations are considered immaterial.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Based on the above net exposure as at December 31, 2017, and assuming that all other variables remain constant, a
      10% depreciation or appreciation of the Canadian dollar against the US dollar would result in an increase/decrease of approximately $534,000
      in the Company&#8217;s pre-tax profit or loss.
    </p><span></span>
</td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>19. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS</b>
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              <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>December 31, 2017</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>December 31, 2016</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                <b>December 31, 2015</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">Cash</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                3,354,109
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                3,132,480
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
                5,365,271
              </td>
              <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Short-term deposits</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                179,502
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                67,206
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
              <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                269,330
              </td>
              <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Total</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                3,533,611
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                3,199,686
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
                5,634,601
              </td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
            </tr>
        </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The significant non-cash investing and financing transactions during the year ended December 31, 2017 included:</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">a.</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Recorded a gain through accumulated other comprehensive income of $609,733
              related to the fair value adjustments on AFS financial instruments;
            </p>
          </td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">b.</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Adjusted non-current assets and liabilities for $1,424,814
              related to cumulative translation adjustments (&#8220;CTA&#8221;), of which $1,605,133
              relates to CTA loss on royalty interest, $223,778
              relates to CTA loss on goodwill, $443,115
              relates to a CTA gain on deferred tax liability and $39,018
              relates to CTA loss in the net assets of a subsidiary with a functional currency different from the presentation currency;
            </p>
          </td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">c.</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Reclass of reserves on exercise of options for $45,545
              ;
            </p>
          </td>
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        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">d.</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Recorded the movement of $1,017,540
              from a convertible loan to an investment in associated company upon conversion of the loan (Note 8); and
            </p>
          </td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">e.</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Recorded through reserves $39,457
              related to the value of warrants issued as finders fees as part of a private placement (Note 14).
            </p>
          </td>
        </tr>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The significant non-cash investing and financing transactions during the year ended December 31, 2016 included:</p>
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          <td width="5%">&#160;</td>
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          <td>
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              Recorded a gain through accumulated other comprehensive income of $88,515
              related to the fair value adjustments on AFS financial instruments;
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          </td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
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          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              Issuance of
              140,000
              incentive stock grants valued at $166,600
              applied to commitment to issue shares;
            </p>
          </td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
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          <td>
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              Adjusted reserves and investment in associated companies for $366,800
              related to share-based payments made by an associated company;
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              Adjusted non-current assets and liabilities for $862,335
              related to cumulative translation adjustments (&#8220;CTA&#8221;), of which $949,607
              relates to CTA loss on royalty interest, $230,234
              relates to CTA loss on goodwill, $309,230
              relates to a CTA gain on deferred tax liability and $8,276
              relates to CTA gain in the net assets of a subsidiary with a functional currency different from the presentation currency; and
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          <td>
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              Recorded the movement of $1,605,466
              from a convertible loan to an investment in associated company upon conversion of the loan (Note 8).
            </p>
          </td>
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    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The significant non-cash investing and financing transactions during the year ended December 31, 2015 included:</p>
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              Recorded a loss through accumulated other comprehensive income of $105,714
              related to the fair value adjustments on available-for-sale (&#8220;AFS&#8221;) financial instruments;
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          <td width="5%">&#160;</td>
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              Issuance of
              163,000
              bonus shares valued at $233,950
              applied to commitment to issue shares;
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          </td>
        </tr>
        <tr>
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              Adjusted reserves and investment in associated companies for $322,900
              related to share-based payments made by an associated company; and
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              Adjusted non-current assets and liabilities for $4,350,667
              related to cumulative translation adjustments (&#8220;CTA&#8221;), of which $5,161,567, relates to CTA gain on royalty interest, $1,331,949
              relates to CTA gain on goodwill, $1,715,574
              relates to a CTA loss on deferred tax liability and $427,275
              relates to a CTA loss in the net liabilities of a subsidiary with a functional currency different from the presentation currency.
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a statement of cash flows.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Section Presentation of a statement of cash flows<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=sect_Presentationofastatementofcashflows&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6750042560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EVENTS AFTER THE REPORTING DATE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory', window );">EVENTS AFTER THE REPORTING DATE [Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>20. EVENTS SUBSEQUENT TO THE REPORTING DATE</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Subsequent to the year ended December 31, 2017, the Company,</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>Sweden</u>
      </b>
    </p>
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        <tr>
          <td valign="top" width="5%">a)</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              executed a definitive agreement for the sale of the Guldgruvan cobalt project to Boreal Energy Metals Corporation (&#8220;BEMC&#8221;), subsidiary of BMC in southern Norway. Pursuant to the agreement, BEMC will acquire
              100% interest in the project according to the following terms (all dollar amounts in USD):
            </p>
          </td>
        </tr>
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    <br/>
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          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              At closing, BEMC will issue to EMX that number of common shares of BEMC that represents a
              5.9% equity ownership in BEMC. BEMC will have the continuing obligation to issue additional shares of BEMC to EMX to maintain its
              5.9% interest, at no additional cost to EMX, until BEMC has raised $3,000,000
              in equity. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its
              5.9% interest in BEMC.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">At closing, EMX will transfer its Guldgruvan exploration licenses to BEMC.</p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              EMX will retain a
              3% NSR royalty on the Project, of which
              1% may be purchased by BEMC on or before the fifth anniversary of the closing date in
              0.5% increments for a total of $2,500,000
              in cash and common shares of BEMC stock.
            </p>
          </td>
        </tr>
        <tr valign="top">
          <td align="left">&#160;</td>
          <td align="left" width="5%">&#8226;&#160;&#160;</td>
          <td align="left" width="90%">
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              EMX will receive AAR payments, with an initial $20,000
              payment, commencing on the second anniversary of the closing, with each subsequent AAR payment increasing by $5,000
              per year until reaching $60,000
              per year. Once reaching $60,000, AAR payments will be adjusted each year according to the Consumer Price Index (as published by the U.S. Department of Labor, Bureau of Labor Statistics).
            </p>
          </td>
        </tr>
    </table>
    <br/>
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        <tr>
          <td valign="top" width="5%">b)</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              amended the sale agreement with BMC (Note 9) to include the Modum project in Norway in exchange for an additional
              1,324,181
              common shares of BMC. EMX now holds
              10,530,063
              common shares of BMC representing
              19.9% of the outstanding common shares.
            </p>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>Buckhorn Creek Property</u>
      </b>
    </p>
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        <tr>
          <td valign="top" width="5%">c)</td>
          <td>
            <p align="justify" style="font-family: times,serif; font-size: 10pt; margin: inherit;">
              executed an Option Agreement with Kennecott whereby Kennecott can earn a
              100% interest in the project by: a) making annual option payments totaling US$550,000, and b) completing US$4,500,000
              in exploration expenditures before the fifth anniversary of the agreement. Upon exercise of the option, EMX will retain a
              2% NSR royalty on the project which is not capped or purchasable. After exercise of the option, annual advance minimum payments and milestone payments will be due to EMX.
            </p>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>
        <u>Turkey</u>
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    </p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td valign="top" width="5%">d)</td>
          <td>
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              received a payment of US$665,525
              on February 5, 2018, as the cash equivalent to the third
              500
              ounce gold bullion payment to be made under the terms of the agreement (Note 10).
            </p>
          </td>
        </tr>
    </table><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=10&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763634000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory', window );">Basis of Consolidation [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Basis of Consolidation</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The consolidated financial statements comprise the accounts of EMX Royalty Corp., the parent company, and its controlled subsidiaries, after the elimination of all significant intercompany balances and transactions.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <i>Subsidiaries</i>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Subsidiaries are all entities over which the Company has exposure to variable returns from its involvement and has the ability to use power over the investee to affect its returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Company controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company until the date on which control ceases.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The accounts of subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. Inter-company transactions, balances and unrealized gains or losses on transactions are eliminated. The Company&#8217;s principal operating subsidiaries are as follows:</p>
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            <tr valign="top">
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
                <b>Name</b>
              </td>
              <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%">
                <b>Place of Incorporation</b>
              </td>
              <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="25%">
                <b>Ownership Percentage</b>
              </td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">Bullion Monarch Mining, Inc</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Utah, USA</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">EMX (USA) Services Corp.</td>
              <td align="left" valign="bottom" width="25%">Nevada, USA</td>
              <td align="right" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">Bronco Creek Exploration Inc.</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Arizona, USA</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">Eurasia Madencilik Ltd. Sirketi</td>
              <td align="left" valign="bottom" width="25%">Turkey</td>
              <td align="right" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">Azur Madencilik Ltd. Sirketi</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Turkey</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">Eurasian Minerals Cooperatief U.A.</td>
              <td align="left" valign="bottom" width="25%">Netherlands</td>
              <td align="right" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" valign="bottom">Eurasian Minerals Sweden AB</td>
              <td align="left" bgcolor="#e6efff" valign="bottom" width="25%">Sweden</td>
              <td align="right" bgcolor="#e6efff" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" valign="bottom">Viad Royalties AB</td>
              <td align="left" valign="bottom" width="25%">Sweden</td>
              <td align="right" valign="bottom" width="25%">
                100%
              </td>
            </tr>
            <tr valign="top">
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Waikato Gold Limited</td>
              <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%">New Zealand</td>
              <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="25%">
                100%
              </td>
            </tr>
        </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory', window );">Functional and Reporting Currency [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Functional and Reporting Currency</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The functional currency is the currency of the primary economic environment in which the entity operates. The functional currency for the Company and its subsidiaries is the Canadian dollar except the functional currency of the operations of Bullion Monarch which is the US dollar. The functional currency determinations were conducted through an analysis of the consideration factors identified in IAS
      21, The Effects of Changes in Foreign Exchange Rates.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <i>Translation of transactions and balances</i>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Monetary assets and liabilities denominated in foreign currencies are re-measured at the rate of exchange at each financial position date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">On translation of the entities whose functional currency is other than the Canadian dollar, revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Assets and liabilities are translated at the rate of exchange at the reporting date. Exchange gains and losses, including results of re-translation, are recorded in the foreign currency translation reserve.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Financial Instruments [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Financial Instruments</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">All financial instruments are classified into one of the following four categories:</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">(a)</td>
          <td>Financial assets and financial liabilities at fair value through profit or loss (&#8220;FVTPL&#8221;)</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>&#160;</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>Financial assets and financial liabilities classified as FVTPL are acquired or incurred principally for the purpose of selling or repurchasing them in the near term. They are recognized at fair value based on market prices, with any resulting gains and losses reflected in profit or loss for the period in which they arise.</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>&#160;</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">(b)</td>
          <td>Held-to-maturity financial assets</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>&#160;</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>Held-to-maturity financial assets are non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity. They are measured at amortized cost using the effective interest rate method less any impairment loss. A gain or loss is recognized in profit or loss when the financial asset is derecognized or impaired, and through the amortization process.</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>&#160;</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">(c)</td>
          <td>Available for sale financial assets</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>&#160;</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>Available for sale (&#8220;AFS&#8221;) financial assets are non-derivative financial assets that are designated as available for sale, or that are not classified as loans and receivables, held-to-maturity investments, or FVTPL. They are measured at fair value. Fair value is determined based on market prices. Equity instruments that do not have a quoted market price in an active market are measured at cost. Gains and losses are recognized directly in other comprehensive income (loss) until the financial asset is derecognized, at which time the cumulative gain or loss previously recognized in accumulated other comprehensive income (loss) is recognized in profit or loss for the period.</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>&#160;</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td valign="top" width="5%">(d)</td>
          <td>Loans and receivables and other financial liabilities</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>&#160;</td>
        </tr>
        <tr>
          <td width="5%">&#160;</td>
          <td width="5%">&#160;</td>
          <td>Loans and receivables and other financial liabilities are measured at amortized cost, using the effective interest rate method less any impairment loss.</td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s financial instruments consist of cash and cash equivalents, investments, receivables, restricted cash, reclamation bonds, notes receivable, strategic investments, accounts payable and accrued liabilities, and advances from joint venture partners. Unless otherwise noted the fair value of these financial instruments approximates their carrying values.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Cash and cash equivalents are classified as loans and receivables. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Warrants held through investments are classified as derivative financial assets at FVTPL and are accounted for at fair value. For warrants that are not traded on an exchange, no market value is readily available. When there are sufficient and reliable observable market inputs, a valuation technique is used; if no such market inputs are available, the warrants are valued at intrinsic value, which is equal to the higher of the market value of the underlying security less the exercise price of the warrant, or zero.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Investments (Marketable securities) classified as FVTPL are measured at fair market value. Changes in fair value of FVTPL assets are reflected in profit or loss in the period in which they occur. Changes in fair value of AFS assets are reflected in accumulated other comprehensive income on the statement of financial position until sold or if there is an other than temporary impairment in value.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Reclamation bonds are classified as financial assets held-to-maturity.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company classifies its restricted cash and certain receivables as loans and receivables and its accounts payable and accrued liabilities and advances from joint venture partners as other financial liabilities.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Certain receivables related to the sale of Akarca (Note 4) are considered to be derivative financial assets as they are subject to variations in gold price per ounce on record date and final price received and are accordingly classified as FVTPL. The derivative receivable is recorded at fair value each period until final settlement occurs, with changes in fair value reflected in profit or loss for the period in which they arise.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory', window );">Impairment of Financial Assets [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Impairment of Financial Assets</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows of the financial assets have been impacted.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">For all financial assets, objective evidence of impairment could include:</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">Significant financial difficulty of the issuer or counterparty;</td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">Default or delinquency in interest or principal payments; or,</td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">It becoming probable that the borrower will enter bankruptcy or financial re-organization.</td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">For certain categories of financial assets that are assessed not to be impaired individually, they are subsequently assessed for impairment on a collective basis. The carrying amount of financial assets is reduced by the impairment loss directly for all financial assets with the exception of receivables, where the carrying amount is reduced through the use of an allowance account. When a receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">With the exception of FVTPL marketable securities, if in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. In respect of AFS marketable securities, impairment losses previously recognized through profit or loss are not reversed through profit or loss. Any increase in fair value subsequent to an impairment loss is recognized directly in equity.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory', window );">Convertible Notes Receivable [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Convertible Notes Receivable</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The notes receivable are hybrid financial assets that consist of a note receivable component and a separate equity conversion component. The conversion feature is measured at fair value on initial recognition by discounting the stream of future interest and principal payments at the rate of interest prevailing at the date of the issue for instruments of similar term and risk. Interest income based on the rate of the note will be receivable on maturity are recognized through profit and loss as interest income. The equity conversion option is an embedded derivative that has been separated from the notes receivable and is valued based on residual value.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates', window );">Investments in Associated Companies [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Investments in Associated Companies</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company accounts for its long-term investments in affiliated companies over which it has significant influence using the equity basis of accounting, whereby the investment is initially recorded at cost, adjusted to recognize the Company&#8217;s share of earnings or losses and reduced by dividends received.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company assesses its equity investments for impairment if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the equity investment and that the event or events has an impact on the estimated future cash flow of the investment that can be reliably estimated. Objective evidence of impairment of equity investments includes:</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">Significant financial difficulty of the associated companies;</td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">Becoming probable that the associated companies will enter bankruptcy or other financial reorganization; or,</td>
        </tr>
        <tr valign="top">
          <td width="5%">&#160;</td>
          <td align="left">&#8226;</td>
          <td align="left" width="90%">National or local economic conditions that correlate with defaults of the associated companies.</td>
        </tr>
    </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures', window );">Exploration and evaluation assets and exploration expenditures [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Exploration and evaluation assets and exploration expenditures</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Acquisition costs for exploration and evaluation assets, net of recoveries, are capitalized on a property-by-property basis. Acquisition costs include cash consideration and the value of common shares, based on recent issue prices, issued for exploration and evaluation assets pursuant to the terms of the agreement. Exploration expenditures, net of recoveries, are charged to operations as incurred. After a property is determined by management to be commercially feasible, an impairment test is conducted and subsequent development expenditures on the property will be capitalized.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">When there is little prospect of further work on a property being carried out by the Company or its partners, when a property is abandoned, or when the capitalized costs are no longer considered recoverable, the related property costs are written down to management&#8217;s estimate of their net recoverable amount. The costs related to a property from which there is production, together with the costs of production equipment, will be depleted and amortized using the unit-of-production method.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">An exploration and evaluation asset acquired under an option agreement, where payments are made at the sole discretion of the Company, is capitalized at the time of payment. Option payments received are treated as a reduction of the carrying value of the related acquisition cost for the mineral property until the payments are in excess of acquisition costs, at which time they are then credited to profit or loss. Option payments are at the discretion of the optionee and, accordingly, are accounted for when receipt is reasonably assured.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Revenue recognition [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Revenue recognition</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      The Company recognizes revenue in accordance with
      <i>IAS 18 Revenue</i>
      and based upon amounts contractually due pursuant to the underlying royalty agreements. Specifically, royalty revenue is recognized in accordance with the terms of the underlying royalty agreements subject to (i) when persuasive evidence of an arrangement exists; (ii) the risks and rewards of ownership have been transferred; (iii) the royalty or stream being fixed or determinable; and (iv) the collectability of the royalty being reasonably assured. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of revenue and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Royalty revenue may be subject to adjustment upon final settlement of estimated metal prices, weights, and assays. Adjustments to revenue from metal prices are recorded monthly and other adjustments are recorded on final settlement and are offset against revenue when incurred.
    </p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptonOfAccountingPolicyForRoyaltyInterestsExplanatoryPolicyTextBlock', window );">Royalty interests [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Royalty interests</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Royalty interests in mineral properties include acquired royalty interests in production stage and exploration stage properties. In accordance with
      <i>IAS 38 Intangible Assets</i>
      , the cost of acquired royalty interests in mineral properties is capitalized as intangible assets.
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Acquisition costs of production stage royalty interests are depleted using the units of production method over the life of the related mineral property, which is calculated using estimated reserves. Acquisition costs of royalty interests on exploration stage mineral properties, where there are no estimated reserves, are not amortized. At such time as the associated exploration stage mineral interests are converted to estimated reserves, the cost basis is amortized over the remaining life of the mineral property, using the estimated reserves. The carrying values of exploration stage mineral interests are evaluated for impairment at such time as information becomes available indicating that production will not occur in the future.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory', window );">Goodwill [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Goodwill</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Goodwill represents the excess of the price paid for the acquisition of a consolidated entity over the fair value of the net identifiable tangible and intangible assets and liabilities acquired in a business combination. Goodwill is allocated to the cash generating unit to which it relates.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Property and equipment [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Property and equipment</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Property and equipment is recorded at cost. Buildings are depreciated using a
      5
      year straightline method. Equipment is depreciated over its estimated useful life using the declining balance method at a rate of
      20% per annum. Depreciation on equipment used directly on exploration projects is included in exploration expenditures for that mineral property.
    </p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory', window );">Decommissioning liabilities [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Decommissioning liabilities</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Decommissioning liabilities are recognized for the expected obligations related to the retirement of long-lived tangible assets that arise from the acquisition, construction, development or normal operation of such assets. A decommissioning liability is recognized in the period in which it is incurred and when a reasonable estimate of the fair value of the liability can be made with a corresponding decommissioning cost recognized by increasing the carrying amount of the related long-lived asset. The decommissioning cost is subsequently allocated in a rational and systematic method over the underlying asset&#8217;s useful life.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The initial fair value of the liability is accreted, by charges to profit or loss, to its estimated future value.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfAccountingPolicyForEnvironmentalDisturbanceRestorationExplanatoryPolicyTextBlock', window );">Environmental disturbance restoration [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Environmental disturbance restoration</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">During the operating life of an asset, events such as infractions of environmental laws or regulations may occur. These events are not related to the normal operation of the asset and are referred to as environmental disturbance restoration provisions. The costs associated with these provisions are accrued and charged to profit or loss in the period in which the event giving rise to the liability occurs. Any subsequent adjustments to these provisions due to changes in estimates are also charged to profit or loss in the period of adjustment. These costs are not capitalized as part of the long-lived assets&#8217; carrying value.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory', window );">Impairment of assets [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Impairment of assets</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Events or changes in circumstances can give rise to significant impairment charges or reversals of impairment in a particular year. The Company assesses its cash generating units annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, an estimate of the recoverable amount is made, which is the higher of the fair value less costs to sell and value in use. The determination of the recoverable amount for value in use requires the use of estimates and assumptions such as long-term commodity prices, discount rates, future capital requirements, exploration potential and future operating performance. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm&#8217;s length transaction between knowledgeable and willing parties.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents', window );">Cash and cash equivalents [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Cash and cash equivalents</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Cash and cash equivalents include cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory', window );">Share-based payments [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Share-based payments</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Share-based payments include option and stock grants granted to directors, employees and non-employees. The Company accounts for share-based compensation using a fair value based method with respect to all share-based payments measured and recognized, to directors, employees and non-employees. For directors and employees, the fair value of the options and stock grants is measured at the date of grant. For non-employees, the fair value of the options and stock are measured at the fair value of the goods or services received or the fair value of the equity instruments issued, if it is determined the fair value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received. For directors, employees and non-employees, the fair value of the options and stock grants is accrued and charged to operations, with the offsetting credit to share based payment reserve for options, and commitment to issue shares for stock grants over the vesting period. If and when the stock options are exercised, the applicable amounts are transferred from share-based payment reserve to share capital. When the stock grants are issued, the applicable fair value is transferred from commitment to issue shares to share capital. Option based compensation awards are calculated using the Black-Scholes option pricing model while stock grants are valued at the fair value on the date of grant.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has granted certain employees and non-employess restricted share units (&#8220;RSUs&#8221;) to be settled in shares of the Corporation. The fair value of the estimated number of RSUs that will eventually vest, determined at the date of grant, is recognized as share-based compensation expense over the vesting period, with a corresponding amount recorded as equity. The fair value of the RSUs is estimated using the market value of the underlying shares as well as assumptions related to the market and non-market conditions at the grant date.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory', window );">Income taxes [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Income taxes</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Income tax expense consists of current and deferred tax. Income tax expense is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is calculated providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Deferred tax is not recognized on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable income nor loss. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">A deferred tax asset is recognized to the extent that it is probable that future taxable income will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory', window );">Income (loss) per share [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Income (loss) per share</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Basic income or loss per share is calculated by dividing the net income or loss for the year by the weighted average number of shares outstanding during the year. Diluted income or loss per share is calculated whereby the weighted average number of shares outstanding used in the calculation of diluted income or loss per share assumes that the deemed proceeds received from the exercise of stock options, share purchase warrants and their equivalents would be used to repurchase common shares of the Company at the average market price during the year, if they are determined to have a dilutive effect.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Existing stock options and share purchase warrants have not been included in the current year computation of diluted loss per share as to do so would be anti-dilutive. For the years presented the basic and diluted losses per share are the same.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory', window );">Valuation of equity units issued in private placements [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Valuation of equity units issued in private placements</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The fair value of the common shares issued in the private placements was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted bid price on the day prior to the issuance date. The balance, if any, was allocated to the attached warrants. Any fair value attributed to the warrants is recorded in reserves.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory', window );">Segment reporting [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Segment reporting</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segment, has been identified as the Chief Executive Officer.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements', window );">Accounting pronouncements not yet effective [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Accounting pronouncements not yet effective</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The following standards and pronouncements have been issued by the IASB and have not yet been adopted by the Company.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">IFRS 9 requires financial assets to be classified into three measurement categories on initial recognition: those measured at fair value through profit and loss, those measured at fair value through other comprehensive income and those measured at amortized cost. Measurement and classification of financial assets is dependent on the entity&#8217;s business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. For financial liabilities, the standard retains most of the IAS 39 requirements.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">In May 2014, the IASB issued IFRS 15 Revenue from Contracts with Customers ("IFRS 15"), which supersedes IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and SIC 31 Revenue - Barter Transactions involving Advertising Services. IFRS 15 establishes a single five-step model framework for determining the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. The standard is effective for annual periods beginning on or after January 1, 2018, with early adoption permitted.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">IFRS 16 Leases was issued in January 2016 (effective January 1, 2019) and provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company expects that these new IFRS standards will have an insignificant effect on its consolidated financial statements other than increased note disclosure.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfAccountingPolicyForCriticalAccountingJudgmentsAndSignificantEstimatesAndUncertaintiesExplanatoryPolicyTextBlock', window );">Critical Accounting Judgments and Significant Estimates and Uncertainties [Policy Text Block]</a></td>
<td class="text"><p align="justify" style="font-family: times,serif; font-size: 10pt;">
      <b>Critical Accounting Judgments and Significant Estimates and Uncertainties</b>
    </p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The preparation of the consolidated financial statements requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported revenue and expenses during the periods presented therein. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, royalty revenues and expenses. Management bases its judgments and estimates on historical experience and on other various factors it believes to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions and conditions.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company has identified the following critical accounting policies in which significant judgments, estimates and assumptions are made and where actual results may differ from these estimates under different assumptions and conditions and may materially affect financial results or the financial position reported in future periods. Further details of the nature of these assumptions and conditions may be found in the relevant notes to the consolidated financial statements.</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td valign="top" width="5%">
            <i>a)</i>
          </td>
          <td>
            <i>Royalty interest and related depletion</i>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">In accordance with the Company&#8217;s accounting policy, royalty interests are evaluated on a periodic basis to determine whether there are any indications of impairment. If any such indication exists, a formal estimate of recoverable amount is performed and an impairment loss recognized to the extent that carrying amount exceeds recoverable amount. The recoverable amount of a royalty asset is measured at the higher of fair value less costs to sell and value in use. The determination of fair value and value in use requires management to make estimates and assumptions about expected production and sales volumes, the proportion of areas subject to royalty rights, commodity prices (considering current and historical prices, price trends and related factors), and reserves. These estimates and assumptions are subject to risk and uncertainty; hence there is a possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances, some or all of the carrying value of the assets may be further impaired or the impairment charge reduced with the impact recorded in profit or loss.</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td valign="top" width="5%">
            <i>b)</i>
          </td>
          <td>
            <i>Goodwill</i>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Impairment is determined by assessing if the carrying value of a cash generating unit, including the allocated goodwill, exceeds its recoverable amount. The assessment of the recoverable amount used in the goodwill impairment analysis is subject to similar judgments and estimates as described above for property and equipment and royalty interests.</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td valign="top" width="5%">
            <i>c)</i>
          </td>
          <td>
            <i>Exploration and Evaluation Assets</i>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Recorded costs of exploration and evaluation assets are not intended to reflect present or future values of exploration and evaluation assets. The recorded costs are subject to measurement uncertainty and it is reasonably possible, based on existing knowledge, that a change in future conditions could require a material change in the recognized amount.</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td valign="top" width="5%">
            <i>d)</i>
          </td>
          <td>
            <i>Taxation</i>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The Company&#8217;s accounting policy for taxation requires management&#8217;s judgment as to the types of arrangements considered to be a tax on income in contrast to an operating cost. Judgment is also required in assessing whether deferred tax assets and certain deferred tax liabilities are recognized on the statement of financial position.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Deferred tax assets, including those arising from unused tax losses, capital losses and temporary differences, are recognized only where it is considered probable that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Deferred tax liabilities arising from temporary differences caused principally by the expected royalty revenues generated by the royalty property are recognized unless expected offsetting tax losses are sufficient to offset the taxable income and therefore, taxable income is not expected to occur in the foreseeable future. Assumptions about the generation of future taxable profits depend on management&#8217;s estimates of future cash flows. These depend on estimates of future production and sales volumes, commodity prices, and reserves. Judgments are also required about the application of income tax legislation in foreign jurisdictions. These judgments and assumptions are subject to risk and uncertainty, hence there is a possibility that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets and deferred tax liabilities recognized on the statement of financial position and the amount of other tax losses and temporary differences not yet recognized. In such circumstances, some or the entire carrying amount of recognized deferred tax assets and liabilities may require adjustment, resulting in a corresponding credit or charge to profit or loss.</p>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements include, but are not limited to, the following:</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td valign="top" width="5%">
            <i>a)</i>
          </td>
          <td>
            <i>Functional Currencies</i>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">The functional currency of each of the Company&#8217;s subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions, which determined the primary economic environment.</p>
    <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr>
          <td valign="top" width="5%">b)</td>
          <td>
            <i>Classification of investments as subsidiaries, joint ventures, associated company and portfolio investments</i>
          </td>
        </tr>
    </table>
    <p align="justify" style="font-family: times,serif; font-size: 10pt;">
      Classification of investments requires judgement as to whether the Company controls, has joint control of or significant influence over the strategic financial and operating decisions relating to the activity of the investee. In assessing the level of control or influence that the Company has over an investment, management considers ownership percentages, board representation as well as other relevant provisions in shareholder agreements. If an investor holds
      20% or more of the voting power of the investee, it is presumed that the investor has significant influence, unless it can be clearly demonstrated that this is not the case. Conversely, if the investor holds less than
      20% of the voting power of the investee, it is presumed that the investor does not have significant influence, unless such influence can be clearly demonstrated.
    </p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for critical accounting judgments and significant estimates and uncertainties explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for environmental disturbance restoration explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Descripton of accounting policy for royalty interests explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for decommissioning, restoration and rehabilitation provisions. [Refer: Provision for decommissioning, restoration and rehabilitation costs]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for exploration and evaluation assets. [Refer: Exploration and evaluation assets [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the currency of the primary economic environment in which the entity operates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the impairment of assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the impairment of financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for investments in associates. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for issued capital. [Refer: Issued capital]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for loans and receivables. [Refer: Loans and receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for recognising revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 46<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_46&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of accounting policies relevant to an understanding of financial statements, which the entity does not separately disclose.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
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          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            2,396,251
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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            (1,256,804
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            1,139,447
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            2,396,251
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (1,256,804
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            1,139,447
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Marketable securities</p>
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            2,287,141
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            (87,942
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            2,199,199
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            4,683,392
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            (1,344,746
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            3,338,646
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>Accumulated</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
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          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>unrealized loss</b>
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          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>Fair value</b>
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          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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              <b>Fair value through profit or loss</b>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            1,641,751
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            (1,378,995
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            262,756
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <td align="left" bgcolor="#e6efff" valign="bottom">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            1,641,751
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (1,378,995
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            262,756
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" valign="bottom">
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              <b>Available-for-sale</b>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Marketable securities</p>
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            910,473
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            (697,675
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            212,798
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            2,552,224
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            (2,076,670
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            475,554
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            2,447,595
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            4,145,898
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            258,223
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            306,513
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            151,163
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            142,857
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            270,547
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            79,090
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            248,883
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            168,375
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            3,376,411
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            4,842,733
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            3,376,411
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            3,430,006
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            280,925
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            48,448
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            3,040,347
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            24,535
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            41,785
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            29,575
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            6,824
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            1,029
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            3,376,411
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            4,842,733
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            <b>Field</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            <b>Office</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            <b>Vehicles</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            <b>Building</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            <b>Land</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            <b>Total</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2014</p>
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            91,713
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            146,041
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            6,635
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            197,200
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            572,443
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            414,526
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            1,428,558
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            7,981
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            10,224
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            1,170
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            16,105
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            6,065
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            41,545
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (2,152
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (3,059
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (165,888
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (171,099
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2015</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            99,694
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            154,113
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            4,746
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            47,417
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            578,508
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            414,526
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            1,299,004
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            10,549
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            6,450
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            16,999
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (79,630
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (2,365
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (47,417
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (129,412
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2016</p>
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            110,243
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            80,933
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            2,381
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            578,508
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            414,526
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            1,186,591
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            20,447
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            4,337
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            24,784
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (20,756
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (20,756
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2017</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            110,243
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            60,177
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            2,381
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            &#160;
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            598,955
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            418,863
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            1,190,619
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
          </td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
              <b>Accumulated depreciation</b>
            </p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2014</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            91,713
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            106,850
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            3,958
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            157,625
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            317,183
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            &#160;
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            677,329
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            7,981
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            8,161
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            1,832
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            15,595
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            117,213
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            150,782
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (1,680
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (1,656
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (140,231
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (143,567
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2015</p>
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            113,331
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            4,134
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            32,989
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            434,396
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            684,544
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            7,438
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            12,601
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            671
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            115,490
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="8%">
            136,200
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (70,444
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (1,753
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (33,660
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (105,857
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2016</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            107,132
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            55,488
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            2,381
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            549,886
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            714,887
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Additions</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            3,111
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            7,104
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            29,129
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="8%">
            39,344
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Disposals and derecognition</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (13,890
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            (13,890
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">As at December 31, 2017</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            110,243
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            48,702
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            2,381
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            &#160;
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            579,015
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            &#160;
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            740,341
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
          </td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
          <td valign="bottom" width="1%">&#160;</td>
          <td valign="bottom" width="8%">&#160;</td>
          <td valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
              <b>Net book value</b>
            </p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="8%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
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            3,111
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            25,445
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            &#160;
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            &#160;
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
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            28,622
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          <td align="right" valign="bottom" width="8%">
            414,526
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          <td align="left" valign="bottom" width="1%">$</td>
          <td align="right" valign="bottom" width="8%">
            471,704
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            &#160;
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            11,475
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="8%">
            &#160;
            -
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            &#160;
            -
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            19,940
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            418,863
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            450,278
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory</td>
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<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS IN ASSOCIATED COMPANIES (Tables)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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          </td>
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            6,127,735
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            (1,108,694
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        <tr valign="top">
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (2,713,490
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        <tr valign="top">
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            41%
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            6,884,378
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            (1,471,260
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          <td align="right" valign="bottom" width="12%">
            39%
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6768971472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EXPLORATION AND EVALUATION ASSETS (Tables)<br></strong></div></th>
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<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
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<th class="th"><div>Dec. 31, 2015</div></th>
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          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>December 31, 2017</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>December 31, 2016</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">Asia Pacific</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Various</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            &#160;
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            81,124
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">Sweden</td>
          <td align="left" valign="bottom" width="51%">Various</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            16,671
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            16,671
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Viad royalties</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            421,084
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            421,084
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">Turkey</td>
          <td align="left" valign="bottom" width="51%">Alankoy</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            153,960
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            153,960
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Sisorta</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">&#160;</td>
          <td align="left" valign="bottom" width="51%">Trab</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            78,587
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            78,587
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">United States</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="51%">Superior West, Arizona</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            867,096
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            1,000,479
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">of America</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="51%">Yerington, Nevada</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            304,568
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            393,095
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Total</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="51%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            1,841,966
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            2,145,000
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
    </table><span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfDetailedInformationAboutExplorationExpendituresExplanatoryTableTextBlock', window );">Disclosure of detailed information about exploration expenditures [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
            <b>Scandinavia</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="20%">
            <b>USA</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
            <b>Turkey</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="15%">
            <b>Asia Pacific</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
            <b>Other</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
            <b>Total</b>
          </td>
          <td align="center" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>
              Kennecott
              <br/>
            </strong>
            <b>Exploration</b>
            &#160;&#160;
          </td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            &#160;
            <strong>
              Anglo
              <br/>
            </strong>
            <b>American</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            &#160;
            <strong>
              Other
              <br/>
              USA
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
            &#160;
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>
              New
              <br/>
              Zealand
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            &#160;
            <strong>Other</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="5%">
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Administration Cost</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            67,159
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            74
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            292
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            185,833
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            186,199
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            65,877
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            40,765
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            10,669
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            51,434
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            6,073
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            376,742
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Assays</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            24,972
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            7,727
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            6,031
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            13,758
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            940
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            39,670
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            120,265
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Technical Studies</p>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            17,921
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            10,370
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            2,554
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            12,924
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            34,506
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            34,506
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            31,873
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            97,224
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            118,904
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            735
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            104,249
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            104,984
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            11,584
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            1,567
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            6,844
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            8,411
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            4,419
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            248,302
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Expenditures</p>
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            1,446,189
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            63,530
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            63,908
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            3,751,377
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            3,878,815
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            451,489
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            68,732
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            300,203
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            368,935
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            188,691
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            6,334,119
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Recoveries</p>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            (239,088
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (69,812
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (167,690
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (166,028
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            (403,530
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            (21,338
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            (26,434
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (31,578
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            (721,968
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Operator fees</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            (7,451
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            (22,319
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            (29,770
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="5%">
            (29,770
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
              Option Payments &amp;
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            (750,000
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (64,901
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (110,333
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            (175,234
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            (122,326
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="5%">
            (1,047,560
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other Property Income</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (2,090
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (714
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (55,594
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (58,398
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (5,349
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (5,349
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (63,747
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Recoveries</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (989,088
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (144,254
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (168,404
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (354,274
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (666,932
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (143,664
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (31,783
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (31,578
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (63,361
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            (1,863,045
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Net Expenditures</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            457,101
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (80,724
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (104,496
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            3,397,103
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            3,211,883
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            307,825
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            36,949
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            268,625
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            305,574
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            188,691
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="5%">
            4,471,074
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
    </table><span></span>
</td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
          </td>
          <td align="left" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <b>Scandinavia</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%">
            <b>USA</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
            <b>Turkey</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
            <b>Asia Pacific</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <b>Other</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <b>Total</b>
          </td>
          <td align="left" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>
              Kennecott
              <br/>
              Exploration&#160;
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            &#160;
            <strong>
              Desert
              <br/>
              Star
              <br/>
              Resources
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            &#160;
            <strong>
              Other
              <br/>
              USA
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>Akarca</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>Other</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            &#160;
            <strong>
              New
              <br/>
              Zealand
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>Other</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Administration Cost</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            37,498
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            109
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            25
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            157,106
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            157,240
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            27,055
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            92,397
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            119,452
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            2,220
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            9,520
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            11,740
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            24,650
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            350,580
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Assays</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            8,596
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            845
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            6,635
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            7,480
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            676
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            676
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            16,752
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Drilling / Trenching</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            76,687
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            314,972
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            91
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            315,063
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            44,283
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            14,679
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            58,962
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            450,712
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Land and Legal</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            48,632
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            182,160
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            182,160
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            39,603
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            160,831
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            200,434
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            23,778
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            23,778
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            40,384
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            495,388
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Logistics</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            14,535
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            57,164
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            1,822
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            70,590
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            129,576
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            13,810
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            5,708
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            19,518
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            135,527
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            13,664
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            13,664
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
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            22,029
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            83,606
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            1,772
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            2,268
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            17,625
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            106,093
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            16,107
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            58,773
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            6,544
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
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          <td align="left" valign="bottom" width="1%">&#160;</td>
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            11,397
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            11,397
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            163,444
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            103,478
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            16,310
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            47,789
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            6,861
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            16,382
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            238,081
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            892,287
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            537,112
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            53,983
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            2,751,111
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            3,342,206
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            726,614
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            699,640
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            1,426,254
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            39,946
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            227,126
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            267,072
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            487,714
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            6,415,533
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Recoveries</p>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (555,217
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (51,833
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (21,938
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (628,988
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (43,550
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (43,550
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (48,781
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (48,781
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (721,319
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Operator fees</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            (56,271
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            (1,263
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            (57,534
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            (57,534
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Option Payments *</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (24,720
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (125,890
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (150,610
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (170,146
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (170,146
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (180,476
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (180,476
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (501,232
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other Property Income</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            -
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (9,720
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (265
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (39,755
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (49,740
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (56,466
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (56,466
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (27,243
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (27,243
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (2,040
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (135,489
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Recoveries</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (645,928
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (53,361
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (187,583
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (886,872
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (43,550
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (226,612
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (270,162
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (207,719
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (48,781
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (256,500
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (2,040
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (1,415,574
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Net Expenditures</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            892,287
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (108,816
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            622
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            2,563,528
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            2,455,334
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            683,064
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            473,028
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            1,156,092
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (167,773
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            178,345
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            10,572
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            485,674
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            4,999,959
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
    </table><span></span>
</td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" valign="middle">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <b>Scandinavia</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="10" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="19%">
            <b>USA</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
            <b>Turkey</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" colspan="7" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="14%">
            <b>Asia Pacific</b>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <b>Other *</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <b>Total</b>
          </td>
          <td align="center" nowrap="nowrap" rowspan="2" style="border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>
              Kennecott
              <br/>
              &#160;Exploration&#160;
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>
              Desert
              <br/>
              Star
            </strong>
            <br/>
            <strong>Resources</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>
              Other
              <br/>
              USA
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>Akarca</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>Other</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>
              New
              <br/>
              Zealand
            </strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">
            <strong>Other</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="1%">&#160;</td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="4%">
            <strong>Total</strong>
          </td>
          <td align="center" nowrap="nowrap" style="border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="middle" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Administration Cost</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            61,523
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            676
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            1,271
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            127,873
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            129,820
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            16,296
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            43,532
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            59,828
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            4,767
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            2,932
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            7,699
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            44,763
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            303,633
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Assays</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            5,307
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            1,825
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            142
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            22,472
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            24,439
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            5,509
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            5,509
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            1,480
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            36,735
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Drilling / Trenching</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            11,874
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            7,111
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            7,111
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            18,985
          </td>
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Land and Legal</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            39,518
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            132,178
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            132,178
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            23,208
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            45,957
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            69,165
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            4,914
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            10,136
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            15,050
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            31,480
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            287,391
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Logistics</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            26,978
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            32,211
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            2,646
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            98,391
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            133,248
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            12,014
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            40,408
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            52,422
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            499
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            4,475
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            4,974
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            423,697
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
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          <td align="left" valign="bottom" width="2%">&#160;</td>
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            1,261,865
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            1,440,369
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            101,586
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            147,143
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            201,162
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            2,979,118
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            60,369
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            75,530
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            292,905
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            8,921
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            44,322
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            53,243
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            43,094
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            1,028,506
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Professional Services</p>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            86,874
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            13,813
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            13,813
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            42,381
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            117,062
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            159,443
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            28,938
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            10,410
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            39,348
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            161,232
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            460,710
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Share Based Payments</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            7,103
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (1,793
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (1,793
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (20,811
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            72,397
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            28,083
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            77,485
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            5,151
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            68,265
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            150,901
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            17,183
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            17,183
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            3,508
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            25,407
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            28,915
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            112,739
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            337,821
          </td>
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Travel</p>
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            59,934
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            128
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            27,107
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            27,235
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
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            28,263
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            3,781
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            10,609
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            14,390
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            27,590
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            157,412
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            811,260
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            354,100
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            109,240
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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            2,250,137
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            2,713,477
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            476,337
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            987,558
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            1,463,895
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            100,885
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            208,084
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            308,969
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            651,201
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            5,948,802
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Recoveries</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (426,190
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (118,065
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (93,549
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (637,804
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (295,024
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (33,305
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (328,329
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          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (96,675
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (1,062,808
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Operator fees</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            (44,067
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            (4,258
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          <td align="left" valign="bottom" width="1%">)</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            (9,457
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            (57,782
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          <td align="left" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="2%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="4%">
            (57,782
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Option Payments</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (31,955
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (127,820
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (159,775
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            (242,820
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (242,820
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="2%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="4%">
            (402,595
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other Property Income</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            -
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (13,102
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (32,922
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          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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            (14,918
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (14,918
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            -
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (60,942
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total Recoveries</p>
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (515,314
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (122,323
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (263,748
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (901,385
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (295,024
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (276,125
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (571,149
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (14,918
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            -
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (14,918
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (96,675
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" bgcolor="#e6efff" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            (1,584,127
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          <td align="left" bgcolor="#e6efff" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Net Expenditures</p>
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            811,260
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (161,214
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            (13,083
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            1,986,389
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            1,812,092
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            181,313
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            711,433
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            892,746
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            85,967
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">
            208,084
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            294,051
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            554,526
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="4%">
            4,364,675
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          <td align="left" style="border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (1,716,848
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        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Impairment charge</p>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            (3,973,699
          </td>
          <td align="left" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustments</p>
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            5,161,567
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        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2015</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            28,798,980
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Adjusted for:</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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          <td align="right" valign="bottom" width="12%">
            145,000
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Depletion</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
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            (949,607
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            25,831,152
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        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Adjusted for:</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Depletion</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (2,282,276
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustments</p>
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          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            (1,605,133
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance, December 31, 2017</p>
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          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            21,943,743
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about royalty interest explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RECLAMATION BONDS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfDetailedInformationAboutReclamationBondsExplanatoryTableTextBlock', window );">Disclosure of detailed information about reclamation bonds [Table Text Block]</a></td>
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          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
            &#160;
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          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
            67,694
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        <tr valign="top">
          <td align="left" valign="bottom">
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          <td align="right" valign="bottom" width="12%">
            12,625
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            8,043
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Turkey - various properties</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            5,669
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            26,362
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          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            497,454
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            537,328
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            515,748
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
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            639,427
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about reclamation bonds explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762180080">
<tr>
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            8,217,542
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Adjusted for:</p>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (3,047,605
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        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustment</p>
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          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            1,331,949
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        <tr valign="top">
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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            6,501,886
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        </tr>
        <tr valign="top">
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Impairment charge</p>
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          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (1,518,328
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            (230,234
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            4,753,324
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          <td align="left" valign="bottom" width="12%">&#160;</td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Impairment charge</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            (2,709,239
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        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160; &#160; &#160;Cumulative translation adjustment</p>
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            (223,778
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            1,820,307
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the reconciliation of changes in goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
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            808,905
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            341,361
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            808,905
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            341,361
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          5,493,200
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          2.03
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Granted</p>
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        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          1,341,500
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        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          0.66
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        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Expired</p>
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          (1,406,200
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          2.12
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2015</p>
        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          5,428,500
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          1.67
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Granted</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          1,277,500
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          1.30
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Exercised</p>
        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          (165,000
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        <td align="left" valign="bottom" width="2%">)</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          0.77
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Expired</p>
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          (1,729,500
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          2.66
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2016</p>
        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          4,811,500
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          1.24
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Granted</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          1,472,500
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          1.20
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Exercised</p>
        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          (75,000
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        <td align="left" valign="bottom" width="2%">)</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="12%">
          1.14
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Expired</p>
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          (961,500
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          1.97
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2017</p>
        </td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          5,247,500
        </td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          1.10
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        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr>
        <td bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="12%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Number of options exercisable as at December 31, 2017</p>
        </td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          5,235,000
        </td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          1.10
        </td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
    </table><span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory', window );">Disclosure of range of exercise prices of outstanding share options [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
            <b>Date Granted</b>
          </p>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Number of Options</b>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Exercisable</b>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Exercise Price $</b>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Expiry Date</b>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">April 25, 2014</p>
        </td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
          1,290,500
        </td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
          1,290,500
        </td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
          1.20
        </td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">April 25, 2019</td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">June 26, 2014</p>
        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          17,500
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          17,500
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          0.88
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">June 26, 2019</td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">December 22, 2014</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          60,000
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          60,000
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          0.87
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">December 22, 2019</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">June 8, 2015</p>
        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          1,167,500
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          1,167,500
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          0.66
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">June 8, 2020</td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">October 18, 2016</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          1,239,500
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          1,239,500
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          1.30
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">October 18, 2021</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">August 28, 2017*</p>
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          1,472,500
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          1,460,000
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          1.20
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">August 28, 2022</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr>
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          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="10%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="10%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="10%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
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        <td bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
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        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          5,247,500
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        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          5,235,000
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        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfDetailedInformationAboutUnitsActivityExplanatory', window );">Disclosure of detailed information about restricted share units [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
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        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">December 31, 2016</td>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">Vested</td>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">Expired/Cancelled</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="13%">December 31, 2017</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">December 31, 2019</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
          -
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
          312,500
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
          -
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
          -
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="13%">
          312,500
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        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory', window );">Disclosure of share-based payment arrangements [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
      <tr valign="top">
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          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
        <td align="left" nowrap="nowrap" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" valign="bottom" width="10%">
          <b>Administrative</b>
        </td>
        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" valign="bottom" width="10%">
          <b>Exploration</b>
        </td>
        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
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        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Expenses</b>
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Expenditures</b>
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Shares issued for services</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          85,500
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          272,990
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          358,490
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Commitment to issue shares</p>
        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          -
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        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          23,825
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          23,825
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        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">RSU's vested</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          27,575
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          -
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          27,575
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Fair value of stock options granted</p>
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          562,979
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          442,770
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          1,005,749
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          676,054
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          739,585
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          1,415,639
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
    </table><span></span>
</td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>General and</b>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" nowrap="nowrap" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" valign="bottom" width="10%">
          <b>Administrative</b>
        </td>
        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" valign="bottom" width="10%">
          <b>Exploration</b>
        </td>
        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
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        </td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Expenses</b>
        </td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Expenditures</b>
        </td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
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      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Commitment to issue shares</p>
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          27,462
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          &#160;
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          27,462
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Fair value of stock options granted</p>
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          440,477
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          502,857
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          943,334
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          467,939
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          502,857
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          970,796
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
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</td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" nowrap="nowrap" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" valign="bottom" width="10%">
          <b>Administrative</b>
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        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" valign="bottom" width="10%">
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        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="10%">&#160;</td>
        <td align="left" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
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        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Expenses</b>
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Expenditures</b>
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Total</b>
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Commitment to issue shares</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          100,233
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          (34,144
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">)</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          66,089
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Fair value of stock options granted</p>
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          369,883
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          106,541
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          476,424
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          100,233
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          (34,144
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          542,513
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfDetailedInformationAboutOptionsValuationAssumptionsExplanatory', window );">Disclosure of detailed information about options, valuation assumptions [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Year ended</b>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Year ended</b>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Year ended</b>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>December 31, 2017</b>
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        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>December 31, 2016</b>
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        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>December 31, 2015</b>
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        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          1.53%
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          0.73%
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          1.02%
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" valign="bottom">
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        </td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          5
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          5
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
        <td align="left" valign="bottom" width="1%">&#160;</td>
        <td align="right" valign="bottom" width="10%">
          5
        </td>
        <td align="left" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
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        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          70.81%
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          69.80%
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
          62.33%
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
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        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          -
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        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          -
        </td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          -
        </td>
        <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
    </table><span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfDetailedInformationAboutWarrantsActivityExplanatory', window );">Disclosure of detailed information about warrants, activity [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="12%">
          <b>Weighted Average</b>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
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        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
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        <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2014</p>
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          9,175,533
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          4.56
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Expired</p>
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          (9,175,533
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          4.56
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2015 and 2016</p>
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          -
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        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
          -
        </td>
        <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;Issued</p>
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        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          2,623,306
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          2.00
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Balance as at December 31, 2017</p>
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          2,623,306
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
          2.00
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
      </tr>
    </table><span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfDetailedInformationAboutWarrantsOutstandingExplanatory', window );">Disclosure of detailed information about warrants outstanding [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
      <tr valign="top">
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
        </td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Number of Warrants</b>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          <b>Exercise Price</b>
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
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        <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
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        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
          2,500,004
        </td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
        <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
          2.00
        </td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
        <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">April 12, 2019</td>
        <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
      </tr>
      <tr valign="top">
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
          <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Finders warrants, April 12, 2017</p>
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        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          123,302
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          2.00
        </td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">April 12, 2019</td>
        <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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      <tr valign="top">
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        <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
          2,623,306
        </td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
        <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about options, valuation assumptions [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about restricted share units [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about warrants, activity [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about warrants outstanding [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the number and weighted average exercise prices of share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the range of exercise prices for outstanding share options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 44<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_44&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6731236912">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDeferredTaxesExplanatory', window );">Disclosure of deferred taxes [Table Text Block]</a></td>
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          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2017</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2016</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
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            (4,159,013
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          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            (8,090,497
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">)</td>
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          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            (9,053,435
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">)</td>
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        <tr valign="top">
          <td align="left" valign="bottom">
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            2,261,886
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            3,212,368
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            2,433,008
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            76,820
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            124,805
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            118,541
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
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          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            (1,820,307
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          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            (4,753,324
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            (6,501,886
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          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory', window );">Disclosure of temporary difference, unused tax losses and unused tax credits [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
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          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2017</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2016</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2015</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">Expiry Date Range</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Tax loss carry forwards</p>
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            42,094,000
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            39,318,000
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            37,728,000
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            2026
            -
            2037
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" valign="bottom">
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          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            1,485,000
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            2,137,000
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            10,022,960
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Other</p>
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            10,425,000
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            11,371,000
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            8,385,770
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">No expiry</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfIncomeTaxExpenseExplanatoryTableTextBlock', window );">Disclosure of income tax expense [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
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          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2017</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2016</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">December 31, 2015</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Current tax expense</p>
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            &#160;
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            &#160;
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            &#160;
            -
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Deferred tax recovery</p>
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            (2,489,902
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            (1,439,332
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
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            2,594,459
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            346,322
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            (2,489,902
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            (1,439,332
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          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Salary or Fees</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Payments</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Total</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Management</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            733,244
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            361,865
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            1,095,109
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Outside directors *</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            149,882
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            226,614
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            376,496
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Seabord Services Corp.</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            357,600
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            357,600
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            1,240,726
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            588,479
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            1,829,205
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
    </table><span></span>
</td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Share-based</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
              <b>For the year ended December 31, 2016</b>
            </p>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Salary or Fees</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Payments</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Total</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Management</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            803,033
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            215,933
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            1,018,966
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Outside directors *</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            151,228
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            167,534.00
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            318,762
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Seabord Services Corp.</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            357,600
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            357,600
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            1,311,861
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            383,467
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            1,695,328
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
    </table><span></span>
</td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">&#160;</p>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Share-based</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="10%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
              <b>For the year ended December 31, 2015</b>
            </p>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Salary or Fees</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Payments</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Total</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Management</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            1,067,210
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            108,637
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            1,175,847
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Outside directors *</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            158,257
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            79,898
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            238,155
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Seabord Services Corp.</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            413,700
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            413,700
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            1,639,167
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            188,535
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            1,827,702
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
    </table><span></span>
</td>
</tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information about key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>nonnum:textBlockItemType</td>
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<DOCUMENT>
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<SEQUENCE>68
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6626246656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SEGMENTED INFORMATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfExplorationAndEvaluationAssetsByLocationExplanatoryTableTextBlock', window );">Disclosure of exploration and evaluation assets by location [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
              <b>EXPLORATION AND EVALUATION ASSETS</b>
            </p>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>December 31, 2017</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>December 31, 2016</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Asia Pacific</p>
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
            &#160;
            -
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
            81,124
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Sweden</p>
          </td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            437,755
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            437,755
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Turkey</p>
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            232,547
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            232,547
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">U.S.A</p>
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            1,171,664
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            1,393,574
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            1,841,966
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            2,145,000
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfPropertyAndEquipmentByLocationExplanatoryTableTextBlock', window );">Disclosure of property and equipment by location [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
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            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">
              <b>PROPERTY AND EQUIPMENT</b>
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          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>December 31, 2017</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>December 31, 2016</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
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          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
            &#160;
            -
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
            8,376
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
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          <td align="right" valign="bottom" width="12%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Sweden</p>
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          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            26,159
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            3,110
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Turkey</p>
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          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            -
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          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            1,091
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            424,119
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            459,127
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <p style="text-indent: -15pt; margin-left: 15pt; font-family: times,serif; font-size: 10pt;">Total</p>
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            450,278
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            471,704
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
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</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of exploration and evaluation assets by location explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of property and equipment by location explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R42.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749812592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RISK AND CAPITAL MANAGEMENT FINANCIAL INSTRUMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsExplanatory', window );">Disclosure of financial assets [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <b>Assets</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Level 1</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Level 2</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Level 3</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>Total</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">Cash and cash equivalents</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            3,533,611
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            &#160;
            -
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            &#160;
            -
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            3,533,611
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">Restricted cash</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            771,434
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            771,434
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">Fair value through profit or loss investments</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            1,139,447
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="10%">
            1,139,447
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">Strategic investments</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            2,199,199
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            -
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="10%">
            2,199,199
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Accounts receivable</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            3,376,411
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            -
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            3,376,411
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Total</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            7,643,691
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            3,376,411
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            &#160;
            -
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            11,020,102
          </td>
          <td align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisclosureOfCurrencyRiskExplanatoryTableTextBlock', window );">Disclosure of currency risk [Table Text Block]</a></td>
<td class="text"><table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times,serif;" width="100%">
        <tr valign="top">
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">
            <b>Accounts</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            <b>US dollars</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom">Cash and cash equivalents</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="12%">
            2,286,117
          </td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">Restricted cash</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            615,636
          </td>
          <td align="left" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" valign="bottom">Receivables</td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" valign="bottom" width="12%">
            2,442,545
          </td>
          <td align="left" bgcolor="#e6efff" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" valign="bottom">Accounts payable and accrued liabilities</td>
          <td align="left" valign="bottom" width="1%">&#160;</td>
          <td align="right" valign="bottom" width="12%">
            (446,604
          </td>
          <td align="left" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Advances from joint venture partners</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            (644,497
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">)</td>
        </tr>
        <tr valign="top">
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom">Net exposure</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            4,253,198
          </td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Canadian dollar equivalent</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="12%">
            5,338,027
          </td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
        </tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of currency risk explanatory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial assets. [Refer: Financial assets]</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6750041984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<tr class="ro">
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            <b>December 31, 2017</b>
          </td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>December 31, 2016</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            <b>December 31, 2015</b>
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          <td align="left" nowrap="nowrap" style="border-top: 2px double rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            3,354,109
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            3,132,480
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="10%">
            5,365,271
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          <td align="left" bgcolor="#e6efff" nowrap="nowrap" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
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            179,502
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            67,206
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="1%">&#160;</td>
          <td align="right" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            269,330
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          <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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        <tr valign="top">
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">Total</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            3,533,611
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            3,199,686
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="1%">$</td>
          <td align="right" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="10%">
            5,634,601
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          <td align="left" bgcolor="#e6efff" style="border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom" width="2%">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<tr>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749819104">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>NATURE OF OPERATIONS AND GOING CONCERN (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Accumulated deficit</a></td>
<td class="nump">$ 104,382,744<span></span>
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<td class="nump">$ 96,989,360<span></span>
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</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749890384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STATEMENT OF COMPLIANCE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text">If an investor holds 20% or more of the voting power of the investee, it is presumed that the investor has significant influence, unless it can be clearly demonstrated that this is not the case. Conversely, if the investor holds less than 20% of the voting power of the investee, it is presumed that the investor does not have significant influence, unless such influence can be clearly demonstrated.<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of significant judgements and assumptions made in determining that the entity does not have significant influence over another entity even though it holds more than 20 per cent of the voting rights of another entity.</p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The useful lives or depreciation rates used for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749926560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax', window );">Permanent loss recorded in the fair value of available for sale investments</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 697,675<span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on remeasuring available-for-sale financial assets, before tax. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_91_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
<TYPE>XML
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6764002864">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>RESTRICTED CASH (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">$ 771,434<span></span>
</td>
<td class="nump">$ 359,172<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfRestrictedCashAxis=emx_HeldAsCollateralForItsCorporateCreditCardsMember', window );">Held as collateral for its corporate credit cards [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">179,502<span></span>
</td>
<td class="nump">189,233<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfRestrictedCashAxis=emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember', window );">Held as a security deposit for the Companys Haiti exploration program [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">65,706<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfRestrictedCashAxis=emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember', window );">Held by wholly-owned subsidiaries for ongoing option agreements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">$ 591,932<span></span>
</td>
<td class="nump">$ 104,233<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfRestrictedCashAxis=emx_HeldAsCollateralForItsCorporateCreditCardsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfRestrictedCashAxis=emx_HeldAsASecurityDepositForTheCompanysHaitiExplorationProgramMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfRestrictedCashAxis=emx_HeldByWhollyownedSubsidiariesForOngoingOptionAgreementsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763067696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PROPERTY AND EQUIPMENT (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="nump">$ 28,622<span></span>
</td>
<td class="nump">$ 114,489<span></span>
</td>
<td class="nump">$ 116,119<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment', window );">Gains on disposals of property, plant and equipment</a></td>
<td class="nump">29,766<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,892<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets', window );">Gain (loss) on acquisition and sale of exploration and evaluation assets</a></td>
<td class="nump">1,305,237<span></span>
</td>
<td class="nump">6,834,999<span></span>
</td>
<td class="nump">5,393,305<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions other than through business combinations, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,013<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,555<span></span>
</td>
<td class="nump">21,041<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Proceeds from sales of property, plant and equipment, classified as investing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,933<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember', window );">Field [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets', window );">Gain (loss) on acquisition and sale of exploration and evaluation assets</a></td>
<td class="nump">6,866<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ExplorationAndEvaluationAssetsMember', window );">Exploration and evaluation assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="nump">$ 10,722<span></span>
</td>
<td class="nump">$ 21,711<span></span>
</td>
<td class="nump">34,633<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,490<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) on acquisition and sale of exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GainLossOnAcquisitionAndSaleOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ExplorationAndEvaluationAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ExplorationAndEvaluationAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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</body>
</html>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6752394912">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES RECEIVABLE (Narrative) (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Aug. 15, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 16, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Feb. 05, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement', window );">Weighted average exercise price of warrants granted in share-based payment arrangement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLoansAndReceivables', window );">Notes receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 429,973<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=emx_IGCLoanMember', window );">IGC Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_LoanAuthorised', window );">Loan authorised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Borrowings, interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromNoncurrentBorrowings', window );">Proceeds from non-current borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 750,000<span></span>
</td>
<td class="nump">$ 500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExpensesPaidAmountAddedToLoan', window );">Expenses paid, amount added to loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 198,953<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfConversionOfDebtToEquity', window );">Description of conversion of debt to equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">At any time prior to the maturity date, the Company had the right to convert all or any part of the principal sums and accrued interest into membership Units of IGC at US$5.00 per Unit.<span></span>
</td>
<td class="text">At any time prior to the maturity date, the Company had the right to convert all or any part of the principal sums and accrued interest into membership Units of IGC at US$5.00 per Unit.<span></span>
</td>
<td class="text">At any time prior to the maturity date, the Company had the right to convert all or any part of the outstanding amount of the loan into membership units at US$6.00 per unit. If IGC completed a financing at less than US$6.00 per unit, the conversion price will be adjusted to the price used in the financing.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement', window );">Weighted average exercise price of warrants granted in share-based payment arrangement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdditionalProceedsFromNonCurrentBorrowings', window );">Additional Proceeds from non-current borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountConverted', window );">Amount converted</a></td>
<td class="nump">$ 1,184,511<span></span>
</td>
<td class="nump">$ 1,017,540<span></span>
</td>
<td class="nump">$ 789,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AccruedInterestConverted', window );">Accrued interest converted</a></td>
<td class="nump">85,558<span></span>
</td>
<td class="nump">$ 51,877<span></span>
</td>
<td class="nump">39,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountConvertedConversionPrice', window );">Amount converted, conversion price</a></td>
<td class="nump">$ 5.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountConvertedUnitsGranted', window );">Amount converted, units granted</a></td>
<td class="nump">236,902<span></span>
</td>
<td class="nump">157,993<span></span>
</td>
<td class="nump">157,993<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountConvertedWarrantsGranted', window );">Amount converted, warrants granted</a></td>
<td class="nump">236,902<span></span>
</td>
<td class="nump">157,993<span></span>
</td>
<td class="nump">157,993<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable', window );">Fair value of the equity conversion option of convertible notes receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,220<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable', window );">Fair value of the note receivable component of convertible notes receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 926,057<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_EffectiveInterestMethodEffectiveRate', window );">Effective interest method, effective rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18.00%<span></span>
</td>
<td class="nump">18.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod', window );">Interest revenue calculated using effective interest method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 51,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Net foreign exchange loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=emx_NotesReceivableToReveloResourcesCorpMember', window );">Notes receivable to Revelo Resources Corp., [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Borrowings, interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromNoncurrentBorrowings', window );">Proceeds from non-current borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_BonusFromNotesReceivableIssued', window );">Bonus from notes receivable issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLoansAndReceivables', window );">Notes receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 429,973<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AccruedInterestConverted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accrued interest converted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AccruedInterestConverted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdditionalProceedsFromNonCurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional Proceeds from non-current borrowings</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdditionalProceedsFromNonCurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountConverted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount converted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountConverted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountConvertedConversionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount converted, conversion price</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountConvertedConversionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountConvertedUnitsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount converted, units granted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountConvertedUnitsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountConvertedWarrantsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount converted, warrants granted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountConvertedWarrantsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_BonusFromNotesReceivableIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Bonus from notes receivable issued</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_BonusFromNotesReceivableIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_EffectiveInterestMethodEffectiveRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest method, effective rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_EffectiveInterestMethodEffectiveRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExpensesPaidAmountAddedToLoan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses paid, amount added to loan</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExpensesPaidAmountAddedToLoan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of the equity conversion option of convertible notes receivable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_FairValueOfTheEquityConversionOptionOfConvertibleNotesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of the note receivable component of convertible notes receivable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_FairValueOfTheNoteReceivableComponentOfConvertibleNotesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_LoanAuthorised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loan authorised</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_LoanAuthorised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of warrants granted in share-based payment arrangement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfConversionOfDebtToEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the non-cash conversion of debt to equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 44<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_44_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfConversionOfDebtToEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest revenue calculated using the effective interest method. Effective interest method is the method that is used in the calculation of the amortised cost of a financial asset or a financial liability and in the allocation and recognition of the interest revenue or interest expense in profit or loss over the relevant period. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net loss arising from foreign exchange differences. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2017-01-01<br> -Paragraph 52<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=21&amp;date=2017-03-01&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLoansAndReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current loans and receivables. [Refer: Loans and receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_c&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLoansAndReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from non-current borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=emx_IGCLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=emx_IGCLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=emx_NotesReceivableToReveloResourcesCorpMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=emx_NotesReceivableToReveloResourcesCorpMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6768490096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS IN ASSOCIATED COMPANIES (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investment in associated companies</a></td>
<td class="nump">$ 7,578,989<span></span>
</td>
<td class="nump">$ 4,992,823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DilutionGainInAssociatedCompanies', window );">Dilution gain in associated companies</a></td>
<td class="nump">$ 503,543<span></span>
</td>
<td class="nump">$ 982,634<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=emx_IGCopperLLCMember', window );">IG Copper, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="nump">41.00%<span></span>
</td>
<td class="nump">39.00%<span></span>
</td>
<td class="nump">42.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for using equity method</a></td>
<td class="nump">$ 11,354,977<span></span>
</td>
<td class="nump">$ 8,967,010<span></span>
</td>
<td class="nump">$ 7,782,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investment in associated companies</a></td>
<td class="nump">7,578,989<span></span>
</td>
<td class="nump">4,992,823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method</a></td>
<td class="nump">994,548<span></span>
</td>
<td class="nump">1,295,568<span></span>
</td>
<td class="nump">$ 1,062,146<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DilutionGainInAssociatedCompanies', window );">Dilution gain in associated companies</a></td>
<td class="nump">$ 503,543<span></span>
</td>
<td class="nump">$ 982,634<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DilutionGainInAssociatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dilution gain in associated companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DilutionGainInAssociatedCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B16&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) from continuing operations of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Continuing operations [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B16<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B16_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=emx_IGCopperLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=emx_IGCopperLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855212640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EXPLORATION AND EVALUATION ASSETS (Narrative) (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="35">1 Months Ended</th>
<th class="th" colspan="7">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 05, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 02, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Nov. 02, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 04, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>May 04, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 04, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 28, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 25, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Feb. 25, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 14, 2017 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Feb. 14, 2017 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Feb. 14, 2017 </div>
<div>SEK (kr) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 29, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Jul. 29, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 31, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 29, 2016 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 31, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Jan. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 20, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Mar. 20, 2015 </div>
<div>AUD ($)</div>
</th>
<th class="th">
<div>Feb. 28, 2015 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 30, 2014 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 20, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2013 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 20, 2013 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Sep. 24, 2009 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 24, 2009 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Nov. 23, 2015</div></th>
<th class="th"><div>Jul. 30, 2015</div></th>
<th class="th"><div>Apr. 27, 2015</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Feb. 28, 2014</div></th>
<th class="th"><div>Oct. 31, 2013</div></th>
<th class="th">
<div>Mar. 21, 2013 </div>
<div>CAD ($)</div>
</th>
<th class="th"><div>Jul. 17, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WriteOffOfExplorationAndEvaluationAssets', window );">Write-off of exploration and evaluation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 56,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,376,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,842,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_LongTermGoldPriceUsedForCalculations', window );">Long term gold price used for calculations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,332<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">Discount rate applied to cash flow projections</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Assets arising from exploration and evaluation of mineral resources</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,841,966<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,145,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterest', window );">Royalty interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,798,980<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,943,743<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,831,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,798,980<span></span>
</td>
<td class="nump">$ 29,327,960<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRoyalties', window );">Royalty income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,857,927<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,227,322<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,609,553<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals, property, and field equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expense arising from exploration for and evaluation of mineral resources</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,334,119<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,415,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,948,802<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_BorealMetalsCorpMember', window );">Boreal Metals Corp. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromReimbursementOfAmountsPaid', window );">Proceeds from reimbursement of amounts paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 239,088<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_SiennaResourcesIncMember', window );">Sienna Resources Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfEquityInterestsInSubsidiaryAcquired', window );">Number of equity interests in subsidiary acquired | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInterestsOfAcquirer', window );">Equity interests of acquirer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember', window );">AES Madencilik A.S [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GainOnDisposalOfSubsidiary', window );">Gain on disposal of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,683,560<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets', window );">Proceeds from disposal of exploration and evaluation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,737,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 350,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage', window );">Disposal of subsidiary, decrease in ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,447,595<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AccretedInterestIncomeReceivable', window );">Accreted interest income receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 167,718<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_LongTermGoldPriceUsedForCalculations', window );">Long term gold price used for calculations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,332<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">Discount rate applied to cash flow projections</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary', window );">Disposal of subsidiary, net assets of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,892<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromSharePurchaseAgreement', window );">Proceeds from share purchase agreement</a></td>
<td class="nump">$ 665,525<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,630,760<span></span>
</td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OuncesOfGoldEquivalentToPayment', window );">Ounces of gold equivalent to payment</a></td>
<td class="nump">500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember', window );">AES Madencilik A.S [Member] | Pursuant to the agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement', window );">Description of gold payments associated with share purchase agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2500<span></span>
</td>
<td class="text">2500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember', window );">AES Madencilik A.S [Member] | Every six months commencing February 1, 2017 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement', window );">Description of gold payments associated with share purchase agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">500 ounces of gold every six months commencing February 2, 2017 up to a cumulative total of 7,000 ounces of gold. Received US$601,825 in February, 2017 and US$634,825 in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of 6,000 ounces of gold (or the cash equivalent) to be paid to EMX.<span></span>
</td>
<td class="text">500 ounces of gold every six months commencing February 2, 2017 up to a cumulative total of 7,000 ounces of gold. Received US$601,825 in February, 2017 and US$634,825 in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of 6,000 ounces of gold (or the cash equivalent) to be paid to EMX.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">500 ounces of gold every six months commencing February 2, 2017 up to a cumulative total of 7,000 ounces of gold. Received US$601,825 in February, 2017 and US$634,825 in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of 6,000 ounces of gold (or the cash equivalent) to be paid to EMX.<span></span>
</td>
<td class="text">500 ounces of gold every six months commencing February 2, 2017 up to a cumulative total of 7,000 ounces of gold. Received US$601,825 in February, 2017 and US$634,825 in July, 2017, and credited against accounts receivable. Receipt of these payments leaves a pre-production total of 6,000 ounces of gold (or the cash equivalent) to be paid to EMX.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember', window );">AES Madencilik A.S [Member] | Within 30 days after the commencement of commercial production [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement', window );">Description of gold payments associated with share purchase agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">7,000 ounces of gold within 30 days after the commencement of commercial production from the Property provided that prior gold payments will be credited against this payment;<span></span>
</td>
<td class="text">7,000 ounces of gold within 30 days after the commencement of commercial production from the Property provided that prior gold payments will be credited against this payment;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember', window );">AES Madencilik A.S [Member] | Upon production of 100,000 ounces of gold [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement', window );">Description of gold payments associated with share purchase agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">250 ounces of gold upon production of 100,000 ounces of gold from the Property;<span></span>
</td>
<td class="text">250 ounces of gold upon production of 100,000 ounces of gold from the Property;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember', window );">AES Madencilik A.S [Member] | Upon production of an aggregate of 500,000 ounces of gold [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement', window );">Description of gold payments associated with share purchase agreement</a></td>
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<td class="text">250 ounces of gold upon production of an aggregate of 500,000 ounces of gold from the Property;<span></span>
</td>
<td class="text">250 ounces of gold upon production of an aggregate of 500,000 ounces of gold from the Property;<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember', window );">AES Madencilik A.S [Member] | Sliding-scale royalty [Member]</a></td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement', window );">Description of gold payments associated with share purchase agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">For gold production: 1.0% on the first 100,000 ounces of gold; 2.0% on the next 400,000 ounces of gold; 3.0% on all gold production in excess of 500,000 ounces produced from the Property, and; For all production other than gold production: 3.0%.<span></span>
</td>
<td class="text">For gold production: 1.0% on the first 100,000 ounces of gold; 2.0% on the next 400,000 ounces of gold; 3.0% on all gold production in excess of 500,000 ounces produced from the Property, and; For all production other than gold production: 3.0%.<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
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</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_EbxMadencilikAsMember', window );">EBX Madencilik A.S. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GainOnDisposalOfSubsidiary', window );">Gain on disposal of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 86,041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromSharePurchaseAgreement', window );">Proceeds from share purchase agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 332,969<span></span>
</td>
<td class="nump">$ 250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AnnualCashPaymentsFromSharePurchaseAgreement', window );">Annual cash payments from share purchase agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 125,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ConditionOfSharePurchaseAgreementProductionReturns', window );">Condition of share purchase agreement, production returns</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3.5% of production returns after certain deductions (&#8220;NSR Payment") for ore mined from the Property that is processed on-site (increased to 5% if the ore is processed off-site).<span></span>
</td>
<td class="text">3.5% of production returns after certain deductions (&#8220;NSR Payment") for ore mined from the Property that is processed on-site (increased to 5% if the ore is processed off-site).<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable', window );">Proportion of advance cash payments credited against NSR payment payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_HT', window );">Haiti [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WriteOffOfExplorationAndEvaluationAssets', window );">Write-off of exploration and evaluation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 56,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnsRoyaltyTerminated', window );">Net smelter returns royalty terminated</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expense arising from exploration for and evaluation of mineral resources</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">148,455<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 359,827<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE', window );">Sweden [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Assets arising from exploration and evaluation of mineral resources</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 437,755<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">437,755<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE', window );">Sweden [Member] | Boreal Metals Corp. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfEquityInterestsInSubsidiaryAcquired', window );">Number of equity interests in subsidiary acquired | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,713,390<span></span>
</td>
<td class="nump">1,713,390<span></span>
</td>
<td class="nump">1,713,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfEquityOwnershipContinuingObligation', window );">Description of equity ownership continuing obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">BMC had thecontinuing obligation to issue additional shares of BMC to EMX to maintain its 19.9% interest in Boreal, at no additional cost to EMX, until BMC raised CAD $5,000,000 in equity (completed). EMX now has the right to participate pro-rata in future financings at its own cost to maintain its 19.9% interest in Boreal.<span></span>
</td>
<td class="text">BMC had thecontinuing obligation to issue additional shares of BMC to EMX to maintain its 19.9% interest in Boreal, at no additional cost to EMX, until BMC raised CAD $5,000,000 in equity (completed). EMX now has the right to participate pro-rata in future financings at its own cost to maintain its 19.9% interest in Boreal.<span></span>
</td>
<td class="text">BMC had thecontinuing obligation to issue additional shares of BMC to EMX to maintain its 19.9% interest in Boreal, at no additional cost to EMX, until BMC raised CAD $5,000,000 in equity (completed). EMX now has the right to participate pro-rata in future financings at its own cost to maintain its 19.9% interest in Boreal.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromReimbursementOfAmountsPaid', window );">Proceeds from reimbursement of amounts paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 81,996<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">kr 550,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">EMX will receive an uncapped 3% NSR royalty on each of the properties. Within five years of the closing date, BMC has the right to buy down up to 1% of the royalty on any given project by paying EMX US$2,500,000 in cash and shares of BMC. Such buy down is project specific.  EMX will also receive a 0.5% NSR royalty on any new mineral exploration projects generated by BMC in Sweden or Norway, excluding projects acquired from a third party containing a mineral resource or reserve or an existing mining operation. These royalties are not capped and not subject to a buy down.<span></span>
</td>
<td class="text">EMX will receive an uncapped 3% NSR royalty on each of the properties. Within five years of the closing date, BMC has the right to buy down up to 1% of the royalty on any given project by paying EMX US$2,500,000 in cash and shares of BMC. Such buy down is project specific.  EMX will also receive a 0.5% NSR royalty on any new mineral exploration projects generated by BMC in Sweden or Norway, excluding projects acquired from a third party containing a mineral resource or reserve or an existing mining operation. These royalties are not capped and not subject to a buy down.<span></span>
</td>
<td class="text">EMX will receive an uncapped 3% NSR royalty on each of the properties. Within five years of the closing date, BMC has the right to buy down up to 1% of the royalty on any given project by paying EMX US$2,500,000 in cash and shares of BMC. Such buy down is project specific.  EMX will also receive a 0.5% NSR royalty on any new mineral exploration projects generated by BMC in Sweden or Norway, excluding projects acquired from a third party containing a mineral resource or reserve or an existing mining operation. These royalties are not capped and not subject to a buy down.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfAnnualAdvanceRoyaltyPayments', window );">Description of annual advance royalty payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">EMX will receive annual advance royalty (&#8220;AAR&#8221;) payments of US$20,000 for each of the properties commencing on the second anniversary of the closing, with each AAR payment increasing by US$5,000 per year until reaching US$60,000 per year, except that BMC may forgo AAR payments on two of the four Properties in years two and three.<span></span>
</td>
<td class="text">EMX will receive annual advance royalty (&#8220;AAR&#8221;) payments of US$20,000 for each of the properties commencing on the second anniversary of the closing, with each AAR payment increasing by US$5,000 per year until reaching US$60,000 per year, except that BMC may forgo AAR payments on two of the four Properties in years two and three.<span></span>
</td>
<td class="text">EMX will receive annual advance royalty (&#8220;AAR&#8221;) payments of US$20,000 for each of the properties commencing on the second anniversary of the closing, with each AAR payment increasing by US$5,000 per year until reaching US$60,000 per year, except that BMC may forgo AAR payments on two of the four Properties in years two and three.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfEquityInterestsOfSubsidiaryHeld', window );">Number of equity interests of subsidiary held | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,205,882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,205,882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17.80%<span></span>
</td>
<td class="nump">17.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE', window );">Sweden [Member] | Boreal Metals Corp. [Member] | Pursuant to the agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfEquityInterestsInSubsidiaryAcquired', window );">Number of equity interests in subsidiary acquired | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,713,390<span></span>
</td>
<td class="nump">1,713,390<span></span>
</td>
<td class="nump">1,713,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_EquityInterestsOfAcquirerValuePerShare', window );">Equity interests of acquirer, value per share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInterestsOfAcquirer', window );">Equity interests of acquirer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85,670<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_PaymentOfFindersFee', window );">Payment of finders fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,862<span></span>
</td>
<td class="nump">$ 12,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GainOnDisposalOfSubsidiary', window );">Gain on disposal of subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,393,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE', window );">Sweden [Member] | Boreal Metals Corp. [Member] | Subsequent to signing [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfEquityInterestsInSubsidiaryAcquired', window );">Number of equity interests in subsidiary acquired | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,492,492<span></span>
</td>
<td class="nump">7,492,492<span></span>
</td>
<td class="nump">7,492,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInterestsOfAcquirer', window );">Equity interests of acquirer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,290,998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AustriaMember', window );">Austria [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expense arising from exploration for and evaluation of mineral resources</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48,767<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">69,667<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expense arising from exploration for and evaluation of mineral resources</a></td>
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<td class="nump">146,159<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_DE', window );">Germany [Member]</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expense arising from exploration for and evaluation of mineral resources</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_RU', window );">Russia [Member]</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expense arising from exploration for and evaluation of mineral resources</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 32,137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_SuperiorWestProjectMember', window );">Superior West project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualOptionPayment', window );">Proceeds from annual option payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 133,383<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="nump">129,820<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromReimbursementOfAmountsPaid', window );">Proceeds from reimbursement of amounts paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 99,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Kennecott has the right to buy down 1% of the NSR royalty from underlying claim holders by payment of US$4,000,000 to EMX.<span></span>
</td>
<td class="text">Kennecott has the right to buy down 1% of the NSR royalty from underlying claim holders by payment of US$4,000,000 to EMX.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfOptionAgreement', window );">Description of terms of option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Company also may earn a 100% interest in additional adjacent claims under option from a third party for cash payments totaling US$1,000,000 on or before January 2017 and subject to a 2% NSR Royalty, 1% of which may be purchased for US$2,000,000 in 0.5% increments.<span></span>
</td>
<td class="text">The Company also may earn a 100% interest in additional adjacent claims under option from a third party for cash payments totaling US$1,000,000 on or before January 2017 and subject to a 2% NSR Royalty, 1% of which may be purchased for US$2,000,000 in 0.5% increments.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 149,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountAppliedAgainstCapitalizedCosts', window );">Amount applied against capitalized costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 52,500<span></span>
</td>
<td class="nump">$ 50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">105,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationIncomeAsOptionPayments', window );">Exploration income as option payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 24,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_YeringtonWestPropertyMember', window );">Yerington West Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualOptionPayment', window );">Proceeds from annual option payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 88,527<span></span>
</td>
<td class="nump">$ 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Under the agreement, once earn-in has been completed, EMX can convert its interest to a 2.5% NSR. Mason has the option to buy down 1.5% of the NSR for US$4,500,000 million.<span></span>
</td>
<td class="text">Under the agreement, once earn-in has been completed, EMX can convert its interest to a 2.5% NSR. Mason has the option to buy down 1.5% of the NSR for US$4,500,000 million.<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
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<td class="nump">80.00%<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementSharesReceived', window );">Option agreement, shares received | shares</a></td>
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<td class="nump">85,000<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
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<td class="nump">$ 1,000,000<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdvancedProductionPayments', window );">Advanced production payments</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_YeringtonWestPropertyMember', window );">Yerington West Property [Member] | Between the fifth and seventh anniversaries [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualAdvanceMinimumRoyalty', window );">Proceeds from annual advance minimum royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_YeringtonWestPropertyMember', window );">Yerington West Property [Member] | Between the eighth and tenth anniversaries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualAdvanceMinimumRoyalty', window );">Proceeds from annual advance minimum royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdvancedProductionPayments', window );">Advanced production payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_KoonenberryArastraMember', window );">Koonenberry [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CapitalizedCostOfPropertiesTransferred', window );">Capitalized cost of properties transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 81,124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment', window );">Losses on disposals of property, plant and field equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 87,987<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals, property, and field equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,866<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_SlattbergLicensesMember', window );">Slattberg licenses [Member] | Sienna Resources Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
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<td class="text">Within six years of the execution of the agreement, Sienna may purchase 0.5% of the NSR royalty for $1,500,000, leaving EMX with a 2.5% NSR royalty.<span></span>
</td>
<td class="text">Within six years of the execution of the agreement, Sienna may purchase 0.5% of the NSR royalty for $1,500,000, leaving EMX with a 2.5% NSR royalty.<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementSharesReceived', window );">Option agreement, shares received | shares</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementValueOfSharesReceived', window );">Option agreement, value of shares received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_SlattbergLicensesMember', window );">Slattberg licenses [Member] | Sienna Resources Inc. [Member] | Upon exercise of the option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementSharesReceived', window );">Option agreement, shares received | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_SlattbergLicensesMember', window );">Slattberg licenses [Member] | Sienna Resources Inc. [Member] | After exercise of the option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfOptionAgreement', window );">Description of terms of option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">After exercise of the option, Sienna will use commercially reasonable efforts to raise $3,000,000 for development of the project and other activities. Once Sienna has raised that amount, Sienna will issue an additional 4,000,000 common shares to EMX. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its interest in Sienna.<span></span>
</td>
<td class="text">After exercise of the option, Sienna will use commercially reasonable efforts to raise $3,000,000 for development of the project and other activities. Once Sienna has raised that amount, Sienna will issue an additional 4,000,000 common shares to EMX. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its interest in Sienna.<span></span>
</td>
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</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_AguilaDeCobrePropertyMember', window );">Aguila de Cobre Property [Member]</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_CathedralWellPropertyMember', window );">Cathedral Well Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">the Company will retain a 2.5% NSR royalty, inclusive of an underlying 0.5% NSR royalty.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment', window );">Value of quit claim deed in lieu of option payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_HardshellSkarnPropertyMember', window );">Hardshell Skarn Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 85,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_HardshellSkarnPropertyMember', window );">Hardshell Skarn Property [Member] | Upon execution of the agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_HardshellSkarnPropertyMember', window );">Hardshell Skarn Property [Member] | Over the next three years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_HardshellSkarnPropertyMember', window );">Hardshell Skarn Property [Member] | First anniversary of the exercise of the option [Member]</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualAdvanceMinimumRoyalty', window );">Proceeds from annual advance minimum royalty</a></td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_HardshellSkarnPropertyMember', window );">Hardshell Skarn Property [Member] | After commencement of commercial production [Member]</a></td>
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</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualAdvanceMinimumRoyalty', window );">Proceeds from annual advance minimum royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_GreenwoodPeakProjectMember', window );">Greenwood Peak project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="nump">$ 630,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_CopperSpringsCopperKingAndRedTopPropertiesMember', window );">Copper Springs, Copper King, and Red Top Properties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementSharesReceived', window );">Option agreement, shares received | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,050,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_CopperSpringsProjectMember', window );">Copper Springs project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromReimbursementOfAmountsPaid', window );">Proceeds from reimbursement of amounts paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 106,436<span></span>
</td>
<td class="nump">$ 82,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The royalty is not capped or purchasable, except over two parcels of Arizona State Land where Anglo American can buy a 0.5% NSR royalty from EMX for US$2,000,000.<span></span>
</td>
<td class="text">The royalty is not capped or purchasable, except over two parcels of Arizona State Land where Anglo American can buy a 0.5% NSR royalty from EMX for US$2,000,000.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 82,000<span></span>
</td>
<td class="nump">$ 447,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_CopperSpringsProjectMember', window );">Copper Springs project [Member] | Upon exercise of the option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 110,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_CopperKingMember', window );">Copper King [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromReimbursementOfAmountsPaid', window );">Proceeds from reimbursement of amounts paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 504,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 65,368<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_RedTopProjectMember', window );">Red Top project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_FrazierCanyonAndBuckhornCreekProjectsMember', window );">Frazier Canyon and Buckhorn Creek projects [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_MineralHillPropertyMember', window );">Mineral Hill Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualOptionPayment', window );">Proceeds from annual option payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 435,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Coeur may purchase up to 1.5% of the NSR royalty if, within sixty days after the completion of a PEA, Coeur purchases the first 0.5% for US$1,000,000. Coeur may purchase an additional 0.5% or 1% of the NSR royalty at any time thereafter for US$2,000,000 per 0.5% interest (maximum total buy down of 1.5%), with EMX and MHL retaining a 2.5% interest.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,550,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualAdvanceMinimumRoyalty', window );">Proceeds from annual advance minimum royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromMilestonePayments', window );">Proceeds from milestone payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_MineralHillPropertyMember', window );">Mineral Hill Property [Member] | Upon execution of the agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualOptionPayment', window );">Proceeds from annual option payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_OphirPropertyMember', window );">Ophir Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets', window );">Proceeds from disposal of exploration and evaluation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_SisortaJointVentureMember', window );">Sisorta Joint Venture [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_PaymentOfFindersFee', window );">Payment of finders fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 63,549<span></span>
</td>
<td class="nump">$ 48,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investments in subsidiaries, joint ventures and associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_PaymentsForExplorationAndEvaluationAssets', window );">Payments for exploration and evaluation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 156,800<span></span>
</td>
<td class="nump">$ 162,092<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets', window );">Gain on acquisition of exploration and evaluation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Assets arising from exploration and evaluation of mineral resources</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 131,440<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_SisortaJointVentureMember', window );">Sisorta Joint Venture [Member] | Chesser Resources Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_BalyaPropertyMember', window );">Balya Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterest', window );">Royalty interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 154,299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAdvanceRoyaltyPayment', window );">Proceeds from advance royalty payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnAdjustedRoyaltyPayment', window );">Proceeds from an adjusted royalty payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRoyalties', window );">Royalty income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40,217<span></span>
</td>
<td class="nump">$ 30,762<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_GolcukTransferAndRoyaltyAgreementMember', window );">Golcuk Transfer and Royalty Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfEquityInterestsInSubsidiaryAcquired', window );">Number of equity interests in subsidiary acquired | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">224,150<span></span>
</td>
<td class="nump">224,150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Pasinex will then pay the Company a 2.9% NSR royalty from production. Pasinex may pay the first minimum royalty payment by delivering 664,483 common shares in the capital of PRL to the Royalty Holder on or before November 30, 2016 (received valued at $79,738). Pasinex has the option of purchasing 0.9% of the royalty for US$1,000,000 prior to the 6th anniversary of the effective date of the agreement.<span></span>
</td>
<td class="text">Pasinex will then pay the Company a 2.9% NSR royalty from production. Pasinex may pay the first minimum royalty payment by delivering 664,483 common shares in the capital of PRL to the Royalty Holder on or before November 30, 2016 (received valued at $79,738). Pasinex has the option of purchasing 0.9% of the royalty for US$1,000,000 prior to the 6th anniversary of the effective date of the agreement.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityInterestsOfAcquirer', window );">Equity interests of acquirer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 60,521<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 61,805<span></span>
</td>
<td class="nump">$ 49,204<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OuncesOfGoldEquivalentToPayment', window );">Ounces of gold equivalent to payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75<span></span>
</td>
<td class="nump">75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAdvanceRoyaltyPayment', window );">Proceeds from advance royalty payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 49,204<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GolcukTransferAndRoyaltyAgreementSharesReceived', window );">Golcuk Transfer and Royalty Agreement, shares received | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">224,150<span></span>
</td>
<td class="nump">224,150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived', window );">Golcuk Transfer and Royalty Agreement, value of shares received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 55,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 115,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="nump">$ 27,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare', window );">Golcuk Transfer and Royalty Agreement, shares received, value per share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_TumadAgreementTrabTwoThreeMember', window );">Tumad Agreement - Trab-23 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty', window );">Description of terms of net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Upon production from the Trab-23 licenses, Tumad will pay the Company a 3% NSR royalty from production. The annual minimum royalties will be credited to 80% of the NSR royalty then payable.<span></span>
</td>
<td class="text">Upon production from the Trab-23 licenses, Tumad will pay the Company a 3% NSR royalty from production. The annual minimum royalties will be credited to 80% of the NSR royalty then payable.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualAdvanceMinimumRoyalty', window );">Proceeds from annual advance minimum royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_FerriteAgreementAlankoyMember', window );">Ferrite Agreement - Alankoy [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromReimbursementOfAmountsPaid', window );">Proceeds from reimbursement of amounts paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,205<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 35,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_BlackSeaCopperGoldAgreementAlankoyMember', window );">Black Sea Copper &amp; Gold Agreement - Alankoy [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 35,408<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromTerminationOfOptionAgreement', window );">Proceeds from termination of option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_AktutanPropertyMember', window );">Aktutan Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAdvanceRoyaltyPayment', window );">Proceeds from advance royalty payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 261,473<span></span>
</td>
<td class="nump">$ 200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_NeavesvilleGoldsilverPropertyMember', window );">Neavesville gold-silver property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromOptionAgreement', window );">Proceeds from option agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 129,562<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OuncesOfGoldEquivalentToPayment', window );">Ounces of gold equivalent to payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_GrandBoisGoldcopperProjectMember', window );">Grand Bois gold-copper project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationLicenseOwnershipPercentage', window );">Exploration license, ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SpecificExplorationLicensesAxis=emx_HaitiExplorationPermitsMember', window );">Haiti exploration permits [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets', window );">Proceeds from sale of exploration and evaluation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,277,542<span></span>
</td>
<td class="nump">$ 4,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AccretedInterestIncomeReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accreted interest income receivable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AccretedInterestIncomeReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdvancedProductionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advanced production payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdvancedProductionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountAppliedAgainstCapitalizedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount applied against capitalized costs</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountAppliedAgainstCapitalizedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AnnualCashPaymentsFromSharePurchaseAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Annual cash payments from share purchase agreement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AnnualCashPaymentsFromSharePurchaseAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CapitalizedCostOfPropertiesTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Capitalized cost of properties transferred</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CapitalizedCostOfPropertiesTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ConditionOfSharePurchaseAgreementProductionReturns">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Condition of share purchase agreement, production returns</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ConditionOfSharePurchaseAgreementProductionReturns</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfAnnualAdvanceRoyaltyPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of annual advance royalty payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfAnnualAdvanceRoyaltyPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfEquityOwnershipContinuingObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of equity ownership continuing obligation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfEquityOwnershipContinuingObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of gold payments associated with share purchase agreement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfGoldPaymentsAssociatedWithSharePurchaseAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfTermsOfNetSmelterReturnRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of terms of net smelter return royalty</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfTermsOfNetSmelterReturnRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfTermsOfOptionAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of terms of option agreement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfTermsOfOptionAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disposal of subsidiary, decrease in ownership percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DisposalOfSubsidiaryDecreaseInOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disposal of subsidiary, net assets of subsidiary</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DisposalOfSubsidiaryNetAssetsOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_EquityInterestsOfAcquirerValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity interests of acquirer, value per share</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_EquityInterestsOfAcquirerValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationIncomeAsOptionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exploration income as option payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationIncomeAsOptionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationLicenseOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exploration license, ownership percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationLicenseOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GainOnAcquisitionOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain on acquisition of exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GainOnAcquisitionOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GainOnDisposalOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain on disposal of subsidiary</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GainOnDisposalOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GolcukTransferAndRoyaltyAgreementSharesReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Golcuk Transfer and Royalty Agreement, shares received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GolcukTransferAndRoyaltyAgreementSharesReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Golcuk Transfer and Royalty Agreement, shares received, value per share</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GolcukTransferAndRoyaltyAgreementSharesReceivedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Golcuk Transfer and Royalty Agreement, value of shares received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GolcukTransferAndRoyaltyAgreementValueOfSharesReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_LongTermGoldPriceUsedForCalculations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Long term gold price used for calculations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_LongTermGoldPriceUsedForCalculations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NetSmelterReturnRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net smelter return royalty</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetSmelterReturnRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NetSmelterReturnsRoyaltyTerminated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net smelter returns royalty terminated</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetSmelterReturnsRoyaltyTerminated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NumberOfEquityInterestsInSubsidiaryAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of equity interests in subsidiary acquired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NumberOfEquityInterestsInSubsidiaryAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NumberOfEquityInterestsOfSubsidiaryHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of equity interests of subsidiary held</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NumberOfEquityInterestsOfSubsidiaryHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_OptionAgreementExplorationExpendituresRequired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Option agreement, exploration expenditures required</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_OptionAgreementExplorationExpendituresRequired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_OptionAgreementInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Option agreement, interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_OptionAgreementInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_OptionAgreementSharesReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Option agreement, shares received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_OptionAgreementSharesReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_OptionAgreementValueOfSharesReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Option agreement, value of shares received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_OptionAgreementValueOfSharesReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_OuncesOfGoldEquivalentToPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ounces of gold equivalent to payment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_OuncesOfGoldEquivalentToPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_PaymentOfFindersFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payment of finders fee</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_PaymentOfFindersFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_PaymentsForExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments for exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_PaymentsForExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromAdvanceRoyaltyPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from advance royalty payment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromAdvanceRoyaltyPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromAnAdjustedRoyaltyPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from an adjusted royalty payment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromAnAdjustedRoyaltyPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromAnnualAdvanceMinimumRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from annual advance minimum royalty</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromAnnualAdvanceMinimumRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromAnnualOptionPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from annual option payment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromAnnualOptionPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromMilestonePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from milestone payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromMilestonePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromOptionAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from option agreement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromOptionAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromReimbursementOfAmountsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from reimbursement of amounts paid</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromReimbursementOfAmountsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromSaleOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from sale of exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromSaleOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromSharePurchaseAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from share purchase agreement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromSharePurchaseAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromTerminationOfOptionAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from termination of option agreement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromTerminationOfOptionAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proportion of advance cash payments credited against NSR payment payable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProportionOfAdvanceCashPaymentsCreditedAgainstNetSmelterReturnPaymentPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ValueOfQuitClaimDeedInLieuOfOptionPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of quit claim deed in lieu of option payment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ValueOfQuitClaimDeedInLieuOfOptionPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WriteOffOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Write-off of exploration and evaluation assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WriteOffOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The discount rate applied to cash flow projections for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph d<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_d_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph e<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_e_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityInterestsOfAcquirer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at the acquisition date, of equity interests of the acquirer transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_f_iv&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityInterestsOfAcquirer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The losses on the disposal of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LossesOnDisposalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of exploration and evaluation assets. [Refer: Exploration and evaluation assets [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalOfExplorationAndEvaluationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRoyalties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from royalties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_iv&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRoyalties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of trade receivables and other receivables. [Refer: Trade receivables; Other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_BorealMetalsCorpMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_BorealMetalsCorpMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_SiennaResourcesIncMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_AesMadencilikAsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_TimingOfTransferOfGoodsOrServicesAxis=emx_PursuantToTheAgreementMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_TimingOfTransferOfGoodsOrServicesAxis=emx_EverySixMonthsCommencingFebruaryOneTwoZeroOneSevenMember</td>
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<td style="white-space:nowrap;">ifrs-full_TimingOfTransferOfGoodsOrServicesAxis=emx_UponProductionOfAnAggregateOfFiveZeroZeroZeroZeroZeroOuncesOfGoldMember</td>
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<td style="white-space:nowrap;">ifrs-full_TimingOfTransferOfGoodsOrServicesAxis=emx_SlidingscaleRoyaltyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_EbxMadencilikAsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_HT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_HT</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TimingOfTransferOfGoodsOrServicesAxis=emx_SubsequentToSigningMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AustriaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AustriaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_EuropeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_EuropeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_DE">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_DE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_RU">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_RU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_SuperiorWestProjectMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_SuperiorWestProjectMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_YeringtonWestPropertyMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_YeringtonWestPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TimingOfTransferOfGoodsOrServicesAxis=emx_BetweenTheFifthAndSeventhAnniversariesMember">
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<td style="white-space:nowrap;">ifrs-full_TimingOfTransferOfGoodsOrServicesAxis=emx_BetweenTheFifthAndSeventhAnniversariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_KoonenberryArastraMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_KoonenberryArastraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_GreenwoodPeakProjectMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_CopperSpringsCopperKingAndRedTopPropertiesMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_CopperSpringsCopperKingAndRedTopPropertiesMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_BalyaPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_BalyaPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_GolcukTransferAndRoyaltyAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_GolcukTransferAndRoyaltyAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_TumadAgreementTrabTwoThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_TumadAgreementTrabTwoThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_FerriteAgreementAlankoyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_FerriteAgreementAlankoyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_BlackSeaCopperGoldAgreementAlankoyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_BlackSeaCopperGoldAgreementAlankoyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_AktutanPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_AktutanPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_NeavesvilleGoldsilverPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_NeavesvilleGoldsilverPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_GrandBoisGoldcopperProjectMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_GrandBoisGoldcopperProjectMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SpecificExplorationLicensesAxis=emx_HaitiExplorationPermitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SpecificExplorationLicensesAxis=emx_HaitiExplorationPermitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6753323520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ROYALTY INTEREST (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares', window );">Shares issued for acquisition of a royalty interest (Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest', window );">Shares issued for acquisition of a royalty interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 145,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromRoyalties', window );">Royalty income</a></td>
<td class="nump">$ 2,857,927<span></span>
</td>
<td class="nump">2,227,322<span></span>
</td>
<td class="nump">$ 1,609,553<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GoldTaxPercentage', window );">Gold tax, percentage</a></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ImpairmentOfRoyaltyInterest', window );">Impairment of royalty interest</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 3,973,699<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestsAxis=emx_MaggieCreekMember', window );">Maggie Creek [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired', window );">Net smelter return royalty on all precious metals acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired', window );">Net smelter return royalty on all other minerals acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestsAxis=emx_AfganMember', window );">Afgan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyaltyAcquired', window );">Net smelter return royalty acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestsAxis=emx_LeevilleMineMember', window );">Leeville Mine [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GrossSmelterReturnRoyalty', window );">Gross smelter return royalty</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestsAxis=emx_EastOreBodyMineMember', window );">East Ore Body Mine [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GrossSmelterReturnRoyalty', window );">Gross smelter return royalty</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestsAxis=emx_NorthPipelineMember', window );">North Pipeline [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfProductionRoyalty', window );">Description of production royalty</a></td>
<td class="text">Should the property become producing, the Company will receive a production royalty of US$0.50 per yard of ore processed or 4% of net profit, whichever is greater.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfProductionRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of production royalty</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfProductionRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GoldTaxPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gold tax, percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GoldTaxPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GrossSmelterReturnRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross smelter return royalty</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GrossSmelterReturnRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ImpairmentOfRoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ImpairmentOfRoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for acquisition of a royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for acquisition of a royalty interest (Shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedForAcquisitionOfARoyaltyInterestShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NetSmelterReturnRoyaltyAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net smelter return royalty acquired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetSmelterReturnRoyaltyAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net smelter return royalty on all other minerals acquired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetSmelterReturnRoyaltyOnAllOtherMineralsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net smelter return royalty on all precious metals acquired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetSmelterReturnRoyaltyOnAllPreciousMetalsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRoyalties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from royalties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_iv&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRoyalties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestsAxis=emx_MaggieCreekMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestsAxis=emx_MaggieCreekMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestsAxis=emx_AfganMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestsAxis=emx_AfganMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestsAxis=emx_LeevilleMineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestsAxis=emx_LeevilleMineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestsAxis=emx_EastOreBodyMineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestsAxis=emx_EastOreBodyMineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestsAxis=emx_NorthPipelineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestsAxis=emx_NorthPipelineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749807264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>GOODWILL (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">$ (2,709,239)<span></span>
</td>
<td class="num">$ (1,518,328)<span></span>
</td>
<td class="num">$ (3,047,605)<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for goodwill. [Refer: Impairment loss recognised in profit or loss; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6764814960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CAPITAL STOCK (Narrative) (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($) </div>
<div>yr </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>CAD ($) </div>
<div>yr </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CAD ($) </div>
<div>yr </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Shares issued for private placement</a></td>
<td class="nump">$ 7,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Shares issued for private placement (Shares) | shares</a></td>
<td class="nump">5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_EquityIssuancePricePerUnit', window );">Equity Issuance, Price per Unit | $ / shares</a></td>
<td class="nump">$ 1.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement', window );">Weighted average exercise price of warrants granted in share-based payment arrangement</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ShareIssueCosts', window );">Share issue costs (units and cash)</a></td>
<td class="nump">$ 438,018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares', window );">Finder's fees in units (Shares) | shares</a></td>
<td class="nump">246,604<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders', window );">Finder's fees in units, percentage of units sold to investors introduced by finders</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits', window );">Finder's fees in units</a></td>
<td class="nump">$ 345,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Share issuance costs in cash</a></td>
<td class="nump">$ 92,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares', window );">Shares issued pursuant to an incentive stock grant program (shares) | shares</a></td>
<td class="nump">245,000<span></span>
</td>
<td class="nump">140,000<span></span>
</td>
<td class="nump">163,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions', window );">Shares issued for exercise of options (shares) | shares</a></td>
<td class="nump">75,000<span></span>
</td>
<td class="nump">165,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Shares issued for exercise of options</a></td>
<td class="nump">$ 85,700<span></span>
</td>
<td class="nump">$ 127,800<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements', window );">Employment and consulting agreements (Shares) | shares</a></td>
<td class="nump">68,873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements', window );">Employment and consulting agreements</a></td>
<td class="nump">$ 79,190<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CommitmentToIssueShares', window );">Commitment to issue shares</a></td>
<td class="nump">$ 23,825<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares', window );">Shares issued for property (shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">250,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreateThroughSharesIssuedForProperty', window );">Shares issued for property</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 145,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfStockOptionPlan', window );">Description of stock option plan</a></td>
<td class="text">The maximum number of shares that may be reserved for issuance under the plan is limited to 10% of the issued common shares of the Company at any time.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions', window );">Weighted average remaining contractual life of outstanding share options | yr</a></td>
<td class="nump">3.10<span></span>
</td>
<td class="nump">2.92<span></span>
</td>
<td class="nump">3.56<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">$ 1,415,639<span></span>
</td>
<td class="nump">$ 970,796<span></span>
</td>
<td class="nump">$ 542,513<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate', window );">Restricted share units, fair value per unit on grant date</a></td>
<td class="nump">1.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageFairValueOfTheStockOptionsGranted', window );">Weighted average fair value of the stock options granted</a></td>
<td class="nump">0.70<span></span>
</td>
<td class="nump">0.74<span></span>
</td>
<td class="nump">0.36<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember', window );">RSU's vested [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">$ 27,575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedAugustTwoEightTwoZeroOneSevenMember', window );">Stock Options Granted August 28, 2017 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DescriptionOfOptionVestingSchedule', window );">Description of option vesting schedule</a></td>
<td class="text">25,000 Options granted for investor relations services vest 25% every 3 months from the date of grant.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember', window );">Capital stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Shares issued for private placement</a></td>
<td class="nump">$ 6,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits', window );">Finder's fees in units</a></td>
<td class="nump">305,789<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Share issuance costs in cash</a></td>
<td class="nump">92,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram', window );">Shares issued pursuant to an incentive stock grant program</a></td>
<td class="nump">279,300<span></span>
</td>
<td class="nump">166,600<span></span>
</td>
<td class="nump">$ 233,950<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Shares issued for exercise of options</a></td>
<td class="nump">85,700<span></span>
</td>
<td class="nump">$ 127,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember', window );">Share-based payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Shares issued for private placement</a></td>
<td class="nump">800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits', window );">Finder's fees in units</a></td>
<td class="nump">$ 39,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CommitmentToIssueShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commitment to issue shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CommitmentToIssueShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfOptionVestingSchedule">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of option vesting schedule</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfOptionVestingSchedule</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DescriptionOfStockOptionPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of stock option plan</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DescriptionOfStockOptionPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_EquityIssuancePricePerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity Issuance, Price per Unit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_EquityIssuancePricePerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Finder's fees in units, percentage of units sold to investors introduced by finders</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_FinderSFeesInUnitsPercentageOfUnitsSoldToInvestorsIntroducedByFinders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employment and consulting agreements (Shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughEmploymentAndConsultingAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for exercise of options (shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseInNumberOfSharesOutstandingThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employment and consulting agreements</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughEmploymentAndConsultingAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Finder's fees in units</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughFinderSFeesInUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Finder's fees in units (Shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughFinderSFeesInUnitsShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreateThroughSharesIssuedForProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for property</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreateThroughSharesIssuedForProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreateThroughSharesIssuedForPropertyShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued for property (shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreateThroughSharesIssuedForPropertyShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Restricted share units, fair value per unit on grant date</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RestrictedShareUnitsFairValuePerUnitOnGrantDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ShareIssueCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share issue costs (units and cash)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ShareIssueCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued pursuant to an incentive stock grant program</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SharesIssuedPursuantToAnIncentiveStockGrantProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued pursuant to an incentive stock grant program (shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_SharesIssuedPursuantToAnIncentiveStockGrantProgramShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of warrants granted in share-based payment arrangement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WeightedAverageFairValueOfTheStockOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average fair value of the stock options granted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WeightedAverageFairValueOfTheStockOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of shares outstanding. [Refer: Number of shares outstanding]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareIssueRelatedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cost related to the issuance of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareIssueRelatedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedAugustTwoEightTwoZeroOneSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StockOptionsByDateGrantedAxis=emx_GrantedAugustTwoEightTwoZeroOneSevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6764204560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Narrative) (Details)<br></strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
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<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="nump">26.00%<span></span>
</td>
<td class="nump">26.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncomeTaxRatesAxis=stpr_A1', window );">British Columbia (BC) Government - general corporate income tax rate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="nump">12.00%<span></span>
</td>
<td class="nump">11.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncomeTaxRatesAxis=emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember', window );">Combined Federal and Provincial (BC) general corporate income tax rate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="nump">27.00%<span></span>
</td>
<td class="nump">26.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncomeTaxRatesAxis=emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember', window );">United States Government - Federal corporate income tax rate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">21.00%<span></span>
</td>
<td class="nump">35.00%<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ApplicableTaxRate</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncomeTaxRatesAxis=stpr_A1</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncomeTaxRatesAxis=emx_CombinedFederalAndProvincialGeneralCorporateIncomeTaxRateMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncomeTaxRatesAxis=emx_UnitedStatesGovernmentFederalCorporateIncomeTaxRateMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6751658096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="nump">$ 1,829,205<span></span>
</td>
<td class="nump">$ 1,695,328<span></span>
</td>
<td class="nump">$ 1,827,702<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits', window );">Key management personnel compensation, termination benefits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 247,660<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">749,865<span></span>
</td>
<td class="nump">577,265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_NonexecutiveChairmanMember', window );">Non-Executive Chairman [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="nump">5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Key management personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">7,177<span></span>
</td>
<td class="nump">5,913<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other related parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">$ 23,568<span></span>
</td>
<td class="nump">$ 17,559<span></span>
</td>
<td class="text">&#160;<span></span>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<td>xbrli:stringItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<tr>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of termination benefits. [Refer: Termination benefits expense; Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
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<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_NonexecutiveChairmanMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember</td>
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<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6753119632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>SEGMENTED INFORMATION (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterest', window );">Royalty interest</a></td>
<td class="nump">$ 21,943,743<span></span>
</td>
<td class="nump">$ 25,831,152<span></span>
</td>
<td class="nump">$ 28,798,980<span></span>
</td>
<td class="nump">$ 29,327,960<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_RS', window );">Serbia [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterest', window );">Royalty interest</a></td>
<td class="nump">$ 200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_RS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_RS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6729738832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>RISK AND CAPITAL MANAGEMENT FINANCIAL INSTRUMENTS (Narrative) (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>CAD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WorkingCapital', window );">Working capital</a></td>
<td class="nump">$ 6,535,893<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,002,318<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_LongTermGoldPriceUsedForCalculations', window );">Long term gold price used for calculations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,332<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">Discount rate applied to cash flow projections</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_MarketRiskMember', window );">Market Risk [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_PotentialChangeInMarketPrices', window );">Potential change in market prices</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Value at risk</a></td>
<td class="nump">$ 334,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Currency Risk [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_PotentialChangeInMarketPrices', window );">Potential change in market prices</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Value at risk</a></td>
<td class="nump">$ 534,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_LongTermGoldPriceUsedForCalculations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Long term gold price used for calculations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_LongTermGoldPriceUsedForCalculations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_PotentialChangeInMarketPrices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Potential change in market prices</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_PotentialChangeInMarketPrices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Working capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The discount rate applied to cash flow projections for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph d<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_d_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph e<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_e_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ValueAtRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ValueAtRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_MarketRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_MarketRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6753478288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Narrative) (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax', window );">Change in fair value of financial instruments</a></td>
<td class="nump">$ 609,733<span></span>
</td>
<td class="nump">$ 88,515<span></span>
</td>
<td class="num">$ (105,714)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares', window );">Shares issued as incentive stock grants (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140,000<span></span>
</td>
<td class="nump">163,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments', window );">Equity investment share-based payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 366,800<span></span>
</td>
<td class="nump">$ 322,900<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Currency translation adjustment</a></td>
<td class="num">(1,424,814)<span></span>
</td>
<td class="num">(862,335)<span></span>
</td>
<td class="nump">4,350,667<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyalInterestCumulativeTranslationAdjustments', window );">CTA loss on royalty interest</a></td>
<td class="num">(1,605,133)<span></span>
</td>
<td class="num">(949,607)<span></span>
</td>
<td class="nump">5,161,567<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">CTA loss on goodwill</a></td>
<td class="num">(223,778)<span></span>
</td>
<td class="num">(230,234)<span></span>
</td>
<td class="nump">1,331,949<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability', window );">CTA gain on deferred tax liability</a></td>
<td class="nump">443,115<span></span>
</td>
<td class="nump">309,230<span></span>
</td>
<td class="nump">1,715,574<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary', window );">CTA gain in the net assets of a subsidiary</a></td>
<td class="nump">39,018<span></span>
</td>
<td class="nump">8,276<span></span>
</td>
<td class="nump">427,275<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany', window );">Conversion of convertible loan to an investment in an associated company</a></td>
<td class="nump">1,017,540<span></span>
</td>
<td class="nump">1,605,466<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits', window );">Finder's fees in units</a></td>
<td class="nump">345,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember', window );">Capital stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants', window );">Shares issued as incentive stock grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">166,600<span></span>
</td>
<td class="nump">233,950<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclassOfReservesOnExerciseOfOptions', window );">Reclass of reserves on exercise of options</a></td>
<td class="nump">45,545<span></span>
</td>
<td class="nump">65,133<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits', window );">Finder's fees in units</a></td>
<td class="nump">305,789<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember', window );">Share-based payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments', window );">Equity investment share-based payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">366,800<span></span>
</td>
<td class="nump">$ 322,900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclassOfReservesOnExerciseOfOptions', window );">Reclass of reserves on exercise of options</a></td>
<td class="num">(45,545)<span></span>
</td>
<td class="num">$ (65,133)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits', window );">Finder's fees in units</a></td>
<td class="nump">$ 39,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Conversion of convertible loan to an investment in an associated company</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ConversionOfConvertibleLoanToAnInvestmentInAnAssociatedCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>CTA gain in the net assets of a subsidiary</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CumulativeTranslationAdjustmentsGainInTheNetAssetsOfASubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>CTA gain on deferred tax liability</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CumulativeTranslationAdjustmentsGainOnDeferredTaxLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity investment share-based payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughEquityInvestmentShareBasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughFinderSFeesInUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Finder's fees in units</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughFinderSFeesInUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued as incentive stock grants</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares issued as incentive stock grants (Shares)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_IncreaseDecreaseThroughSharesIssuedAsIncentiveStockGrantsShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ReclassOfReservesOnExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reclass of reserves on exercise of options</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ReclassOfReservesOnExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyalInterestCumulativeTranslationAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>CTA loss on royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyalInterestCumulativeTranslationAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on remeasuring available-for-sale financial assets, net of tax. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_91_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d_vi&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6754811184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EVENTS AFTER THE REPORTING DATE (Narrative) (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Feb. 05, 2018 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($) </div>
<div>shares</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember', window );">Events subsequent to the reporting date - Sweden (Boreal Energy Metals Corporation) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProjectOwnershipPercentageForSale', window );">Project ownership percentage for sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of equity ownership acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.90%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation', window );">Definitive sales agreement, description of equity ownership continuing obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">BEMC will have the continuing obligation to issue additional shares of BEMC to EMX to maintain its 5.9% interest, at no additional cost to EMX, until BEMC has raised $3,000,000 in equity. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its 5.9% interest in BEMC.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty', window );">Definitive sales agreement, description of net smelter royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">EMX will retain a 3% NSR royalty on the Project, of which 1% may be purchased by BEMC on or before the fifth anniversary of the closing date in 0.5% increments for a total of $2,500,000 in cash and common shares of BEMC stock.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments', window );">Definitive sales agreement, description of advanced annual royalty payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">EMX will receive AAR payments, with an initial $20,000 payment, commencing on the second anniversary of the closing, with each subsequent AAR payment increasing by $5,000 per year until reaching $60,000 per year. Once reaching $60,000, AAR payments will be adjusted each year according to the Consumer Price Index (as published by the U.S. Department of Labor, Bureau of Labor Statistics).<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmendedSalesAgreementAdditionalSharesToBeReceived', window );">Amended sales agreement, additional shares to be received | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,324,181<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfEquityInstrumentsHeld', window );">Number of equity instruments held | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,530,063<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19.90%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember', window );">Events subsequent to the reporting date - Buckhorn Creek Property [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementInterest', window );">Option agreement, interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromAnnualOptionPayment', window );">Proceeds from annual option payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 550,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_OptionAgreementExplorationExpendituresRequired', window );">Option agreement, exploration expenditures required</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetSmelterReturnRoyalty', window );">Net smelter return royalty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=emx_EventsSubsequentToTheReportingDateTurkeyMember', window );">Events subsequent to the reporting date - Turkey [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ProceedsFromSharePurchaseAgreement', window );">Proceeds from share purchase agreement</a></td>
<td class="nump">$ 665,525<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_GoldEquivalentOfProceedsReceived', window );">Gold equivalent of proceeds received (ounces) | oz</a></td>
<td class="nump">500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmendedSalesAgreementAdditionalSharesToBeReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amended sales agreement, additional shares to be received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmendedSalesAgreementAdditionalSharesToBeReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Definitive sales agreement, description of advanced annual royalty payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DefinitiveSalesAgreementDescriptionOfAdvancedAnnualRoyaltyPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Definitive sales agreement, description of equity ownership continuing obligation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DefinitiveSalesAgreementDescriptionOfEquityOwnershipContinuingObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Definitive sales agreement, description of net smelter royalty</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_DefinitiveSalesAgreementDescriptionOfNetSmelterRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_GoldEquivalentOfProceedsReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gold equivalent of proceeds received (ounces)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_GoldEquivalentOfProceedsReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NetSmelterReturnRoyalty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net smelter return royalty</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetSmelterReturnRoyalty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NumberOfEquityInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of equity instruments held</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NumberOfEquityInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_OptionAgreementExplorationExpendituresRequired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Option agreement, exploration expenditures required</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_OptionAgreementExplorationExpendituresRequired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_OptionAgreementInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Option agreement, interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_OptionAgreementInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromAnnualOptionPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from annual option payment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromAnnualOptionPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProceedsFromSharePurchaseAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from share purchase agreement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProceedsFromSharePurchaseAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ProjectOwnershipPercentageForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Project ownership percentage for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ProjectOwnershipPercentageForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=emx_EventsSubsequentToTheReportingDateSwedenBorealEnergyMetalsCorporationMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=emx_EventsSubsequentToTheReportingDateBuckhornCreekPropertyMember</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6784981392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of subsidiaries (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_BullionMonarchMiningIncMember', window );">Bullion Monarch Mining, Inc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EMXUSAServicesCorpMember', window );">EMX (USA) Services Corp. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_BroncoCreekExplorationIncMember', window );">Bronco Creek Exploration Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EurasiaMadencilikLtdSirketiMember', window );">Eurasia Madencilik Ltd. Sirketi [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_AzurMadencilikLtdSirketiMember', window );">Azur Madencilik Ltd. Sirketi [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EurasianMineralsCooperatiefUAMember', window );">Eurasian Minerals Cooperatief U.A. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EurasianMineralsSwedenABMember', window );">Eurasian Minerals Sweden AB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_ViadRoyaltiesABMember', window );">Viad Royalties AB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_WaikatoGoldLimitedMember', window );">Waikato Gold Limited [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of equity interests of subsidiary held</a></td>
<td class="nump">100.00%<span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_BroncoCreekExplorationIncMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_AzurMadencilikLtdSirketiMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EurasianMineralsCooperatiefUAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EurasianMineralsCooperatiefUAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EurasianMineralsSwedenABMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_EurasianMineralsSwedenABMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_ViadRoyaltiesABMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_ViadRoyaltiesABMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_WaikatoGoldLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=emx_WaikatoGoldLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R62.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6754542384">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of detailed information about investments (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition', window );">Financial assets at fair value through profit or loss, Cost</a></td>
<td class="nump">$ 2,396,251<span></span>
</td>
<td class="nump">$ 1,641,751<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss', window );">Financial assets at fair value through profit or loss, Accumulated unrealised loss</a></td>
<td class="num">(1,256,804)<span></span>
</td>
<td class="num">(1,378,995)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue', window );">Financial assets at fair value through profit or loss, Fair value</a></td>
<td class="nump">1,139,447<span></span>
</td>
<td class="nump">262,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_FinancialAssetsAvailableForSaleCost', window );">Financial assets available-for-sale, Cost</a></td>
<td class="nump">2,287,141<span></span>
</td>
<td class="nump">910,473<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss', window );">Financial assets available-for-sale, Accumulated unrealised loss</a></td>
<td class="num">(87,942)<span></span>
</td>
<td class="num">(697,675)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available-for-sale, Fair value</a></td>
<td class="nump">2,199,199<span></span>
</td>
<td class="nump">212,798<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_InvestmentsAtCost', window );">Investments, Cost</a></td>
<td class="nump">4,683,392<span></span>
</td>
<td class="nump">2,552,224<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_InvestmentsAccumulatedUnrealisedLoss', window );">Investments, Accumulated unrealised loss</a></td>
<td class="num">(1,344,746)<span></span>
</td>
<td class="num">(2,076,670)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_InvestmentsFairValue', window );">Investments, Fair value</a></td>
<td class="nump">$ 3,338,646<span></span>
</td>
<td class="nump">$ 475,554<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets at fair value through profit or loss, Accumulated unrealised loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_FinancialAssetsAtFairValueThroughProfitOrLossAccumulatedUnrealisedLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available-for-sale, Accumulated unrealised loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_FinancialAssetsAvailableForSaleAccumulatedUnrealisedLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_FinancialAssetsAvailableForSaleCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available-for-sale, Cost</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_FinancialAssetsAvailableForSaleCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_InvestmentsAccumulatedUnrealisedLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments, Accumulated unrealised loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_InvestmentsAccumulatedUnrealisedLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_InvestmentsAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments, Cost</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_InvestmentsAtCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_InvestmentsFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments, Fair value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_InvestmentsFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets at fair value through profit or loss that were designated as such upon initial recognition or subsequently. [Refer: At fair value [member]; Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets mandatorily measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763995424">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of detailed information about receivables (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">$ 3,376,411<span></span>
</td>
<td class="nump">$ 4,842,733<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Less: Long term portion</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1,412,727)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Receivables (Current)</a></td>
<td class="nump">3,376,411<span></span>
</td>
<td class="nump">3,430,006<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfReceivablesAxis=emx_SaleOfAkarcaMember', window );">Sale of Akarca [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">2,447,595<span></span>
</td>
<td class="nump">4,145,898<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfReceivablesAxis=emx_RoyaltyIncomeReceivableMember', window );">Royalty income receivable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">258,223<span></span>
</td>
<td class="nump">306,513<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfReceivablesAxis=emx_RefundableTaxesMember', window );">Refundable taxes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">151,163<span></span>
</td>
<td class="nump">142,857<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfReceivablesAxis=emx_RecoverableExplorationExpendituresAndAdvancesMember', window );">Recoverable exploration expenditures and advances [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">270,547<span></span>
</td>
<td class="nump">79,090<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfReceivablesAxis=emx_OtherReceivablesMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">$ 248,883<span></span>
</td>
<td class="nump">$ 168,375<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of trade receivables and other receivables. [Refer: Trade receivables; Other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ComponentsOfReceivablesAxis=emx_SaleOfAkarcaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfReceivablesAxis=emx_SaleOfAkarcaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ComponentsOfReceivablesAxis=emx_RoyaltyIncomeReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfReceivablesAxis=emx_RoyaltyIncomeReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ComponentsOfReceivablesAxis=emx_RefundableTaxesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfReceivablesAxis=emx_RefundableTaxesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ComponentsOfReceivablesAxis=emx_RecoverableExplorationExpendituresAndAdvancesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfReceivablesAxis=emx_RecoverableExplorationExpendituresAndAdvancesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ComponentsOfReceivablesAxis=emx_OtherReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfReceivablesAxis=emx_OtherReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6753427664">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of details about currency of receivables (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">$ 3,376,411<span></span>
</td>
<td class="nump">$ 4,842,733<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_CAD', window );">Canadian Dollars [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">280,925<span></span>
</td>
<td class="nump">48,448<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_USD', window );">US Dollars [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">3,040,347<span></span>
</td>
<td class="nump">4,744,825<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_TRY', window );">Turkish Lira [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">24,535<span></span>
</td>
<td class="nump">41,785<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_SEK', window );">Swedish Krona [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">29,575<span></span>
</td>
<td class="nump">6,824<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountsDenominatedInForeignCurrenciesAxis=emx_OtherCurrenciesMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivables', window );">Receivables</a></td>
<td class="nump">$ 1,029<span></span>
</td>
<td class="nump">$ 851<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of trade receivables and other receivables. [Refer: Trade receivables; Other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_CAD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountsDenominatedInForeignCurrenciesAxis=currency_CAD</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_USD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountsDenominatedInForeignCurrenciesAxis=currency_USD</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_TRY">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountsDenominatedInForeignCurrenciesAxis=currency_TRY</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountsDenominatedInForeignCurrenciesAxis=currency_SEK">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountsDenominatedInForeignCurrenciesAxis=currency_SEK</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountsDenominatedInForeignCurrenciesAxis=emx_OtherCurrenciesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountsDenominatedInForeignCurrenciesAxis=emx_OtherCurrenciesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6764253216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about property, plant and equipment (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">$ 471,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,013<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">450,278<span></span>
</td>
<td class="nump">$ 471,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">1,186,591<span></span>
</td>
<td class="nump">1,299,004<span></span>
</td>
<td class="nump">1,428,558<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">24,784<span></span>
</td>
<td class="nump">16,999<span></span>
</td>
<td class="nump">41,545<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="num">(20,756)<span></span>
</td>
<td class="num">(129,412)<span></span>
</td>
<td class="num">(171,099)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">1,190,619<span></span>
</td>
<td class="nump">1,186,591<span></span>
</td>
<td class="nump">1,299,004<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">714,887<span></span>
</td>
<td class="nump">684,544<span></span>
</td>
<td class="nump">677,329<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">39,344<span></span>
</td>
<td class="nump">136,200<span></span>
</td>
<td class="nump">150,782<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="num">(13,890)<span></span>
</td>
<td class="num">(105,857)<span></span>
</td>
<td class="num">(143,567)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">740,341<span></span>
</td>
<td class="nump">714,887<span></span>
</td>
<td class="nump">684,544<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember', window );">Computer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">3,111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember', window );">Computer [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">110,243<span></span>
</td>
<td class="nump">99,694<span></span>
</td>
<td class="nump">91,713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">10,549<span></span>
</td>
<td class="nump">7,981<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">110,243<span></span>
</td>
<td class="nump">110,243<span></span>
</td>
<td class="nump">99,694<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember', window );">Computer [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">107,132<span></span>
</td>
<td class="nump">99,694<span></span>
</td>
<td class="nump">91,713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">3,111<span></span>
</td>
<td class="nump">7,438<span></span>
</td>
<td class="nump">7,981<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">110,243<span></span>
</td>
<td class="nump">107,132<span></span>
</td>
<td class="nump">99,694<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember', window );">Field [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">25,445<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">11,475<span></span>
</td>
<td class="nump">25,445<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember', window );">Field [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">80,933<span></span>
</td>
<td class="nump">154,113<span></span>
</td>
<td class="nump">146,041<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,450<span></span>
</td>
<td class="nump">10,224<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="num">(20,756)<span></span>
</td>
<td class="num">(79,630)<span></span>
</td>
<td class="num">(2,152)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">60,177<span></span>
</td>
<td class="nump">80,933<span></span>
</td>
<td class="nump">154,113<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember', window );">Field [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">55,488<span></span>
</td>
<td class="nump">113,331<span></span>
</td>
<td class="nump">106,850<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">7,104<span></span>
</td>
<td class="nump">12,601<span></span>
</td>
<td class="nump">8,161<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="num">(13,890)<span></span>
</td>
<td class="num">(70,444)<span></span>
</td>
<td class="num">(1,680)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">48,702<span></span>
</td>
<td class="nump">55,488<span></span>
</td>
<td class="nump">113,331<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember', window );">Office [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember', window );">Office [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">2,381<span></span>
</td>
<td class="nump">4,746<span></span>
</td>
<td class="nump">6,635<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,170<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(2,365)<span></span>
</td>
<td class="num">(3,059)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">2,381<span></span>
</td>
<td class="nump">2,381<span></span>
</td>
<td class="nump">4,746<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember', window );">Office [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">2,381<span></span>
</td>
<td class="nump">4,134<span></span>
</td>
<td class="nump">3,958<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,832<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1,753)<span></span>
</td>
<td class="num">(1,656)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">2,381<span></span>
</td>
<td class="nump">2,381<span></span>
</td>
<td class="nump">4,134<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_VehiclesMember', window );">Vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_VehiclesMember', window );">Vehicles [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">47,417<span></span>
</td>
<td class="nump">197,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">16,105<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(47,417)<span></span>
</td>
<td class="num">(165,888)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">47,417<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_VehiclesMember', window );">Vehicles [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">32,989<span></span>
</td>
<td class="nump">157,625<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">671<span></span>
</td>
<td class="nump">15,595<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(33,660)<span></span>
</td>
<td class="num">(140,231)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">32,989<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Building [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">28,622<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">19,940<span></span>
</td>
<td class="nump">28,622<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Building [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">578,508<span></span>
</td>
<td class="nump">578,508<span></span>
</td>
<td class="nump">572,443<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">20,447<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,065<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">598,955<span></span>
</td>
<td class="nump">578,508<span></span>
</td>
<td class="nump">578,508<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Building [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">549,886<span></span>
</td>
<td class="nump">434,396<span></span>
</td>
<td class="nump">317,183<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">29,129<span></span>
</td>
<td class="nump">115,490<span></span>
</td>
<td class="nump">117,213<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">579,015<span></span>
</td>
<td class="nump">549,886<span></span>
</td>
<td class="nump">434,396<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember', window );">Land [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">414,526<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">418,863<span></span>
</td>
<td class="nump">414,526<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember', window );">Land [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">414,526<span></span>
</td>
<td class="nump">414,526<span></span>
</td>
<td class="nump">414,526<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">4,337<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">418,863<span></span>
</td>
<td class="nump">414,526<span></span>
</td>
<td class="nump">414,526<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember', window );">Land [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment', window );">Disposals and derecognition</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from disposals and retirements. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsAndRetirementsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=emx_FieldMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_VehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_VehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6864994464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about associates (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Aggregate assets</a></td>
<td class="nump">$ 45,750,784<span></span>
</td>
<td class="nump">$ 47,843,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Aggregate liabilities</a></td>
<td class="num">(3,379,077)<span></span>
</td>
<td class="num">(5,671,950)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">(7,393,384)<span></span>
</td>
<td class="num">(2,683,482)<span></span>
</td>
<td class="num">$ (6,875,857)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=emx_IGCopperLLCMember', window );">IG Copper, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Aggregate assets</a></td>
<td class="nump">6,127,735<span></span>
</td>
<td class="nump">6,884,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Aggregate liabilities</a></td>
<td class="num">(1,108,694)<span></span>
</td>
<td class="num">(1,471,260)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Loss for the year</a></td>
<td class="num">$ (2,713,490)<span></span>
</td>
<td class="num">$ (3,216,120)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">The Company's ownership %</a></td>
<td class="nump">41.00%<span></span>
</td>
<td class="nump">39.00%<span></span>
</td>
<td class="nump">42.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">The Company's share of loss for the year</a></td>
<td class="num">$ (994,548)<span></span>
</td>
<td class="num">$ (1,295,568)<span></span>
</td>
<td class="num">$ (1,062,146)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) from continuing operations of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Continuing operations [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B16<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B16_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=emx_IGCopperLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=emx_IGCopperLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6855214368">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of detailed information about exploration assets (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Exploration and evaluation assets</a></td>
<td class="nump">$ 1,841,966<span></span>
</td>
<td class="nump">$ 2,145,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Exploration and evaluation assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">81,124<span></span>
</td>
</tr>
<tr class="rh">
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<td class="nump">16,671<span></span>
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</td>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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</td>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
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<td class="nump">78,587<span></span>
</td>
<td class="nump">78,587<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USASuperWestArizonaMember', window );">USA - Super West, Arizona [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Exploration and evaluation assets</a></td>
<td class="nump">867,096<span></span>
</td>
<td class="nump">1,000,479<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAYeringtonNevadaMember', window );">USA - Yerington, Nevada [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Exploration and evaluation assets</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6793373840">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about exploration expenditures (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
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</td>
<td class="nump">$ 6,415,533<span></span>
</td>
<td class="nump">$ 5,948,802<span></span>
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<td class="num">(1,863,045)<span></span>
</td>
<td class="num">(1,415,574)<span></span>
</td>
<td class="num">(1,584,127)<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">4,471,074<span></span>
</td>
<td class="nump">4,999,959<span></span>
</td>
<td class="nump">4,364,675<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_AdministrationCostMember', window );">Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">376,742<span></span>
</td>
<td class="nump">350,580<span></span>
</td>
<td class="nump">303,633<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_AssaysMember', window );">Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">39,670<span></span>
</td>
<td class="nump">16,752<span></span>
</td>
<td class="nump">36,735<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_DrillingTrenchingMember', window );">Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">103,021<span></span>
</td>
<td class="nump">450,712<span></span>
</td>
<td class="nump">18,985<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_LandAndLegalMember', window );">Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">323,437<span></span>
</td>
<td class="nump">495,388<span></span>
</td>
<td class="nump">287,391<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_LogisticsMember', window );">Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">229,336<span></span>
</td>
<td class="nump">178,066<span></span>
</td>
<td class="nump">266,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_PersonnelMember', window );">Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">2,554,447<span></span>
</td>
<td class="nump">2,581,230<span></span>
</td>
<td class="nump">2,979,118<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_PropertyCostMember', window );">Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">1,344,906<span></span>
</td>
<td class="nump">964,543<span></span>
</td>
<td class="nump">1,028,506<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_ProfessionalServicesMember', window );">Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">277,449<span></span>
</td>
<td class="nump">252,690<span></span>
</td>
<td class="nump">460,710<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=ifrs-full_SharebasedPaymentArrangementsMember', window );">Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">739,585<span></span>
</td>
<td class="nump">502,857<span></span>
</td>
<td class="nump">72,397<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_TechnicalStudiesMember', window );">Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">97,224<span></span>
</td>
<td class="nump">384,634<span></span>
</td>
<td class="nump">337,821<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_TravelMember', window );">Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">248,302<span></span>
</td>
<td class="nump">238,081<span></span>
</td>
<td class="nump">157,412<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_RecoveriesMember', window );">Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(721,968)<span></span>
</td>
<td class="num">(721,319)<span></span>
</td>
<td class="num">(1,062,808)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_OperatorFeesMember', window );">Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(29,770)<span></span>
</td>
<td class="num">(57,534)<span></span>
</td>
<td class="num">(57,782)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_OptionPaymentsMember', window );">Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(1,047,560)<span></span>
</td>
<td class="num">(501,232)<span></span>
</td>
<td class="num">(402,595)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_OtherPropertyIncomeMember', window );">Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(63,747)<span></span>
</td>
<td class="num">(135,489)<span></span>
</td>
<td class="num">(60,942)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">68,732<span></span>
</td>
<td class="nump">39,946<span></span>
</td>
<td class="nump">100,885<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(31,783)<span></span>
</td>
<td class="num">(207,719)<span></span>
</td>
<td class="num">(14,918)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">36,949<span></span>
</td>
<td class="num">(167,773)<span></span>
</td>
<td class="nump">85,967<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">40,765<span></span>
</td>
<td class="nump">2,220<span></span>
</td>
<td class="nump">4,767<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">3,511<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">4,914<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">499<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">13,606<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">45,557<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">3,965<span></span>
</td>
<td class="nump">37,230<span></span>
</td>
<td class="nump">8,921<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">496<span></span>
</td>
<td class="nump">28,938<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">5,318<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,508<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">1,567<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,781<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(26,434)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(180,476)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificNewZealandMember', window );">Asia Pacific - New Zealand [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(5,349)<span></span>
</td>
<td class="num">(27,243)<span></span>
</td>
<td class="num">(14,918)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">300,203<span></span>
</td>
<td class="nump">227,126<span></span>
</td>
<td class="nump">208,084<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(31,578)<span></span>
</td>
<td class="num">(48,781)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">268,625<span></span>
</td>
<td class="nump">178,345<span></span>
</td>
<td class="nump">208,084<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">10,669<span></span>
</td>
<td class="nump">9,520<span></span>
</td>
<td class="nump">2,932<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">15,334<span></span>
</td>
<td class="nump">23,778<span></span>
</td>
<td class="nump">10,136<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">9,155<span></span>
</td>
<td class="nump">4,475<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">106,659<span></span>
</td>
<td class="nump">99,751<span></span>
</td>
<td class="nump">101,586<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">25,238<span></span>
</td>
<td class="nump">47,219<span></span>
</td>
<td class="nump">44,322<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">72,497<span></span>
</td>
<td class="nump">1,772<span></span>
</td>
<td class="nump">10,410<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">28,456<span></span>
</td>
<td class="nump">17,673<span></span>
</td>
<td class="num">(1,793)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">34,506<span></span>
</td>
<td class="nump">11,397<span></span>
</td>
<td class="nump">25,407<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">6,844<span></span>
</td>
<td class="nump">6,861<span></span>
</td>
<td class="nump">10,609<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(31,578)<span></span>
</td>
<td class="num">(48,781)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificOtherMember', window );">Asia Pacific - Other [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">368,935<span></span>
</td>
<td class="nump">267,072<span></span>
</td>
<td class="nump">308,969<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(63,361)<span></span>
</td>
<td class="num">(256,500)<span></span>
</td>
<td class="num">(14,918)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">305,574<span></span>
</td>
<td class="nump">10,572<span></span>
</td>
<td class="nump">294,051<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">51,434<span></span>
</td>
<td class="nump">11,740<span></span>
</td>
<td class="nump">7,699<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">18,845<span></span>
</td>
<td class="nump">23,778<span></span>
</td>
<td class="nump">15,050<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">9,155<span></span>
</td>
<td class="nump">4,974<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">120,265<span></span>
</td>
<td class="nump">99,751<span></span>
</td>
<td class="nump">147,143<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">29,203<span></span>
</td>
<td class="nump">84,449<span></span>
</td>
<td class="nump">53,243<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">72,497<span></span>
</td>
<td class="nump">2,268<span></span>
</td>
<td class="nump">39,348<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">33,774<span></span>
</td>
<td class="nump">17,673<span></span>
</td>
<td class="num">(1,793)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">34,506<span></span>
</td>
<td class="nump">11,397<span></span>
</td>
<td class="nump">28,915<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">8,411<span></span>
</td>
<td class="nump">6,861<span></span>
</td>
<td class="nump">14,390<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(58,012)<span></span>
</td>
<td class="num">(48,781)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(180,476)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(5,349)<span></span>
</td>
<td class="num">(27,243)<span></span>
</td>
<td class="num">(14,918)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_HT', window );">Haiti [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">148,455<span></span>
</td>
<td class="nump">359,827<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">1,446,189<span></span>
</td>
<td class="nump">892,287<span></span>
</td>
<td class="nump">811,260<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(989,088)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">457,101<span></span>
</td>
<td class="nump">892,287<span></span>
</td>
<td class="nump">811,260<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">67,159<span></span>
</td>
<td class="nump">37,498<span></span>
</td>
<td class="nump">61,523<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">24,972<span></span>
</td>
<td class="nump">8,596<span></span>
</td>
<td class="nump">5,307<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">13,509<span></span>
</td>
<td class="nump">76,687<span></span>
</td>
<td class="nump">11,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">73,870<span></span>
</td>
<td class="nump">48,632<span></span>
</td>
<td class="nump">39,518<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">26,040<span></span>
</td>
<td class="nump">14,535<span></span>
</td>
<td class="nump">26,978<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">566,367<span></span>
</td>
<td class="nump">195,223<span></span>
</td>
<td class="nump">423,697<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">347,792<span></span>
</td>
<td class="nump">165,640<span></span>
</td>
<td class="nump">60,369<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">77,768<span></span>
</td>
<td class="nump">135,527<span></span>
</td>
<td class="nump">86,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">111,887<span></span>
</td>
<td class="nump">40,285<span></span>
</td>
<td class="nump">7,103<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">17,921<span></span>
</td>
<td class="nump">106,093<span></span>
</td>
<td class="nump">28,083<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">118,904<span></span>
</td>
<td class="nump">63,571<span></span>
</td>
<td class="nump">59,934<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(239,088)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(750,000)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember', window );">Scandinavia [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">726,614<span></span>
</td>
<td class="nump">476,337<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(43,550)<span></span>
</td>
<td class="num">(295,024)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">683,064<span></span>
</td>
<td class="nump">181,313<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,055<span></span>
</td>
<td class="nump">16,296<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">676<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44,283<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,603<span></span>
</td>
<td class="nump">23,208<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,810<span></span>
</td>
<td class="nump">12,014<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">297,586<span></span>
</td>
<td class="nump">205,665<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">154,526<span></span>
</td>
<td class="nump">176,773<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,577<span></span>
</td>
<td class="nump">42,381<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,805<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,383<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,310<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(43,550)<span></span>
</td>
<td class="num">(295,024)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyAkarcaMember', window );">Turkey - Akarca [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">699,640<span></span>
</td>
<td class="nump">987,558<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(226,612)<span></span>
</td>
<td class="num">(276,125)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">473,028<span></span>
</td>
<td class="nump">711,433<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">92,397<span></span>
</td>
<td class="nump">43,532<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">5,509<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,679<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">160,831<span></span>
</td>
<td class="nump">45,957<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,708<span></span>
</td>
<td class="nump">40,408<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">264,527<span></span>
</td>
<td class="nump">561,082<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,426<span></span>
</td>
<td class="nump">116,132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,029<span></span>
</td>
<td class="nump">117,062<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">69,020<span></span>
</td>
<td class="nump">12,430<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,544<span></span>
</td>
<td class="nump">17,183<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,479<span></span>
</td>
<td class="nump">28,263<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(33,305)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(170,146)<span></span>
</td>
<td class="num">(242,820)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember', window );">Turkey - Other [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(56,466)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">451,489<span></span>
</td>
<td class="nump">1,426,254<span></span>
</td>
<td class="nump">1,463,895<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(143,664)<span></span>
</td>
<td class="num">(270,162)<span></span>
</td>
<td class="num">(571,149)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">307,825<span></span>
</td>
<td class="nump">1,156,092<span></span>
</td>
<td class="nump">892,746<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">65,877<span></span>
</td>
<td class="nump">119,452<span></span>
</td>
<td class="nump">59,828<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">940<span></span>
</td>
<td class="nump">676<span></span>
</td>
<td class="nump">5,509<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">58,962<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">23,062<span></span>
</td>
<td class="nump">200,434<span></span>
</td>
<td class="nump">69,165<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">1,379<span></span>
</td>
<td class="nump">19,518<span></span>
</td>
<td class="nump">52,422<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">175,649<span></span>
</td>
<td class="nump">562,113<span></span>
</td>
<td class="nump">766,747<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">27,130<span></span>
</td>
<td class="nump">186,952<span></span>
</td>
<td class="nump">292,905<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">93,506<span></span>
</td>
<td class="nump">83,606<span></span>
</td>
<td class="nump">159,443<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">52,362<span></span>
</td>
<td class="nump">101,825<span></span>
</td>
<td class="nump">12,430<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">44,927<span></span>
</td>
<td class="nump">17,183<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">11,584<span></span>
</td>
<td class="nump">47,789<span></span>
</td>
<td class="nump">28,263<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(21,338)<span></span>
</td>
<td class="num">(43,550)<span></span>
</td>
<td class="num">(328,329)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(122,326)<span></span>
</td>
<td class="num">(170,146)<span></span>
</td>
<td class="num">(242,820)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(56,466)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,983<span></span>
</td>
<td class="nump">109,240<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(53,361)<span></span>
</td>
<td class="num">(122,323)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">622<span></span>
</td>
<td class="num">(13,083)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="nump">1,271<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">142<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,822<span></span>
</td>
<td class="nump">2,646<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,676<span></span>
</td>
<td class="nump">24,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,460<span></span>
</td>
<td class="nump">75,530<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">5,151<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(51,833)<span></span>
</td>
<td class="num">(118,065)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,263)<span></span>
</td>
<td class="num">(4,258)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember', window );">USA - Desert Star [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(265)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">63,530<span></span>
</td>
<td class="nump">537,112<span></span>
</td>
<td class="nump">354,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(144,254)<span></span>
</td>
<td class="num">(645,928)<span></span>
</td>
<td class="num">(515,314)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="num">(80,724)<span></span>
</td>
<td class="num">(108,816)<span></span>
</td>
<td class="num">(161,214)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">109<span></span>
</td>
<td class="nump">676<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">7,727<span></span>
</td>
<td class="nump">845<span></span>
</td>
<td class="nump">1,825<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">370<span></span>
</td>
<td class="nump">314,972<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">8,326<span></span>
</td>
<td class="nump">57,164<span></span>
</td>
<td class="nump">32,211<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">35,565<span></span>
</td>
<td class="nump">118,679<span></span>
</td>
<td class="nump">154,004<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">363<span></span>
</td>
<td class="nump">2,677<span></span>
</td>
<td class="nump">87,771<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">10,370<span></span>
</td>
<td class="nump">42,666<span></span>
</td>
<td class="nump">77,485<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">735<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">128<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(69,812)<span></span>
</td>
<td class="num">(555,217)<span></span>
</td>
<td class="num">(426,190)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(7,451)<span></span>
</td>
<td class="num">(56,271)<span></span>
</td>
<td class="num">(44,067)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(64,901)<span></span>
</td>
<td class="num">(24,720)<span></span>
</td>
<td class="num">(31,955)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember', window );">USA - Kennecott [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(2,090)<span></span>
</td>
<td class="num">(9,720)<span></span>
</td>
<td class="num">(13,102)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">3,751,377<span></span>
</td>
<td class="nump">2,751,111<span></span>
</td>
<td class="nump">2,250,137<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(354,274)<span></span>
</td>
<td class="num">(187,583)<span></span>
</td>
<td class="num">(263,748)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">3,397,103<span></span>
</td>
<td class="nump">2,563,528<span></span>
</td>
<td class="nump">1,986,389<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">185,833<span></span>
</td>
<td class="nump">157,106<span></span>
</td>
<td class="nump">127,873<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">6,031<span></span>
</td>
<td class="nump">6,635<span></span>
</td>
<td class="nump">22,472<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">89,142<span></span>
</td>
<td class="nump">91<span></span>
</td>
<td class="nump">7,111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">198,126<span></span>
</td>
<td class="nump">182,160<span></span>
</td>
<td class="nump">132,178<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">187,423<span></span>
</td>
<td class="nump">70,590<span></span>
</td>
<td class="nump">98,391<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">1,593,930<span></span>
</td>
<td class="nump">1,420,907<span></span>
</td>
<td class="nump">1,261,865<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">901,022<span></span>
</td>
<td class="nump">485,365<span></span>
</td>
<td class="nump">415,594<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">6,498<span></span>
</td>
<td class="nump">13,664<span></span>
</td>
<td class="nump">13,813<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">476,569<span></span>
</td>
<td class="nump">295,008<span></span>
</td>
<td class="nump">75,468<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">2,554<span></span>
</td>
<td class="nump">16,107<span></span>
</td>
<td class="nump">68,265<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">104,249<span></span>
</td>
<td class="nump">103,478<span></span>
</td>
<td class="nump">27,107<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(166,028)<span></span>
</td>
<td class="num">(21,938)<span></span>
</td>
<td class="num">(93,549)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(22,319)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(9,457)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(110,333)<span></span>
</td>
<td class="num">(125,890)<span></span>
</td>
<td class="num">(127,820)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember', window );">USA - Other [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(55,594)<span></span>
</td>
<td class="num">(39,755)<span></span>
</td>
<td class="num">(32,922)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">3,878,815<span></span>
</td>
<td class="nump">3,342,206<span></span>
</td>
<td class="nump">2,713,477<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(666,932)<span></span>
</td>
<td class="num">(886,872)<span></span>
</td>
<td class="num">(901,385)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">3,211,883<span></span>
</td>
<td class="nump">2,455,334<span></span>
</td>
<td class="nump">1,812,092<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">186,199<span></span>
</td>
<td class="nump">157,240<span></span>
</td>
<td class="nump">129,820<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">13,758<span></span>
</td>
<td class="nump">7,480<span></span>
</td>
<td class="nump">24,439<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">89,512<span></span>
</td>
<td class="nump">315,063<span></span>
</td>
<td class="nump">7,111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">198,126<span></span>
</td>
<td class="nump">182,160<span></span>
</td>
<td class="nump">132,178<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">201,917<span></span>
</td>
<td class="nump">129,576<span></span>
</td>
<td class="nump">133,248<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">1,647,547<span></span>
</td>
<td class="nump">1,552,262<span></span>
</td>
<td class="nump">1,440,369<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">940,781<span></span>
</td>
<td class="nump">527,502<span></span>
</td>
<td class="nump">578,895<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">6,498<span></span>
</td>
<td class="nump">13,664<span></span>
</td>
<td class="nump">13,813<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">476,569<span></span>
</td>
<td class="nump">295,008<span></span>
</td>
<td class="nump">75,468<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">12,924<span></span>
</td>
<td class="nump">58,773<span></span>
</td>
<td class="nump">150,901<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">104,984<span></span>
</td>
<td class="nump">103,478<span></span>
</td>
<td class="nump">27,235<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(403,530)<span></span>
</td>
<td class="num">(628,988)<span></span>
</td>
<td class="num">(637,804)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(29,770)<span></span>
</td>
<td class="num">(57,534)<span></span>
</td>
<td class="num">(57,782)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(175,234)<span></span>
</td>
<td class="num">(150,610)<span></span>
</td>
<td class="num">(159,775)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(58,398)<span></span>
</td>
<td class="num">(49,740)<span></span>
</td>
<td class="num">(46,024)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">188,691<span></span>
</td>
<td class="nump">487,714<span></span>
</td>
<td class="nump">651,201<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(2,040)<span></span>
</td>
<td class="num">(96,675)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="nump">188,691<span></span>
</td>
<td class="nump">485,674<span></span>
</td>
<td class="nump">554,526<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">6,073<span></span>
</td>
<td class="nump">24,650<span></span>
</td>
<td class="nump">44,763<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,480<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">9,534<span></span>
</td>
<td class="nump">40,384<span></span>
</td>
<td class="nump">31,480<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">5,282<span></span>
</td>
<td class="nump">48,472<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">44,619<span></span>
</td>
<td class="nump">171,881<span></span>
</td>
<td class="nump">201,162<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">43,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">27,180<span></span>
</td>
<td class="nump">17,625<span></span>
</td>
<td class="nump">161,232<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Share-based payment arrangements [Domain]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">64,993<span></span>
</td>
<td class="nump">48,066<span></span>
</td>
<td class="num">(20,811)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">31,873<span></span>
</td>
<td class="nump">163,444<span></span>
</td>
<td class="nump">112,739<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">4,419<span></span>
</td>
<td class="nump">16,382<span></span>
</td>
<td class="nump">27,590<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(96,675)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember', window );">Other [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">$ (2,040)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">63,908<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="num">(168,404)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NetExplorationExpenditures', window );">Net Expenditures</a></td>
<td class="num">(104,496)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Administration Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">292<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Assays [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Drilling / Trenching [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Land and Legal [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Logistics [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">6,168<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Personnel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">18,052<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Property Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">39,396<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Professional Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Technical Studies [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Travel [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources', window );">Expenditures</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Recoveries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Operator fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Option Payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember', window );">USA - Anglo American [Member] | Other Property Income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeArisingFromExplorationForAndEvaluationOfMineralResources', window );">Recoveries</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net exploration expenditures</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NetExplorationExpenditures</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseArisingFromExplorationForAndEvaluationOfMineralResources</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources, after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_PropertyCostMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=emx_ProfessionalServicesMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfExplorationExpendituresAndRecoveriesAxis=ifrs-full_SharebasedPaymentArrangementsMember</td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_ScandinaviaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_TurkeyOtherMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USADesertStarMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAKennecottMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_USAOtherMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_OtherExplorationAndEvaluationLocationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_UsaAngloAmericanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749987776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about royalty interest (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterest', window );">Royalty interest, beginning balance</a></td>
<td class="nump">$ 25,831,152<span></span>
</td>
<td class="nump">$ 28,798,980<span></span>
</td>
<td class="nump">$ 29,327,960<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestAcquisition', window );">Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">145,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestDepletion', window );">Depletion</a></td>
<td class="num">(2,282,276)<span></span>
</td>
<td class="num">(2,163,221)<span></span>
</td>
<td class="num">(1,716,848)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterestImpairmentCharge', window );">Impairment charge</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,973,699)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyalInterestCumulativeTranslationAdjustments', window );">Cumulative translation adjustments</a></td>
<td class="num">(1,605,133)<span></span>
</td>
<td class="num">(949,607)<span></span>
</td>
<td class="nump">5,161,567<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_RoyaltyInterest', window );">Royalty interest, ending balance</a></td>
<td class="nump">$ 21,943,743<span></span>
</td>
<td class="nump">$ 25,831,152<span></span>
</td>
<td class="nump">$ 28,798,980<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyalInterestCumulativeTranslationAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>CTA loss on royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyalInterestCumulativeTranslationAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalty interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestDepletion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Depletion</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestDepletion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_RoyaltyInterestImpairmentCharge">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment charge</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_RoyaltyInterestImpairmentCharge</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6750581968">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of detailed information about reclamation bonds (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclamationBonds', window );">Reclamation bonds</a></td>
<td class="nump">$ 515,748<span></span>
</td>
<td class="nump">$ 639,427<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_AU', window );">Australia [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclamationBonds', window );">Reclamation bonds</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">67,694<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE', window );">Sweden [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclamationBonds', window );">Reclamation bonds</a></td>
<td class="nump">12,625<span></span>
</td>
<td class="nump">8,043<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclamationBonds', window );">Reclamation bonds</a></td>
<td class="nump">5,669<span></span>
</td>
<td class="nump">26,362<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ReclamationBonds', window );">Reclamation bonds</a></td>
<td class="nump">$ 497,454<span></span>
</td>
<td class="nump">$ 537,328<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ReclamationBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reclamation bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ReclamationBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6626101520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of reconciliation of changes in goodwill (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 4,753,324<span></span>
</td>
<td class="nump">$ 6,501,886<span></span>
</td>
<td class="nump">$ 8,217,542<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill', window );">Impairment charge</a></td>
<td class="num">(2,709,239)<span></span>
</td>
<td class="num">(1,518,328)<span></span>
</td>
<td class="num">(3,047,605)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Cumulative translation adjustment</a></td>
<td class="num">(223,778)<span></span>
</td>
<td class="num">(230,234)<span></span>
</td>
<td class="nump">1,331,949<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill, ending balance</a></td>
<td class="nump">$ 1,820,307<span></span>
</td>
<td class="nump">$ 4,753,324<span></span>
</td>
<td class="nump">$ 6,501,886<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for goodwill. [Refer: Impairment loss recognised in profit or loss; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d_vi&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill</td>
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<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762928256">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of joint operations (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 808,905<span></span>
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<td class="nump">$ 341,361<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdvancesFromJointVenturePartners', window );">Advances from joint venture partners</a></td>
<td class="nump">$ 808,905<span></span>
</td>
<td class="nump">$ 341,361<span></span>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdvancesFromJointVenturePartners">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advances from joint venture partners</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Balance Type:</strong></td>
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<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>100
<FILENAME>R73.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6756691600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of number and weighted average exercise prices of share options (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CAD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement at beginning of period</a></td>
<td class="nump">4,811,500<span></span>
</td>
<td class="nump">5,428,500<span></span>
</td>
<td class="nump">5,493,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period</a></td>
<td class="nump">$ 1.24<span></span>
</td>
<td class="nump">$ 1.67<span></span>
</td>
<td class="nump">$ 2.03<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Number of share options granted in share-based payment arrangement</a></td>
<td class="nump">1,472,500<span></span>
</td>
<td class="nump">1,277,500<span></span>
</td>
<td class="nump">1,341,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options granted in share-based payment arrangement</a></td>
<td class="nump">$ 1.20<span></span>
</td>
<td class="nump">$ 1.30<span></span>
</td>
<td class="nump">$ 0.66<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement', window );">Number of share options exercised in share-based payment arrangement</a></td>
<td class="num">(75,000)<span></span>
</td>
<td class="num">(165,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options exercised in share-based payment arrangement</a></td>
<td class="nump">$ 1.14<span></span>
</td>
<td class="nump">$ 0.77<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement', window );">Number of share options expired in share-based payment arrangement</a></td>
<td class="num">(961,500)<span></span>
</td>
<td class="num">(1,729,500)<span></span>
</td>
<td class="num">(1,406,200)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options expired in share-based payment arrangement</a></td>
<td class="nump">$ 1.97<span></span>
</td>
<td class="nump">$ 2.66<span></span>
</td>
<td class="nump">$ 2.12<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement at end of period</a></td>
<td class="nump">5,247,500<span></span>
</td>
<td class="nump">4,811,500<span></span>
</td>
<td class="nump">5,428,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period</a></td>
<td class="nump">$ 1.10<span></span>
</td>
<td class="nump">$ 1.24<span></span>
</td>
<td class="nump">$ 1.67<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">5,235,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">$ 1.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercisable in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercised in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options expired in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercised in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options expired in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options granted in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>instant</td>
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<DOCUMENT>
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<SEQUENCE>101
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6769068080">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of range of exercise prices of outstanding share options (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement</a></td>
<td class="nump">5,247,500<span></span>
</td>
<td class="nump">4,811,500<span></span>
</td>
<td class="nump">5,428,500<span></span>
</td>
<td class="nump">5,493,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">5,235,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedAprilTwoFiveTwoZeroOneFourMember', window );">Granted April 25, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement</a></td>
<td class="nump">1,290,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">1,290,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExercisePriceOfOutstandingShareOptions', window );">Exercise price of outstanding share options</a></td>
<td class="nump">$ 1.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedJuneTwoSixTwoZeroOneFourMember', window );">Granted June 26, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement</a></td>
<td class="nump">17,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">17,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExercisePriceOfOutstandingShareOptions', window );">Exercise price of outstanding share options</a></td>
<td class="nump">$ 0.88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedDecemberTwoTwoTwoZeroOneFourMember', window );">Granted December 22, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement</a></td>
<td class="nump">60,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">60,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExercisePriceOfOutstandingShareOptions', window );">Exercise price of outstanding share options</a></td>
<td class="nump">$ 0.87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedJuneEightTwoZeroOneFiveMember', window );">Granted June 8, 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement</a></td>
<td class="nump">1,167,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">1,167,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExercisePriceOfOutstandingShareOptions', window );">Exercise price of outstanding share options</a></td>
<td class="nump">$ 0.66<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedOctoberOneEightTwoZeroOneSixMember', window );">Granted October 18, 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement</a></td>
<td class="nump">1,239,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">1,239,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExercisePriceOfOutstandingShareOptions', window );">Exercise price of outstanding share options</a></td>
<td class="nump">$ 1.30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedAugustTwoEightTwoZeroOneSevenMember', window );">Granted August 28, 2017 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement</a></td>
<td class="nump">1,472,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of share options exercisable in share-based payment arrangement</a></td>
<td class="nump">1,460,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExercisePriceOfOutstandingShareOptions', window );">Exercise price of outstanding share options</a></td>
<td class="nump">$ 1.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExercisePriceOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exercise price of outstanding share options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExercisePriceOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercisable in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement</td>
</tr>
<tr>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StockOptionsByDateGrantedAxis=emx_GrantedJuneTwoSixTwoZeroOneFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedDecemberTwoTwoTwoZeroOneFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StockOptionsByDateGrantedAxis=emx_GrantedDecemberTwoTwoTwoZeroOneFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedJuneEightTwoZeroOneFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StockOptionsByDateGrantedAxis=emx_GrantedJuneEightTwoZeroOneFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedOctoberOneEightTwoZeroOneSixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StockOptionsByDateGrantedAxis=emx_GrantedOctoberOneEightTwoZeroOneSixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StockOptionsByDateGrantedAxis=emx_GrantedAugustTwoEightTwoZeroOneSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StockOptionsByDateGrantedAxis=emx_GrantedAugustTwoEightTwoZeroOneSevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762522400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about restricted share units (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Restricted share units, beginning of period</a></td>
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<tr class="re">
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<td class="nump">312,500<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement', window );">Vested</a></td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement', window );">Expired/Cancelled</a></td>
<td class="nump">0<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Restricted share units, end of period</a></td>
<td class="nump">312,500<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) exercised or vested in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) expired in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>103
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6756690544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of share-based payment arrangements (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">$ 1,415,639<span></span>
</td>
<td class="nump">$ 970,796<span></span>
</td>
<td class="nump">$ 542,513<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExpensesAxis=emx_GeneralAndAdministrativeExpensesMember', window );">General and Administrative Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">676,054<span></span>
</td>
<td class="nump">467,939<span></span>
</td>
<td class="nump">100,233<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ComponentsOfExpensesAxis=emx_ExplorationExpendituresMember', window );">Exploration Expenditures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">739,585<span></span>
</td>
<td class="nump">502,857<span></span>
</td>
<td class="num">(34,144)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_SharesIssuedForServicesMember', window );">Shares issued for services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">358,490<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_SharesIssuedForServicesMember', window );">Shares issued for services [Member] | General and Administrative Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">85,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_SharesIssuedForServicesMember', window );">Shares issued for services [Member] | Exploration Expenditures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">272,990<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_CommitmentToIssueBonusSharesMember', window );">Commitment to issue bonus shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">23,825<span></span>
</td>
<td class="nump">27,462<span></span>
</td>
<td class="nump">66,089<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_CommitmentToIssueBonusSharesMember', window );">Commitment to issue bonus shares [Member] | General and Administrative Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">27,462<span></span>
</td>
<td class="nump">100,233<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_CommitmentToIssueBonusSharesMember', window );">Commitment to issue bonus shares [Member] | Exploration Expenditures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">23,825<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(34,144)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember', window );">RSU's vested [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">27,575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember', window );">RSU's vested [Member] | General and Administrative Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">27,575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember', window );">RSU's vested [Member] | Exploration Expenditures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_FairValueOfStockOptionsGrantedMember', window );">Fair value of stock options granted [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">1,005,749<span></span>
</td>
<td class="nump">943,334<span></span>
</td>
<td class="nump">476,424<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_FairValueOfStockOptionsGrantedMember', window );">Fair value of stock options granted [Member] | General and Administrative Expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">562,979<span></span>
</td>
<td class="nump">440,477<span></span>
</td>
<td class="nump">369,883<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_FairValueOfStockOptionsGrantedMember', window );">Fair value of stock options granted [Member] | Exploration Expenditures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share-based Payments</a></td>
<td class="nump">$ 442,770<span></span>
</td>
<td class="nump">$ 502,857<span></span>
</td>
<td class="nump">$ 106,541<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareIssueRelatedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cost related to the issuance of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareIssueRelatedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ComponentsOfExpensesAxis=emx_GeneralAndAdministrativeExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfExpensesAxis=emx_GeneralAndAdministrativeExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ComponentsOfExpensesAxis=emx_ExplorationExpendituresMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ComponentsOfExpensesAxis=emx_ExplorationExpendituresMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_SharesIssuedForServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_SharesIssuedForServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_CommitmentToIssueBonusSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_CommitmentToIssueBonusSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_RestrictedShareUnitsVestedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_FairValueOfStockOptionsGrantedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=emx_FairValueOfStockOptionsGrantedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
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<SEQUENCE>104
<FILENAME>R77.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6749926128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about options, valuation assumptions (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted', window );">Risk free interest rate</a></td>
<td class="nump">1.53%<span></span>
</td>
<td class="nump">0.73%<span></span>
</td>
<td class="nump">1.02%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Expected life (years)</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted', window );">Expected volatility</a></td>
<td class="nump">70.81%<span></span>
</td>
<td class="nump">69.80%<span></span>
</td>
<td class="nump">62.33%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpectedDividendShareOptionsGranted', window );">Dividend yield</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The option life of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfOptionLifeShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The implied yield currently available on zero-coupon government issues of the country in whose currency the exercise price for share options granted is expressed, with a remaining term equal to the expected term of the option being valued (based on the option's remaining contractual life and taking into account the effects of expected early exercise). [Refer: Government [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpectedDividendShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of an expected dividend used to calculate the fair value of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpectedDividendShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>105
<FILENAME>R78.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6752428288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about warrants, activity (Details)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CAD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfOutstandingWarrants', window );">Number of warrants outstanding in share-based payment arrangement at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,175,533<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement', window );">Weighted average exercise price of warrants outstanding in share-based payment arrangement at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.56<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement', window );">Number of warrants expired in share-based payment arrangement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,175,533)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement', window );">Weighted average exercise price of warrants expired in share-based payment arrangement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.56<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement', window );">Number of warrants granted in share-based payment arrangement</a></td>
<td class="nump">2,623,306<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement', window );">Weighted average exercise price of warrants granted in share-based payment arrangement</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfOutstandingWarrants', window );">Number of warrants outstanding in share-based payment arrangement at end of period</a></td>
<td class="nump">2,623,306<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement', window );">Weighted average exercise price of warrants outstanding in share-based payment arrangement at end of period</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NumberOfOutstandingWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of warrants outstanding in share-based payment arrangement at beginning of period</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NumberOfOutstandingWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of warrants expired in share-based payment arrangement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NumberOfWarrantsExpiredInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of warrants granted in share-based payment arrangement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NumberOfWarrantsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of warrants expired in share-based payment arrangement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WeightedAverageExercisePriceOfWarrantsExpiredInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of warrants granted in share-based payment arrangement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WeightedAverageExercisePriceOfWarrantsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of warrants outstanding in share-based payment arrangement at beginning of period</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>106
<FILENAME>R79.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6864994464">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of detailed information about warrants outstanding (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>CAD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfOutstandingWarrants', window );">Number of Warrants</a></td>
<td class="nump">2,623,306<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">9,175,533<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement', window );">Exercise Price</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 4.56<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CategoriesOfWarrantsOutstandingAxis=emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember', window );">Private placement, April 12, 2017 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfOutstandingWarrants', window );">Number of Warrants</a></td>
<td class="nump">2,500,004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement', window );">Exercise Price</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_CategoriesOfWarrantsOutstandingAxis=emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember', window );">Finders warrants, April 12, 2017 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_NumberOfOutstandingWarrants', window );">Number of Warrants</a></td>
<td class="nump">123,302<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement', window );">Exercise Price</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_NumberOfOutstandingWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of warrants outstanding in share-based payment arrangement at beginning of period</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_NumberOfOutstandingWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of warrants outstanding in share-based payment arrangement at beginning of period</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_WeightedAverageExercisePriceOfWarrantsOutstandingInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CategoriesOfWarrantsOutstandingAxis=emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CategoriesOfWarrantsOutstandingAxis=emx_PrivatePlacementAprilOneTwoTwoZeroOneSevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_CategoriesOfWarrantsOutstandingAxis=emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_CategoriesOfWarrantsOutstandingAxis=emx_FindersWarrantsAprilOneTwoTwoZeroOneSevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>107
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6750052416">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of deferred taxes (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liability</a></td>
<td class="num">$ (1,820,307)<span></span>
</td>
<td class="num">$ (4,753,324)<span></span>
</td>
<td class="num">$ (6,501,886)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=emx_RoyaltyInterestMember', window );">Royalty interest [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liability</a></td>
<td class="num">(4,159,013)<span></span>
</td>
<td class="num">(8,090,497)<span></span>
</td>
<td class="num">(9,053,435)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax loss carryforwards [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liability</a></td>
<td class="nump">2,261,886<span></span>
</td>
<td class="nump">3,212,368<span></span>
</td>
<td class="nump">2,433,008<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liability</a></td>
<td class="nump">$ 76,820<span></span>
</td>
<td class="nump">$ 124,805<span></span>
</td>
<td class="nump">$ 118,541<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=emx_RoyaltyInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=emx_RoyaltyInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>108
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6754542384">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax loss carryforwards [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="nump">$ 42,094,000<span></span>
</td>
<td class="nump">$ 39,318,000<span></span>
</td>
<td class="nump">$ 37,728,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_ExplorationAndEvaluationAssetsMember', window );">Exploration and evaluation assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised', window );">Deductible temporary differences for which no deferred tax asset is recognised</a></td>
<td class="nump">1,485,000<span></span>
</td>
<td class="nump">2,137,000<span></span>
</td>
<td class="nump">10,022,960<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised', window );">Deductible temporary differences for which no deferred tax asset is recognised</a></td>
<td class="nump">$ 10,425,000<span></span>
</td>
<td class="nump">$ 11,371,000<span></span>
</td>
<td class="nump">$ 8,385,770<span></span>
</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deductible temporary differences for which no deferred tax asset is recognised in the statement of financial position. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax losses for which no deferred tax asset is recognised in the statement of financial position. [Refer: Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_ExplorationAndEvaluationAssetsMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6756619360">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of income tax expense (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncome', window );">Current tax expense</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
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<td class="nump">$ 0<span></span>
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<tr class="re">
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<td class="num">(2,489,902)<span></span>
</td>
<td class="num">(1,439,332)<span></span>
</td>
<td class="num">(3,431,230)<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income Tax Expense</a></td>
<td class="num">$ (2,489,902)<span></span>
</td>
<td class="num">$ (1,439,332)<span></span>
</td>
<td class="num">$ (3,431,230)<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 80<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_80_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncome</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
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<td>duration</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762086064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of detailed information about effective income tax expense recovery (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate', window );">Expected income tax (recovery)</a></td>
<td class="num">$ (2,569,654)<span></span>
</td>
<td class="num">$ (886,149)<span></span>
</td>
<td class="num">$ (2,679,842)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfForeignTaxRates', window );">Effect of lower tax rates in foreign jurisdictions</a></td>
<td class="num">(1,534,592)<span></span>
</td>
<td class="num">(474,971)<span></span>
</td>
<td class="num">(2,393,803)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011', window );">Permanent differences</a></td>
<td class="nump">1,007,427<span></span>
</td>
<td class="nump">1,010,562<span></span>
</td>
<td class="nump">2,594,459<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss', window );">Change in unrecognized deductible temporary differences and other</a></td>
<td class="nump">260,595<span></span>
</td>
<td class="num">(1,428,442)<span></span>
</td>
<td class="num">(60,006)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_TaxEffectOfForeignExchange', window );">Foreign exchange</a></td>
<td class="nump">346,322<span></span>
</td>
<td class="nump">339,668<span></span>
</td>
<td class="num">(892,038)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income Tax Expense</a></td>
<td class="num">$ (2,489,902)<span></span>
</td>
<td class="num">$ (1,439,332)<span></span>
</td>
<td class="num">$ (3,431,230)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_TaxEffectOfForeignExchange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Foreign exchange</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_TaxEffectOfForeignExchange</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to expenses not deductible in determining taxable profit (tax loss). [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfForeignTaxRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to foreign tax rates. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfForeignTaxRates</td>
</tr>
<tr>
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<tr>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to revenues that are exempt from taxation. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The product of the accounting profit multiplied by the applicable tax rate(s). [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseIncomeAtApplicableTaxRate</td>
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<tr>
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<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<SEQUENCE>111
<FILENAME>R84.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6756741168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Disclosure of information about key management personnel (Details) - CAD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Salary or Fees</a></td>
<td class="nump">$ 1,240,726<span></span>
</td>
<td class="nump">$ 1,311,861<span></span>
</td>
<td class="nump">$ 1,639,167<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Share-based Payments</a></td>
<td class="nump">588,479<span></span>
</td>
<td class="nump">383,467<span></span>
</td>
<td class="nump">188,535<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="nump">1,829,205<span></span>
</td>
<td class="nump">1,695,328<span></span>
</td>
<td class="nump">1,827,702<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_ManagementMember', window );">Management [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Salary or Fees</a></td>
<td class="nump">733,244<span></span>
</td>
<td class="nump">803,033<span></span>
</td>
<td class="nump">1,067,210<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Share-based Payments</a></td>
<td class="nump">361,865<span></span>
</td>
<td class="nump">215,933<span></span>
</td>
<td class="nump">108,637<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="nump">1,095,109<span></span>
</td>
<td class="nump">1,018,966<span></span>
</td>
<td class="nump">1,175,847<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_OutsideDirectorsMember', window );">Outside directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Salary or Fees</a></td>
<td class="nump">149,882<span></span>
</td>
<td class="nump">151,228<span></span>
</td>
<td class="nump">158,257<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Share-based Payments</a></td>
<td class="nump">226,614<span></span>
</td>
<td class="nump">167,534<span></span>
</td>
<td class="nump">79,898<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="nump">376,496<span></span>
</td>
<td class="nump">318,762<span></span>
</td>
<td class="nump">238,155<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_SeabordServicesCorpMember', window );">Seabord Services Corp. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Salary or Fees</a></td>
<td class="nump">357,600<span></span>
</td>
<td class="nump">357,600<span></span>
</td>
<td class="nump">413,700<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Share-based Payments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="nump">$ 357,600<span></span>
</td>
<td class="nump">$ 357,600<span></span>
</td>
<td class="nump">$ 413,700<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of short-term employee benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_ManagementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_ManagementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_OutsideDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_OutsideDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=emx_SeabordServicesCorpMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=emx_SeabordServicesCorpMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>112
<FILENAME>R85.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6768488992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of exploration and evaluation assets by location (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Exploration and evaluation assets</a></td>
<td class="nump">$ 1,841,966<span></span>
</td>
<td class="nump">$ 2,145,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=emx_AsiaPacificMember', window );">Asia Pacific [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsArisingFromExplorationForAndEvaluationOfMineralResources', window );">Exploration and evaluation assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">81,124<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE', window );">Sweden [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="nump">437,755<span></span>
</td>
<td class="nump">437,755<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="nump">232,547<span></span>
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<td class="nump">232,547<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 1,171,664<span></span>
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<td class="nump">$ 1,393,574<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets arising from the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 6<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=6&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of property and equipment by location (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment</a></td>
<td class="nump">0<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_HT', window );">Haiti [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE', window );">Sweden [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">26,159<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR', window );">Turkey [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US', window );">USA [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_HT</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_SE</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_TR</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_ExplorationAndEvaluationAssetsByGeographyAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>114
<FILENAME>R87.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6852082912">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of financial assets (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 3,533,611<span></span>
</td>
<td class="nump">$ 3,199,686<span></span>
</td>
<td class="nump">$ 5,634,601<span></span>
</td>
<td class="nump">$ 6,450,308<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">771,434<span></span>
</td>
<td class="nump">359,172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Fair value through profit or loss investments</a></td>
<td class="nump">1,139,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StrategicInvestments', window );">Strategic investments</a></td>
<td class="nump">2,199,199<span></span>
</td>
<td class="nump">212,798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Accounts receivable</a></td>
<td class="nump">3,376,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Non-current accounts receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 1,412,727<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">11,020,102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">3,533,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">771,434<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Fair value through profit or loss investments</a></td>
<td class="nump">1,139,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StrategicInvestments', window );">Strategic investments</a></td>
<td class="nump">2,199,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Accounts receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">7,643,691<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Fair value through profit or loss investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StrategicInvestments', window );">Strategic investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Accounts receivable</a></td>
<td class="nump">3,376,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">3,376,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Fair value through profit or loss investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StrategicInvestments', window );">Strategic investments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Accounts receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StrategicInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Strategic investments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StrategicInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35N<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets that are measured at fair value and for which gains (losses) are recognised in profit or loss. A financial asset shall be measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive income. A gain (loss) on a financial asset measured at fair value shall be recognised in profit or loss unless it is part of a hedging relationship, it is an investment in an equity instrument for which the entity has elected to present gains and losses in other comprehensive income or it is a financial asset measured at fair value through other comprehensive income. [Refer: At fair value [member]; Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount receivable by the entity that it does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReceivables</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6757176736">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of currency risk (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CAD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>CAD ($)</div>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 3,533,611<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,199,686<span></span>
</td>
<td class="nump">$ 5,634,601<span></span>
</td>
<td class="nump">$ 6,450,308<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">771,434<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">359,172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Receivables</a></td>
<td class="nump">3,376,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,430,006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Accounts payable and accrued liabilities</a></td>
<td class="nump">749,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">577,265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdvancesFromJointVenturePartners', window );">Advances from joint venture partners</a></td>
<td class="nump">808,905<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 341,361<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Currency Risk [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,286,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">615,636<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,442,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Accounts payable and accrued liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(446,604)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AdvancesFromJointVenturePartners', window );">Advances from joint venture partners</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(644,497)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_AmountsHeldInForeignCurrencies', window );">Net exposure</a></td>
<td class="nump">$ 5,338,027<span></span>
</td>
<td class="nump">$ 4,253,198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AdvancesFromJointVenturePartners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Advances from joint venture partners</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AdvancesFromJointVenturePartners</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_AmountsHeldInForeignCurrencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net exposure</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_AmountsHeldInForeignCurrencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">emx_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>emx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6609659072">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Disclosure of cash and cash equivalents (Details) - CAD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_emx_StatementLineItems', window );"><strong>Statement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Cash', window );">Cash</a></td>
<td class="nump">$ 3,354,109<span></span>
</td>
<td class="nump">$ 3,132,480<span></span>
</td>
<td class="nump">$ 5,365,271<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents', window );">Short-term deposits</a></td>
<td class="nump">179,502<span></span>
</td>
<td class="nump">67,206<span></span>
</td>
<td class="nump">269,330<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Total</a></td>
<td class="nump">$ 3,533,611<span></span>
</td>
<td class="nump">$ 3,199,686<span></span>
</td>
<td class="nump">$ 5,634,601<span></span>
</td>
<td class="nump">$ 6,450,308<span></span>
</td>
</tr>
</table>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_emx_StatementLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term deposits. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
